Alloy Steel International (OTC BB: AYSI.OB) filed its 10-Q today. Earnings for the quarter were ~8.7 cents. Prior to this, the company’s highest quarterly earnings were the 6.8 cents it reported in Q2 of 2008.
That today’s earnings would beat the previous record wasn’t a surprise after the company announced record revenue and pre-tax profits last week.
The management discussion & analysis section of the 10-Q included this:
The Company is actively reviewing options to raise additional capital through debt and/or equity financing. Although it currently has no commitment to do so, any additional capital raised would be applied to the research of nanotechnology and to an overseas manufacturing expansion. The Company is also considering a division of share capital of 5 shares for every 1 share currently held to improve liquidity in the market and promoting the trading of shares.
This is the first mention of nanotechnology I can recall from the company. I’m not sure what that’s about. The considered 5-for-1 forward split seems odd for a company trading at $3, but I think lower share prices are more common in Australia. Maybe the company will issue a press release elaborating on some of this.
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