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Capstone Companies, Inc. Reports Sales Growth Of 20% In 2012 Fourth Quarter

Webcast and Teleconference to Review Results and Outlook

The Company will host a live webcast and conference call on Thursday, March 28, 2013 at 11:30 a.m. ET. During the call, management will review the financial and operating results and discuss the Company’s corporate strategy and outlook, followed by a question-and-answer session. The conference call can be accessed by dialling (201) 689-8562. The listen-only audio webcast can be monitored at www.capstonecompaniesinc.com.

A telephonic replay will be available from 2:30 p.m. ET the day of the teleconference until Thursday, April 4, 2013. To listen to the replay of the call, dial (858) 384-5517 and enter replay pin number 410608. Alternatively, the archive of the webcast will be available on the Company’s website at www.capstonecompaniesinc.com. A transcript will also be posted to the website, once available.

About Capstone Companies, Inc.

Capstone Companies, Inc. is a public holding company that engages, through its wholly-owned subsidiaries, Capstone Industries, Inc. and Capstone International HK, Ltd., in the development, manufacturing, logistics, and distribution of consumer and institutional products to accounts throughout North America and in international markets. See www.capstonecompaniesinc.com for more information about the Company and www.capstoneindustries.com for information on our current product offerings.

FORWARD-LOOKING STATEMENTS:

This news release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. Such statements consist of words like “anticipate,” “expect,” “project,” “continue” and similar words. These statements are based on the Company’s and its subsidiaries’ current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, include consumer acceptance of the Company’s products, its ability to deliver new products, the success of its strategy to broaden market channels and the relationships it has with retailers and distributors. Prior success in operations does not necessarily mean success in future operations. The ability of the Company to adequately and affordably fund operations and any growth will be critical to achieving and sustaining any expansion of markets and revenue. The introduction of new products or the expanded availability of products does not mean that the Company will enjoy better financial or business performance. The risks associated with any investment in Capstone Companies, Inc., which is a small business concern and a "penny-stock Company” and, as such, a highly risky investment suitable for only those who can afford to lose such investment, should be evaluated together with the risks and uncertainties more fully described in the Company’s Annual and Quarterly Reports filed with the Securities and Exchange Commission. Capstone Companies, Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Contents of referenced URL’s are not incorporated into this press release.

FINANCIAL TABLES FOLLOW. THE FOLLOWING SUMMARY FINANCIAL STATEMENT SHOULD BE READ ALONG WITH THE FORM 10-K FINANCIAL STATEMENT FILED BY THE COMPANY WITH THE SECURITIES AND EXCHANGE COMMISSION.

           

CAPSTONE COMPANIES INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 
For the Three Months Ended For the Twelve Months Ended
December 31, December 31,
2012     2011 2012     2011
 
Revenue $ 2,512,045 $ 2,099,669 $ 8,362,964 $ 10,248,840
Cost of Sales   (2,050,019 )   (1,575,089 )   (6,574,912 )   (7,770,823 )
Gross Profit   462,026     524,580     1,788,052     2,478,017  
Gross Margin 18.4 % 25.0 % 21.4 % 24.2 %
Operating Expenses:
Sales and marketing 147,220 29,296 364,263 146,355
Compensation 229,491 211,478 900,628 798,125
Professional fees 94,487 29,895 269,335 96,163
Product Development 35,033 56,818 227,087 197,290
Other general and administrative   99,851     116,413     359,795     368,534  
Total Operating Expenses   606,082     443,900     2,121,108     1,606,467  
 
Net Operating (Loss) Income   (144,056 )   80,680     (333,056 )   871,550  
Operating Margin (17.6 %) 3.8 % (4.0 %) 8.5 %
Other Income (Expense):
Interest expense   (91,677 )   (53,602 )   (274,127 )   (295,946 )
Total Other Income (Expense)   (91,677 )   (53,602 )   (274,127 )   (295,946 )
 
Net (Loss) Income   ($235,733 ) $ 27,078     ($607,183 ) $ 575,604  
 
Income (Loss) per Common Share
Basic $ -   $ -   $ -   $ -  
Diluted $ -   $ -   $ -   $ -  
 
Weighted Average Shares Outstanding
Basic   650,724,926     649,510,532     650,724,926     649,510,532  
Diluted   810,671,493     804,957,109     810,671,493     804,957,109  
 
 

CAPSTONE COMPANIES INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)

        December 31,     December 31,
2012 2011
Assets:
Current Assets:
Cash 411,259 $ 164,610
Accounts receivable - net 2,673,555 1,477,279
Inventory 584,370 58,717
Prepaid expense   351,003     417,743  
Total Current Assets   4,020,187     2,118,349  
 
Fixed Assets:
Computer equipment & software 66,448 64,047
Machinery and equipment 654,401 546,919
Furniture and fixtures 5,665 5,665
Less: Accumulated depreciation   (597,042 )   (546,193 )
Total Fixed Assets   129,472     70,438  
 
Other Non-current Assets:
Product development costs - net 27,280 13,624
Goodwill   1,936,020     1,936,020  
Total Other Non-current Assets   1,963,300     1,949,644  
Total Assets $ 6,112,959   $ 4,138,431  
 
Liabilities and Stockholders’ Equity:
Current Liabilities:
Accounts payable and accrued expenses $ 1,114,166 $ 526,936
Note payable - Sterling Factors 1,245,159 441,607
Notes and loans payable to related parties - current maturities   602,148     -  
Total Current Liabilities   2,961,473     968,543  
 
Long Term Liabilities
Notes and loans payable to related parties - Long Term   2,023,283     1,531,215  
Total Liabilities   4,984,756     2,499,758  
 
Stockholders' Equity:

Preferred Stock, Series A, par value $.001 per share,

authorized 100,000,000 shares, issued -0- shares

- -

Preferred Stock, Series B-1, par value $.0001 per share,

authorized 50,000,000 shares, issued -0- shares

- -

Preferred Stock, Series C, par value $1.00 per share,

authorized 1,000 shares, issued 1,000 shares

1,000 1,000

Common Stock, par value $.0001 per share, authorized

850,000,000 shares, 655,885,532 & 649,510,532 shares issued

at December 31, 2012 December 31, 2011

65,589 64,951
Related party receivable - -
Additional paid-in capital 7,137,933 7,041,858
Accumulated deficit   (6,076,319 )   (5,469,136 )
Total Stockholders' Equity   1,128,203     1,638,673  
Total Liabilities and Stockholders’ Equity $ 6,112,959   $ 4,138,431  
 
 
CAPSTONE COMPANIES INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
        For the Twelve Months Ended
December 31,
2012     2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Continuing operations:
Net Income (Loss) $ (607,183 ) $ 575,604
Adjustments necessary to reconcile net loss to net cash used in operating activities:
Stock issued for expenses 59,963 -
Depreciation and amortization 71,153 81,245
Compensation expense from stock options 36,750 80,686
(Increase) decrease in accounts receivable (1,196,276 ) (220,366 )
(Increase) decrease in inventory (525,653 ) 329,273
(Increase) decrease in prepaid expenses 66,740 109,819
(Increase) decrease in deposits - -
(Increase) decrease in other assets (33,960 ) (16,755 )

Increase (decrease) in accounts payable and accrued expenses

587,230 259,648

Increase (decrease) in accrued interest on notes payable

  144,216     82,019  
Net cash provided by (used in) operating activities   (1,397,020 )   1,281,173  
 
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment   (109,883 )   (59,381 )
Net cash provided by (used in) investing activities   (109,883 )   (59,381 )
 
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable 7,568,000 8,345,000
Repayments of notes payable (6,764,448 ) (8,793,100 )
Proceeds from notes and loans payable to related parties 3,043,000 2,400,000
Repayments of notes and loans payable to related parties   (2,093,000 )   (3,124,321 )
Net cash provided by financing activities   1,753,552     (1,172,421 )
 
Net (Decrease) Increase in Cash and Cash Equivalents 246,649 49,371
Cash and Cash Equivalents at Beginning of Period   164,610     115,239  
Cash and Cash Equivalents at End of Period $ 411,259   $ 164,610  
 




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