ASCONI CORP (OTN) (ASCD.PK)

Asconi Corporation engages in the production, marketing, and distribution of wines and spirits in eastern Europe. It involves in the distribution of bottled wines and spirits internationally; grape processing and production of a range of wines; processing, storage, and aging of wine; and production of spirits, including vodka and brandy The company's wines are categorized as white or red/rose, and ordinary or aged. These are further categorized as dry, semidry, semisweet, sweet, dessert, and fortified wines. In addition, it produces and sells various types of vodka and brandy, including seven varieties of brandy Asconi also sells wine in bulk to other wineries in Moldova for bottling under their brand name. The company sells its products to distributors for resale to retail outlets, including grocery stores, package liquor stores, club and discount stores, and restaurants. Asconi was founded in 1994 and is headquartered in Oviedo, Florida.

For the nine months ended 30 September 2005, Asconi Corporation's revenues increased 31% to $18.7M. Net income decreased 29% to $1M. Revenues reflect an increase in turnover attributed to higher sales volume with a decrease in average prices. Net income was offset by increased depreciation & amortization expense, lower other income and increased taxation. Asconi Corporation is engaged in marketing & selling of premium Moldovan wines.