Mace Reports Financial Results For The Third Quarter And Nine Months Ended September 30, 2011
Mace Security International, Inc. ("Mace" or the “Company”) (OTCQB: MACE) today announced financial results for the third quarter and nine months ended September 30, 2011.
Current Highlights
- Mace raised $8.2 million through a Rights Offering to its existing shareholders completed on August 1, 2011 generating net proceeds of approximately $4.3 million; a Securities Purchase Agreement completed on August 2, 2011 with Merlin Partners, LP and two other investors generating $3.75 million; and through the sales of registered shares not subscribed for in the Rights Offering for an additional $167,000.
- Mace appointed Michael E. Smith as the Company’s interim Chief Executive Officer, effective on August 18, 2011. Mr. Raefield, the Company's former Chief Executive Officer and President, resigned as Chief Executive Officer and a director of the Company after the completion of his employment contract.
- Mace completed the sale of certain assets and liabilities related to its Industrial Vision Source (“IVS”) high-end digital and machine vision camera and professional imaging components operation. The sale, which was completed on October 21, 2011, provided cash proceeds of $517,000 at closing and a possible further payment of $100,000 if certain post closing revenue levels are achieved by the buyer.
Michael Smith, CEO of Mace, stated, “The third quarter of 2011 was very important for our Company. We have re-capitalized the Company, made significant reductions in operating costs that will benefit future periods, and have renewed our focus on the fundamentals of our security operations.”
Mr. Smith added, “I am excited to be part of the Mace team. The Company has a great name and reputation for outstanding quality in the personal defense and security marketplace. I look forward to working with our dedicated employees in growing the Company through execution of a focused marketing and sales plan to expand the distribution and visibility of our products and services.”
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
