Financials + MD&A (Q1-Q3 Below) **Note** Year End Results Out End Of January 2018
Sales (9 Months) Revenue: $3,769,730 (2016 - $3,099,42) Expenses: $3,572,521 (2016 - $3,288,296) Net Income: $197,209 (2016 – Loss of $188,867)
$197,209 / 25,635,635 = $0.008c earnings per share for 2017
ASSETS - $1,804,430 Liabilities - $1,772,280 ($540K is deferred revenue and $41K bank loan, rest is payables)
The company was incorporated under the Alberta Business Corporations Act on October 12, 1999 and is in the business of commercial and residential construction and millwork. The Company continues having strong revenue in the commercial and residential construction business. The Company is still actively seeking more opportunity to provide construction services in the greater Vancouver area as well as business across Canada.
The Company has sufficient financial resources to continue operation and is expecting a stronger income generated from operations and even better liquidity position in the upcoming quarters. – Page 3 of MD&A
Sales have increased by $44K in the current period because there were more contracts in terms of number and value secured during the current quarter.
The subcontract and material costs equal to 49% of gross revenue, which has decreased compared to the previous year of 63%. This is due to the decreased costs of materials, supplies and subcontracts compared to the previous year.
The Company has commitments of $538,573 due to the lease agreement for its present location, which expires May 31, 2022. The Company has available a line of credit of $35,000 bearing interest at prime plus 3.5%, secured by a general security agreement and is due on demand. No amount has been drawn on the line of credit as at June 30, 2017.
-------------------- A proper due diligence will lead you into prosperity Posts: 130 | From: Canada | Registered: Jun 2008
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