| Business Summary | | Torchmail
Communications,
Inc.,formerly
known
as
ERLY
Industries,
Inc.,
was
an
international
rice
company
engaged
in
the
processing,
packaging
and
marketing
of
rice.
The
Company
marketed
white
rice,
instant
rice,
parboiled
rice,
brown
rice
and
rice
mixes,
and
also
has
a
forest
fire
retardant
and
an
agricultural
consulting
business.
Since
August
20,
1999,
the
Company
has
not
engaged
in
any
business
activities.
The
Comapny
filed
a
voluntary
petition
for
reorganization
under
Chapter
11
of
the
United
States
Bankruptcy
Code,
in
the
United
States
Bankruptcy
Court
for
the
Southern
District
of
Texas,
Corpus
Christi
Division
(the
Bankruptcy
Court)
on
September
28,
1998.
The
Bankruptcy
Court's
confirmation
order
of
the
Joint
Plan
of
Reorganization
as
modified
became
effective
August
20,
1999.
This
completed
a
significant
financial
restructuring
which
resulted
in
the
Company
retaining
no
assets
of
value
and
a
discharge
of
all
liabilities. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Torchmail
Communications
Inc.
emerged
from
voluntary
bankruptcy
on
August
20,
1999
with
no
ongoing
operations.
The
management
has
and
continues
to
evaluate
various
business
plans
and
alternatives
strategies
for
the
Company
to
pursue.
For
the
nine
months
ended
12/00,
the
Company
reports
no
revenues.
Net
income
totalled
$86
thousand.
Results
are
not
comparable
due
to
the
development
stage
under
reorganization
after
the
Company
filed
bankruptcy
on
9/28/98. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Nanette Noland Kelley, 41 | Chairman,
Pres, CEO |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|