ABLE ENERGY INC Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for ABLE ENERGY INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for ABLE ENERGY INC 12-Feb-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not...
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ABLE ENERGY INC Financials

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ABLE ENERGY INC Files SEC form 8-K, Other Events

Show all filings for ABLE ENERGY INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for ABLE ENERGY INC 29-Dec-2008Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purpose...
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ABLE ENERGY INC Files SEC form 8-K/A, Financial Statements and Exhibits

Show all filings for ABLE ENERGY INC | Request a Trial to NEW EDGAR Online Pro Form 8-K/A for ABLE ENERGY INC 23-Dec-2008Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not inte...
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ABLE ENERGY INC Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 18, 2008, the Board of Directors of Able Energy, Inc. (the "Company") appointed John F. O'Brien as interim Chief Financial Officer of the Company. There are no family relationships between Mr. O'Brien and any director or executive officer of the Company. Mr. O'Brien will replace Daniel L. Johnston, who resigned as Chief Financial Officer of the Company effective as of December 15, 2008 for personal reasons. There are no disputes between the Company and Mr. Johnston. Mr. Johnston will continue to assist the Company on a consulting basis as his time permits and as required by the Company. Mr. O'Brien, 57, has served as a Managing Director of investment banking at several retail brokerage firms, including: Aegis Capital Corp., a position which he has held since 2006; Ehrenkrantz King Nussbaum, Inc., from 2005 to 2006; Lane Capital Markets, LLC, from 2003 to 2005; and, Park Capital Securities, LLC, from 2001 to 2003, none of which is an affiliate of the Company. As Managing Director of investment banking, Mr. O'Brien has assisted companies in sourcing start-up, early stage and growth capital through private placements to venture capital firms, institutional private equity investors and accredited individual investors. He has managed numerous transactions related to mergers and acquisitions for clients ranging in size from small capitalization enterprises to Fortune 1000 companies, handled public market initial public offerings and provided strategic and financial advisory services to both public and private corporations in a variety of industries. As an experienced financial professional, Mr. O'Brien has been actively involved in the financial accounting management of several companies along with extensive knowledge of regulatory requirements of public companies. Previously, he worked as the c...
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ABLE ENERGY INC Files SEC form 10-Q, Quarterly Report

Note 2 - Going Concern, Liquidity and Capital Resources and Management's Plans The Company has incurred losses from continuing operations during the three months ended September 30, 2008 of approximately, $1.5 million resulting in an accumulated deficit balance of approximately $32.1 million as of September 30, 2008. Net cash provided by operations during the three months ended September 30, 2008, was approximately $1.3 million. The Company had a working capital deficiency of $14.1 million. These factors raise substantial doubt about the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments relating to the recoverability of the recorded assets or the classification of the liabilities that may be necessary should the Company be unable to continue as a going concern. On May 30, 2007, the Company completed a business combination with All American Plazas, Inc. now known as All American Properties, Inc. ("Properties") (See Note 16). The Company is pursuing sales initiatives, cost savings and credit benefits as contemplated in the business combination including consolidation of business operations where management of the Company deems appropriate for the combined entity. In order to conserve its capital resources and to provide incentives for the Company's employees and other service vendors, the Company expects to continue to issue, from time to time, common stock and stock options to compensate employees and non-employees for services rendered. The Company is focusing on expanding its distribution programs and new customer relationships to increase demand for its products. In addition, the Company is pursuing other lines of business, which include expansion of its current commercial business into other products and services such as solar energy and other energy related home services. The Company is also evaluating, on a combined basis, all of its product lines for cost reductions, consolidation of facilities and effi...
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ABLE ENERGY INC Files SEC form 10-Q, Quarterly Report

Note 2 - Going Concern, Liquidity and Capital Resources and Management's Plans The Company has incurred losses from continuing operations during the nine months ended March 31, 2008 of approximately, $8.9 million resulting in an accumulated deficit balance of approximately $26.7 million as of March 31, 2008. Net cash used in operations during the nine months ended March 31, 2008, was approximately $4.9 million. The Company had a working capital deficiency of $9.7 million. These factors raise substantial doubt about the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments relating to the recoverability of the recorded assets or the classification of the liabilities that may be necessary should the Company be unable to continue as a going concern. On May 30, 2007, the Company completed a business combination with All American Plazas, Inc. now known as All American Properties, Inc. ("Properties") (See Note 16). The Company is pursuing sales initiatives, cost savings and credit benefits as contemplated in the business combination including consolidation of business operations where management of the Company deems appropriate for the combined entity. In order to conserve its capital resources and to provide incentives for the Company's employees and other service vendors, the Company expects to continue to issue, from time to time, common stock and stock options to compensate employees and non-employees for services rendered. The Company is focusing on expanding its distribution programs and new customer relationships to increase demand for its products. In addition, the Company is pursuing other lines of business, which include expansion of its current commercial business into other products and services such as solar energy and other energy related home services. The Company is also evaluating, on a combined basis, all of its product lines for cost reductions, consolidation of facilities and efficiency improvements...
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ABLE ENERGY INC Files SEC form 10-K, Annual Report

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation The following discussion should be read in conjunction with our Consolidated Financial Statements, and Notes thereto, contained elsewhere in this Annual Report. Overview Able was incorporated in Delaware in 1997. Able Oil, a wholly-owned subsidiary of Able, was established in 1989 and sells both residential and commercial heating oil, diesel fuel and complete HVAC service to it heating oil customers. Able NY, a wholly-owned subsidiary of Able, sells residential and commercial heating oil, propane, diesel fuel and kerosene to customers in and around the Warrensburg, NY area. Price Energy, Inc., a majority owned subsidiary of Able, was established in 1999 and has developed a platform that has extended the Company's ability to sell and deliver liquid fuels and related energy products over the Internet. The Company's newest subsidiary, All American Plazas, Inc., was formed to operate eleven travel plazas acquired in connection with the Company's business combination with All American Properties, Inc. (formerly known as All American Plazas, Inc.) which was consummated on May 30, 2007. These plazas serve the professional and leisure traveler in the mid-Atlantic and northeast regions of the United States of America. Management's Discussion and Analysis of Financial Condition and Results of Operation contains forward-looking statements, which are based upon current expectations and involve a number of risks and uncertainties. Investors are hereby cautioned that these statements may be affected by the important factors, among others, set forth below, and consequently, actual operations and results may differ materially from those expressed in these forward-looking statements. The important factors include: · Commodity Supply · Commodity Pricing · Customers Converting to Natural Gas · Alternative Energy Sources · Winter Temperature Variations ...
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