Welcome to our dedicated page for Capstone Comp news (Ticker: CAPC), a resource for investors and traders seeking the latest updates and insights on Capstone Comp stock.
Capstone Companies, Inc. (OTCQB: CAPC) is a public holding company and SEC-reporting issuer that regularly discloses its evolving strategy, funding arrangements and governance changes through press releases and SEC filings. This news page aggregates those updates so readers can follow how the company’s transition from historical consumer products to new business lines is unfolding over time.
Recent news has highlighted Capstone’s strategic focus on developing a health, fitness and social activities business, including plans for in-person sports-entertainment recreational centers aimed at children, adults and families. Releases also describe the company’s efforts to license its Connected Chef kitchen tablet, a purpose-built smart device for kitchen environments, under a worldwide license agreement with T&B Media, Ltd.
Investors and observers can use this page to track announcements about working capital funding from Coppermine Ventures, LLC, which Capstone has described as essential for basic corporate maintenance and compliance while it has no revenue-generating operations. Governance-related news, such as the appointment of a new Chief Executive Officer and additional directors with experience in sports, fitness, commercial strategy and government relations, is also documented here.
Because Capstone is in a transition phase, its news flow often covers strategic realignments, memoranda of understanding related to potential application development for health, fitness and social activities facilities, and updates on its efforts to establish a new business line. By reviewing the articles on this page, readers can see how the company’s plans, funding sources and leadership structure are being communicated over time and can revisit prior announcements for historical context.
Capstone Companies, Inc. (OTC: CAPC) reported no revenue for Q3 2021 due to delays in product certification and testing. The company plans to produce 3,000 mirrors in 2021, but increased costs and transport issues may delay availability. Despite these challenges, a $1.5 million private equity placement in April 2021 has helped sustain operations. Management is addressing certification delays aggressively. Additionally, $700,000 has been pre-paid for components, and insiders have committed another $1 million to support inventory.
Capstone Companies, Inc. (OTCQB: CAPC) announced the completion of FCC EMC testing for its Smart Mirror program, with formal certification expected next week. The company noted significant delays attributed to the COVID-19 pandemic, affecting production and testing timelines. Chairman and CEO Stewart Wallach expressed pride in the team's resilience during these setbacks. Capstone aims to launch the Smart Mirror in Q4 2021 and invites consumers to reserve their mirrors via the updated e-commerce website.
Capstone Companies, Inc. (OTC: CAPC), a designer and manufacturer of consumer products, has announced the use of social media for corporate announcements, specifically on Twitter and its Investor Relations website. This change aims to enhance communication with investors and the public. The company encourages stakeholders to monitor these platforms for potentially material updates while also advising them to check SEC filings for comprehensive information on its financial status.
Capstone Companies, Inc. (OTC: CAPC) announced its Q2 2021 financial results, reporting no revenues due to delays in its Smart Mirror product launch caused by COVID outbreaks in Thailand and China. However, for the six months ending June 30, gross profit rose by $59.5K (85.9%) compared to 2020, while operating expenses decreased by $913K (43.3%) to approximately $1.194M. The net loss before tax was $1.074M, down from $2.038M in 2020. The company remains debt-free and increased cash by $580K during this period, indicating resilience amid pandemic challenges.
Capstone Companies, Inc. (OTC: CAPC) announced a conference call on August 13, 2021, at 11:00 a.m. Eastern, to update shareholders on its smart mirror campaign. CEO Stewart Wallach acknowledged shareholder support during the pandemic and stated that the webcast aims to provide insights into the product's initial availability. Additionally, the company invites participants to reserve their smart mirrors on its updated website. The press release highlights potential risks related to product launch challenges, competition, and the ongoing impact of the COVID-19 pandemic on operations and financing.
Capstone Companies, Inc. (OTC: CAPC) announced that Director Jeffrey Guzy exercised a non-qualified stock option, purchasing 100,000 shares at $0.435 each for a total of $43,500. The proceeds will support general working capital, particularly for the launch of the new Smart Mirror product line. CEO Stewart Wallach noted that Guzy's actions align with the company’s strategic direction. Guzy emphasized the significance of the Smart Mirror as a necessary shift in strategy, acknowledging market competition and the lack of established sales track records in this new product line.
Capstone Companies, Inc. (OTC: CAPC) reported its first quarter 2021 financial results, highlighting minimal revenue growth and the establishment of equity funding. CFO Gerry McClinton stated the focus will shift toward the rollout of the Smart Mirror, inventory building, and expanding social media outreach. Chairman and CEO Stewart Wallach emphasized that while financial performance has improved slightly, updates on the Smart Mirror program will be provided to shareholders, as it positions as the Company’s core future business.
Capstone Companies, Inc. (OTC: CAPC) will release its First Quarter 2021 financial results after market close on May 17, 2021. A conference call hosted by President Stewart Wallach and CFO Gerry McClinton will follow on May 18, 2021, at 10:30 a.m. ET to discuss these results, the Company’s strategy, and future outlook. Investors can access the call via phone or an internet webcast available on Capstone's website. A replay will be available until May 25, 2021.
Capstone Companies, Inc. (OTC: CAPC) has successfully raised $1.498 million through a private equity placement, selling 2,496,667 shares of restricted common stock to five accredited investors. This funding is aimed at enhancing the company's e-commerce inventory to meet consumer demand for rapid deliveries. Chairman and CEO Stewart Wallach expressed satisfaction in avoiding costly debt and aligning with investors supportive of its new product line. The placement was facilitated by Littlebanc Advisors, LLC and Wilmington Capital Securities, LLC.
Capstone Companies, Inc. (OTC: CAPC) reported significant declines in revenue and earnings for the full year 2020, largely attributed to the COVID-19 pandemic impact. Despite these challenges, the company successfully developed its Connected Surfaces program and plans to introduce the innovative Smart Mirror product. CEO Stewart Wallach highlighted the achievements during a tumultuous year, emphasizing the resilience in finalizing new product developments amid global supply chain disruptions.
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