BNET Industries

Market Cap:$3.2M
Last Fiscal Year Sales:$276.4M
  • Public
  • US
Dow Jones Description

This company is more than Able to get energy to its destination. Founded in 1989 and headquartered in Rockaway, NJ, Able Energy, Inc. (NASDAQ-CM: ABLE) distributes and markets heating oil, propane, and diesel fuel. The company has over 32,000 residential and commercial customers in Florida, New Jersey, and Pennsylvania. It also supplies fuels to fleet operators in Florida and offers HVAC and installation services. The company has annual revenue of about $62 million and employs about 100 people. In November 2005, it teamed up with TransMontaigne Inc., a leading supply chain management and fuel logistics company, to significantly increase the distribution and utilization of biodiesel, a clean-burning, soy-based alternative fuel product.

Chairman, Chief Executive Officer & Director
Gregory D. Frost
Number of Employees 501
Contact Information

198 Greenpond Rd

Rockaway, New Jersey 07866

ableenergy.com

(973) 625-1012

NAICS Code Heating Oil Dealers: 454311

News & Analysis

able energy inc. and stock - All News and Analysis

Decision Makers

Name (plus bio) Position
Richard A Mitstifer President
Daniel L Johnston Chief Financial Officer
Jeff Feld Acting Chief Financial Officer
John F. OBrien Interim CFO
John L. Vrabel Coo
Steven M. Vella CFO
William Roger Roberts Chief Operating Officer
Frank Nocito Executive Vice President
Louis Aponte Vice President of Special Projects
Tim Harrington Picture of Able Energy Founder
Gil Gonzalez Franchise Owner
Mary Burns Customer Service Representative

Board of Directors

Name (plus bio) Position
Gregory D. Frost Chairman, Chief Executive Officer & Director
C Edward Jr Board of Directors
Christopher P. Westad Board of Directors
Mark Barbera Board of Directors
Patrick O'Neill Board of Directors

Gregory served as Able Energy's General Counsel since 2005. Formerly a partner with Ferber, Frost, Chan & Essner, LLP a full service law firm established over 20 years ago in New York City. Gregory's practice areas include corporate law, securities, and mergers & acquisitions. Gregory graduated from New York Law School in 1973 and was admitted to the New York Bar in 1974. He went on to New York University School of Law, earning his LL.M. in 1979. Gregory also serves on the Board of Directors of HugeClick.com and Zootech 2000, Inc.

Organization Position Status
Able Energy, Inc. Chairman, Chief Executive Officer & Director Current
Able Energy, Inc. General Counsel Former
Able Energy, Inc. Board of Directors Former
New York Law School Former

Richard A. Mitstifer, age 50, graduated from Muhlenberg College in 1979 with degrees in Business Administration and Accounting. He entered the banking industry in 1979, where he had a sixteen-year career in commercial lending, gaining exposure to several types of businesses from retail to manufacturing. He joined AAP in 1995 as Vice President of Finance, where he oversaw all banking, insurance, human resources and accounting functions. He became President of All American Plazas (AAP) in 2003, and was appointed president of Able Energy Inc on September 24, 2007.

Organization Position Status
Able Energy, Inc. President Current
Muhlenberg College Degrees In Business Administration and Accounting Former

Daniel L. Johnston, CPA, became All American’s Controller in early 2006. He has an extensive financial background, having worked for Price Waterhouse where as Senior Accountant; he was involved for audits of several large companies. Dan also worked for some family owned travel plazas as Vice President and then Treasurer, handling all accounting, IT, HR, and Administrative functions. He holds a degree in Business Administration/Accounting having graduated from Westminster College in 1984. Dan was appointed CFO of Able Energy Inc on September 24, 2007.

Organization Position Status
Able Energy, Inc. Chief Financial Officer Current
Westminster College Degree In Business Administration, Accounting Former

JEFFREY S. FELD became Acting Chief Financial Officer of the Company in September 2006 and served as Controller since 1999. From 1992 to 1999, he was Controller of Tramz Hotels, Inc a hotel management company located in Warren, New Jersey. Previously, Mr. Feld was employed as Controller for RMA Associates, a food service management company based out of Media, Pennsylvania. He received a B.S. in Accounting from Franklin Pierce University in Rindge, New Hampshire.

Organization Position Status
Able Energy, Inc. Acting Chief Financial Officer Current
Able Energy, Inc. Controller Former
Rma & Associates, Inc. Controller Former
Able Energy, Inc. Board of Directors Former

Organization Position Status
Able Energy, Inc. Interim CFO Current

John has been involved with PriceEnergy since the business was launched in 2000. John brought to PriceEnergy over 25 years experience in building and operating successful businesses for both large and small organizations. Prior to joining PriceEnergy, John was employed by Conectiv (now part of Pepco Holdings, Inc.), the Fortune 500 energy and energy-services company, where he held several positions, most recently as Vice President of Business Development for their e-commerce business. John has also been Executive Vice President of HSA International with responsibility for marketing, operations and development of their nationwide network of trade referral offices. John also has 16 years experience as a consumer packaged goods marketer, having spent 13 years with Hormel Foods Corporation, leading their new product development efforts. John has also served as Director of Marketing with Snyders of Hanover, the international snack company. John received his BBA in Marketing from the University of Houston and has done postgraduate studies in Baldwin Wallace College's Executive MBA program.

Organization Position Status
Priceenergy.Com, Inc. Chief Operating Officer Current
Able Energy, Inc. Coo Current
Able Energy, Inc. Vice President of Business Development Former
Conectiv Vice President of Business Development Former
Snyder's of Hanover, Inc. Director of Marketing Former
Hormel Foods Corporation Former
Baldwin-Wallace College Mba Program. Former
The University of Houston Bba In Marketing Former

Organization Position Status
Able Energy, Inc. CFO Current

William Roger Roberts was appointed COO of Able Energy Inc. on September 24, 2007. Roger has over 30 years experience in both retail and the petroleum industries. Before joining All American Plazas in 2002 as Vice President and Chief Operating Officer, he spent several years in the operations management of various energy and truck stop organizations, which include, Benton Service Oil Company, Interstate Facilities and Coleman Oil Company, where he was VP of Operations. Roger also managed facilities with Pantry Convenient Stores and Food Franchises, Inc.

Organization Position Status
Able Energy, Inc. Chief Operating Officer Current

FRANK NOCITO became Vice President Business Development of the Company in April 2005 and was appointed Executive Vice-President, Business Development on September 24, 2007. Previously, from 2003 and through April 2005, Mr. Nocito was Vice President of All American Plazas, Inc., which is now doing business as All American Properties, Inc. ("Properties"), which owned and operated ten truck plazas located in Pennsylvania, New York, New Jersey and Virginia. On May 30, 2007, the Company acquired the operating assets of these plazas and Properties retained ownership of the underlying real estate upon which the plazas are located, together with any buildings and improvements on the respective properties. Properties own approximately 74% of the outstanding common stock of our Company. In 2003, Mr. Nocito, as Vice President of All American Industries Corp., acquired all of the issued and outstanding stock of Properties. In 2004, Mr. Nocito and his wife created, for the benefit of their family members, including seven children, the Chelednik Family Trust, and approximately 85% of the issued and outstanding stock of Properties is beneficially owned by the Trust. In 2002, as a consultant to two start-up corporations, American Truck Stop of Belmont Inc. and American Truck Stop of Carney Inc., Mr. Nocito assisted the new entities in acquiring two truck plazas located in the Northeast. Subsequent to the purchase of these two truck plazas, he became in November 2003, and remains, a vice president of both corporations. In 2001, Mr. Nocito was employed by WDF/Keyspan, Inc., as a supervisor in charge of multi-million dollar conversion projects for the New York City School System, converting school facilities from coal to oil and gas systems. In 1996, under cover of a 1994 sealed indictment that had never been acted upon, an indictment was issued against Mr. Nocito for conspiracy to commit money laundering. The charge was the result of his political activities as part of the Republican Party and events arising out of the United States Government's support of the Nicaraguan Government under the Sandinista regime. In late 1998, Mr. Nocito accepted a plea offer that resulted in his serving a 19-month detention plus three years probation, which ended May 2004. Mr. Nocito's educational background includes his attending Syracuse University, Marymount College/Fordham University and Nova University.

Organization Position Status
Able Energy, Inc. Executive Vice President Current
Able Energy, Inc. Vice President of Business Former
Belmont, Inc. Consultant Former

Louis Aponte, age 34, has over eleven years of experience in construction, mechanical drafting project development and project management. He worked for Automated Building Concepts from 1995 to 1997, installing building automation systems and completed projects for Rikers Island Correctional Facility and St. Croix Hospital. From 1997 to 1999, Mr. Aponte worked for Cox Mechanical/Modular Mechanical ("Cox") as Project Manager and completed several modular school additions including West Side High School, P.S. 360 and P.S. 340 in New York City, New York. After WDF/Keyspan acquired Cox in 1999, he was promoted to Senior Project Manager in charge of multiple projects, which included P.S. 156, P.S. 222 and P.S. 28 in New York City. Mr. Aponte joined AAP in February 2002 as Vice-President of Real Estate Development and Construction. He was also in charge of the day-to-day IT operations at AAP's truck stop plazas. He was was appointed VP of Special Projects of Able Energy Inc on September 24, 2007.

Organization Position Status
Able Energy, Inc. Vice President of Special Projects Current

Organization Position Status
Able Energy, Inc. Picture of Able Energy Founder Current

Organization Position Status
Able Energy, Inc. Franchise Owner Current

Organization Position Status
Priceenergy.Com, Inc. Manager of Customer Relations Current
Able Energy, Inc. Customer Service Representative Current

Organization Position Status
Able Energy, Inc. Board of Directors Current

Organization Position Status
Priceenergy.Com, Inc. Chief Executive Officer Current
Priceenergy.Com, Inc. Director Current
Able Energy, Inc. Board of Directors Current
Able Energy, Inc. President, Acting Chief Executive Officer Former
Priceenergy.Com, Inc. Director, Priceenergy Former
Long Island University B.A. In Business and Public Management Former

Mark Barbera is a shareholder of Trautman Wasserman & Company Inc. Prior to joining Trautman Wasserman & Company in 1993, Mr. Barbera was founder, President and principal shareholder of Sphere Capital Corp., a registered broker-dealer. In addition to Sphere Capital, he ran Barbera & Associates, a financial and operational consulting firm serving the registered broker-dealer community. Mr. Barbera also worked with M.D. Sass Associates, a Registered Investment Advisor. Mr. Barbera began his career with the public accounting firm of Deloitte & Touché, LLP where he was an auditor and received his license to practice as a Certified Public Accountant in the State of New York. Mr. Barbera serves as the Acting Chief Financial Officer for numerous portfolio companies of Trautman Wasserman. Mr. Barbera earned his BA degree from The State University of New York at Buffalo where he graduated cum laude.

Organization Position Status
Able Energy, Inc. Board of Directors Current

Patrick O'Neill has served as a Director of the Company since 1999. Mr. O'Neill has been involved in the management of real estate development and construction management for over 20 years, and has served as the President of Fenix Investment and Development, Inc., a real estate company based in Morristown, New Jersey, for the past ten years. Prior to that, Mr. O'Neill served as Vice President of Business Development for AvisAmerica, a Pennsylvania-based home manufacturer. Mr. O'Neill holds a B.S. from the United States Military Academy.

Organization Position Status
Able Energy, Inc. Board of Directors Current
NYNEX Vice President of Individual Communication Services Former
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     ABLE $0.22 0.00 (0.00% )
Average Volume 9,623
Shares Outstanding 3.13M
Market Cap 688.4K
Year High 0.39
Year Low 0.041
Earnings Per Share N/A
P/E Ratio -
Dividend N/A
Yield N/A
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