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Prospector
Profile
c08
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| Ronson Corporation |
NAICS |
339900 |
| P.O. Box 6707
Somerset, NJ 08875 |
Description |
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| (732) 469-8300 |
Employees |
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| http://www.ronsoncorp.com/ |
Revenue |
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$ 24.19 |
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Income |
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$ 1.65 |
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Assets |
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$ 14.84 |
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Liability |
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$ 13.24 |
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(for the year ended - 12-31-2008) |
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Category:
Loss/Deficit
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Event:
Ronson Corporation reported a net loss of $1,641,000 for the three months ended Sept. 30, 2009, from a net loss of $487,000 for the same period a year ago. Ronson reported a net loss of $3,533,000 for the nine months ended Sept. 30, 2009, from a net loss of $986,000 for the same period a year ago.
At Sept. 30, 2009, the Company had $15,333,000 in total assets against total current liabilities of $16,516,000, long-term debt of $13,000, other long-term liabilities of $1,724,000, and other long-term liabilities of discontinued operations of $494,000, resulting in $3,414,000 in stockholders' deficit.
The Company's losses and difficulty in generating sufficient cash flow to meet its obligations and sustain its operations, as well as existing events of default under its credit facilities and mortgage loans, raise substantial doubt about its ability to continue as a going concern.
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Intellectual Property:
The Company maintains numerous patents and trademarks for varying periods in the United States, Canada, Mexico and a limited number of other countries. While both industry segments may benefit from the Company's name as a registered trademark, the patents and trademarks which are held principally
benefit the consumer products segment of the Company's business. The "Ronson" brand is of major value to the Company. [SEC Filing 10-K 04-15-09]
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Description:
Ronson Corporation is engaged in two businesses: Consumer Products, and Aviation-Fixed Wing and Helicopter Services. The consumer packaged products, which are manufactured in Woodbridge, N.J., include Ronsonol lighter fluid, multi-fill butane fuel injectors, flints, wicks for lighters and a multi-use penetrant spray lubricant product under the trade name, Multi-Lube. Ronson Aviation, Inc. (Ronson Aviation), a wholly owned subsidiary of the Company, provides a range of general aviation services to the general public and to government agencies.
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Officers:
Louis V. Aronson II (Pres. & CEO); Daryl K. Holcomb VP & CFO); Erwin M. Ganz (Dir. & Treas.)
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Auditor:
Demetrius & Company LLC
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Securities:
Common Stock Symbol RONC; OTC BB; 5,083,539 shares of common stock outstanding as of Sept. 30, 2009.
$2,138,000 mortgage loan;
Equipment Term Loan;
Real Estate term loan.
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