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Last $1.70 USD
Change Today 0.00 / 0.00%
Volume 0.0
BMER On Other Exchanges
As of 8:10 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

boomerang systems inc (BMER) Snapshot

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03/5/15 - $3.55
52 Week Low
06/17/15 - $1.30
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boomerang systems inc (BMER) Details

Boomerang Systems, Inc. designs, engineers, manufactures, installs, services, and markets automated parking systems. Its RoboticValet system is an omni-directional and battery-powered robot that carries vehicles parked on self-supporting steel trays to and from storage spaces. The company serves residential apartments and condominiums, office complexes, car dealerships, public garages, hospitals, casinos, hotels, airports, service facilities, and universities in the United States and Canada. Boomerang Systems, Inc. is headquartered in Florham Park, New Jersey.

29 Employees
Last Reported Date: 12/29/14

boomerang systems inc (BMER) Top Compensated Officers

President, Manager of Sales & Marketing and D...
Total Annual Compensation: $150.0K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $125.0K
Compensation as of Fiscal Year 2014.

boomerang systems inc (BMER) Key Developments

Boomerang Systems, Inc. Announces Change in Executive Structure

On June 5, 2015, Boomerang Systems, Inc. eliminated the position of chief operating officer from its organizational structure. George Gelly, who served in such capacity until June 5, 2015, was appointed senior vice president, software, strategy, and architecture.

Boomerang Systems to Install 577-Space RoboticValet® System at HERE Lawrence, Kansas Student Housing Project

Boomerang Systems, Inc. has signed an agreement to manufacture and install a RoboticValet system for a student housing project adjacent to the University of Kansas campus in Lawrence, Kansas. The 577-space RoboticValet system will serve the 592-bedroom complex being developed by HERE Lawrence Property Owner LLC, a joint venture between Chicago-based developers HERE Enterprises LLC and CA Student Living, a division of CA Ventures (formerly Campus Acquisitions). The project is presently under construction and is scheduled for completion in 2016. This is the second RoboticValet system that Boomerang has been contracted to provide for HERE and CA Ventures.

Arbitrator Issues an Interim Arbitration Award to Boomerang Systems, Inc. in Court Complaint Filed by Crescent Heights

In October 2009 Boomerang Systems entered into a Contract with Crescent Heights R&D, LLC to provide a rack and rail-type automated parking system for Crescent Heights. In March 2013, Crescent Heights filed a state court Complaint against Boomerang in the State of Florida alleging Fraud in the Inducement, Equitable Rescission based on Fraud, Mutual Mistake, and Breach of Contract related to the automated parking system, and seeking the remedies of specific performance, rescission of the Contract, and a Declaratory Judgment regarding a limitation of liability clause, as well an unspecified amount of monetary damages in excess of the Contract's purchase price. Boomerang and Crescent Heights agreed to arbitrate the matter in Miami, Florida with the American Arbitration Association. In arbitration, Crescent Heights alleged an initial claim of $10,000,000, and later specified damages in a greater amount of $17,769,755.


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