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SSA.V - Spectra Inc.(Auto Parts)
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[QUOTE]Originally posted by chiliandrillman: [QB] Spectra Inc. (SSA.V) Nine Month Results. All Information Available On SEDAR Ticker Symbol: SSA.V Current Price: $0.03 Common Shares: 60,509,971 Insider Holdings: 8.61% - All held by CEO Institutional Holdings: 30% (Dynamic Venture Opportunities Fund) Spectra Inc. has recorded 16 straight quarters of profits, with revenue increasing year over year Most Recent Financial Statements (September 2018) *Note* - Year End Will be out in March 2019, followed by Q1 2019 results in April ASSETS Cash: $353,454 Accounts Receivable: $291,734 Inventories: $196,269 Prepaid Expenses: 4,737 Total Assets: $846,194 LIABILITIES Accounts Payable : $214,884 Royalty Debenture: $639,940 Preferred Shares: $450,468 Total Liabilities: $1,305,292 9 Month Sales Revenue: $1,601,377 Cost Of Sales: $672,497 Gross Profit: $928,880 Total G&A Expenses: $541,944 Net Income: $386,936 or $0.0064 cents per share. Fair value at 10 times earnings is 6 cents Management Discussion Highlights The Company continues to focus its efforts on expanding the present market for its products while introducing those products into new markets as well as seeking out new products to complement our current wheel end safety offerings. The Company’s Signature Brake Safe® product is well established in the Canadian market and is gaining sales momentum in the lucrative American market. The Commercial Vehicle Safety Alliance [CVSA] is a nonprofit association comprised of local, state, provincial, territorial and federal commercial motor vehicle safety officials and industry representatives. The CVSA holds brake-focused enforcement events throughout the year to identify and remove commercial vehicles with dangerous brake issues from the roadways. Brakes out of adjustment continue to be the number ONE out service violation in North America as evidenced this year during International Roadcheck and Operation Air Brake. A program has been developed to educate companies of these enforcement changes and the resulting increased intervention by regulatory agencies in order to capitalize on sales opportunities for Brake Safe. The Company’s Termin-8R® product continues to receive strong industry acceptance with a corresponding growth in sales to the transportation segment. The private label arrangement made for a leading supplier to the commercial transport industry is proving to be an excellent performer. The Company will continue to form strategic distribution alliances in the United Sates to accelerate its wheel end safety product sales outside the Canadian marketplace. The Company may seek sufficient additional funds to provide working capital, inventory and capital equipment as needs arise, but at the moment, cash flow from operations is sufficient to support current needs The Company’s authorized share capital consists of an unlimited number of common shares; an unlimited amount of first, second, third and fourth preferred shares and 540,000 second preferred shares, Series 1. As at September 30, 2018, there were 60,509,971 outstanding common shares. As at September 30, 2018, the following is a description of the outstanding equity securities and convertible securities previously issued by the Company During the nine months ended September 30, 2018, the Company earned $423,643 in operating activities compared to earning $215,721 from operations during the same period in 2017. In 2018 non-cash items contributed $29,950 for the period compared to $15,035 for the nine months ended September 30, 2017. The Company made preference share redemptions of $125,000 in the nine months ended September 30, 2018, compared to making loan repayments of $150,000 in the nine months ended September 30, 2017. These resulted in a net increase in cash resources of $298,643 and a cash resources balance at the end of the period of $353,454. During the equivalent period in 2017, the Company showed a net increase in cash resources of $65,721 and a cash resources balance of $145,467 at the end of the period. Revenue: Three months ended September 30, 2018 Revenue for the three months ended September 30, 2018 increased by 29 percent to $559,181 compared to revenue of $432,186 for the three-month period ended September 30, 2017. The increase in revenue is attributable to increases in sales of Termin-8r® from $138,882 to $163,013; Brake Safe® from $193,172 to $264,152; Brake Inspector® from $2,244 to $6,899; Hub Alert® from $5,248 to $6,700 and sundry income from $29,244 to $60,228 offset by decreases in sales of Zafety Lug Lock® from $63,035 to $57,920 and Arrow Logger® from $361 to $269. Nine months ended September 30, 2018 Revenue for the nine months ended September 30, 2018 increased by 20 percent to $1,601,377 compared to revenue of $1,332,592 for the nine-month period ended September 30, 2017. The increase in revenue is attributable to increases in sales of Termin-8r® from $424,223 to $450,460; Brake Safe® from $583,496 to $756,570; Brake Inspector® from $19,603 to $21,975; Zafety Lug Lock® from $158,983 to $171,274; Hub Alert® from $23,253 to $35,725 and sundry income from $121,389 to $164,117 offset by decreases in sales of Arrow Logger® from $1,645 to $1,256. Gross Profit: Three months ended September 30, 2018 Gross profit increased by $99,298 for the three months ended September 30, 2018 to $323,988 or 58 percent of revenue from a comparable $224,690 or 52 percent of revenue for the three months ended September 30, 2017. Nine months ended September 30, 2018 Gross profit increased by 24% for the nine months ended September 30, 2018 to $928,880 or 58 percent of revenue from a comparable $749,297 or 56 percent of revenue for the nine months ended September 30, 2017. Gross profit margins will vary depending on the mix of product sales within the various product lines. In addition, the mix of distribution channels may affect margins when sales are generated through distributors, dealers and direct sales to OEM’s. [/QB][/QUOTE]
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