CabelTel International Corp. (GBR, Financial) filed Quarterly Report for the period ended 2009-03-31.
GREENBRIAR CORP's historical businesses during the past five years have included ownership and operation of skilled nursing and retirement centers real estate investments and manufacture and leasing of electric convenience vehicles and wheelchairs. The nursing and retirement centers and convenience vehicle businesses have been sold and the real estate investments are being liquidated. CabelTel International Corp. has a market cap of $8.7 million; its shares were traded at around $4.51 with a P/E ratio of 0.6 and P/S ratio of 2.5.
Net cash provided by operating activities was $308,000 for the three months ended March 31, 2009. During the three-month period, the Company had a net income of $23,000. Net cash used in investing activities was $312,000 for the three months ended March 31, 2009, consisting of the purchase of equipment and other capitalized drilling costs at the Company’s oil and gas production facility.
The Company reported net income of $23,000 for the three months ended March 31, 2009, as compared to net income of $56,000 for the three month period ended March 31, 2008. For the three months ended March 31, 2009, the Company recorded oil and gas revenues of $394,000. No such revenues were earned in the comparable period in 2008, which was prior to acquisition of the oil and gas operations. During the same period in 2009, the Company recorded revenues of $674,000 from its retirement property compared to $704,000 for the three months ended March 31, 2008.
For the three months ended March 31, 2009, the Company recorded oil and gas operating expenses of $386,000. No such operating expenses were incurred in the comparable period in 2008, which was prior to acquisition of the oil and gas operations. During the same period in 2009, operating expenses and lease expense at the retirement property were $536,000 as compared to $551,000 for the three months ended March 31, 2008.
13 For the three months ended March 31, 2009, corporate general & administrative expenses were $262,000 as compared to $261,000 for the three months ended March 31, 2008.
For the three months ended March 31, 2009, interest income was $181,000 compared to $52,000 for the three months ended March 31, 2008. The increase is due to the Company’s increased investment in interest bearing notes receivable from affiliates. The Company recorded interest expense for the three months ended March 31, 2009, of $30,000 as compared to $162,000 for the same period in 2008. The decrease is primarily due to the decrease in interest bearing notes payable from 2008 to 2009.
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GREENBRIAR CORP's historical businesses during the past five years have included ownership and operation of skilled nursing and retirement centers real estate investments and manufacture and leasing of electric convenience vehicles and wheelchairs. The nursing and retirement centers and convenience vehicle businesses have been sold and the real estate investments are being liquidated. CabelTel International Corp. has a market cap of $8.7 million; its shares were traded at around $4.51 with a P/E ratio of 0.6 and P/S ratio of 2.5.
Highlight of Business Operations:
At March 31, 2009, the Company had current assets of $11.8 million and current liabilities of $2.4 million.Net cash provided by operating activities was $308,000 for the three months ended March 31, 2009. During the three-month period, the Company had a net income of $23,000. Net cash used in investing activities was $312,000 for the three months ended March 31, 2009, consisting of the purchase of equipment and other capitalized drilling costs at the Company’s oil and gas production facility.
The Company reported net income of $23,000 for the three months ended March 31, 2009, as compared to net income of $56,000 for the three month period ended March 31, 2008. For the three months ended March 31, 2009, the Company recorded oil and gas revenues of $394,000. No such revenues were earned in the comparable period in 2008, which was prior to acquisition of the oil and gas operations. During the same period in 2009, the Company recorded revenues of $674,000 from its retirement property compared to $704,000 for the three months ended March 31, 2008.
For the three months ended March 31, 2009, the Company recorded oil and gas operating expenses of $386,000. No such operating expenses were incurred in the comparable period in 2008, which was prior to acquisition of the oil and gas operations. During the same period in 2009, operating expenses and lease expense at the retirement property were $536,000 as compared to $551,000 for the three months ended March 31, 2008.
13 For the three months ended March 31, 2009, corporate general & administrative expenses were $262,000 as compared to $261,000 for the three months ended March 31, 2008.
For the three months ended March 31, 2009, interest income was $181,000 compared to $52,000 for the three months ended March 31, 2008. The increase is due to the Company’s increased investment in interest bearing notes receivable from affiliates. The Company recorded interest expense for the three months ended March 31, 2009, of $30,000 as compared to $162,000 for the same period in 2008. The decrease is primarily due to the decrease in interest bearing notes payable from 2008 to 2009.
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