Marmion's Q Provides Hope for Future

Not a word out of Marmion Industries Corp. (OTCBB: MMIO) for nearly a month. Thankfully, the company's recent 10Q shed some light on what has been transpiring at the emerging HVAC provider.

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Here are some of the highlights from MMIO's recent Q: * Q1 Revenue increased by more than 80% from Q4 '07; * Income from operations was $140,514 vs. a loss of (45,144) during Q1 '07; * Net loss of (75,895) vs. net losses of ($517,861) and ($427,000) for the first and fourth quarters of 2007 respectively; * Revenues increased approximately 15.6% over Q1 '07; * Approximately 33% of revenues were attributable to petrochemical industry and approximately 67% were attributable to the commercial business; * Gross profit margin improvement of 8.7% to 24.5% over Q1 '07; * Total Cost and Expenses increased approximately 6% over Q1 '07; * G&A expenses decreased approximately 3.5% over Q1 '07; * D&A expenses increased approximately 37% over Q1 '07; and * Net cash used in operating expenses was $443,174 vs. $147,286 in Q1 '07. "Form 10-Q for MARMION INDUSTRIES CORP"

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MMIO's Financial Highlights from 2004 - 2007: * Produced revenues with a CAGR of 53.27%; * Improved Profit Margin by 231% from -284% to -53%; * Maintained an average Gross Margin of 19.25%; and * Successfully sustained an average GMROI of 331% The company has also recently expanded into the Louisiana marketplace, a hotbed for petrochemical activity. According to the filing “Our long-term plans for growth include continued expansion of our industrial base into Louisiana. We have obtained the necessary licenses in Louisiana and during the first quarter of 2008 we received our first orders from customers in Louisiana." Including offshore production, Louisiana is the number one producer of crude oil and the number two producer of natural gas among the 50 states. The oil & gas industry is a giant economic engine for Louisiana's economy, supporting $70.2 billion in sales for Louisiana firms (Louisiana Mid-Continent Study, 2007). So, the move into this new region appears to be a wise one. "Marmion Industries Corp. Financials"

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Quarter-Over-Quarter Balance Sheet Comparison Here's a comparative look at changes to MMIO's balance sheet between March 31, 2008 and December 31, 2007 (is USD): Working capital (deficit): 68,366 Cash: (297,728) Accounts receivable, net: 442,336 Inventory: 108,136 Total current assets: 258,857 Property and equipment, net: 69,349 Total assets: 310,707 Accounts payable: (84,115) Convertible notes payable 89,571 - current: Factor payable: 228,142 Total current liabilities: 327,223 Total liabilities: 331,406

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Share price has been pretty much parked at $.01 with very little volume after showing some signs of momentum back in late April/early May. As we have seen before, however, just a little bit of positive corporate news can surely get things back on track. The question is, when will that be?