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Microcap & Penny Stocks : GTI.C - Glenbriar Technologies

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From: JRod777/18/2017 10:24:05 AM
   of 13
 

GTI will have it's Q3 results in a couple weeks or sooner. Here are some major things to watch out for:


- Rebound in sales and profit(as per their Q4 2016 and Q1 2017 news releases)
- News projects to be announced ( Q4 2016 mentioned a shift to senior health and living facilities)
- Reduced expenses due to partnering with USS.V
- Potential takeover as USS now owns over 81% of GTI's common shares and this is the likely outcome(shareholders need to vote still)


Q2 2017 Did not have a news release but did show a $24,000 net profit. This was after $16,000 was taken from the finance expenses which no longer exists. Therefore GTI will be running leaner and more profitable working with USS.V


News from Q1 2017:


Revenue decreased 27 per cent for the quarter ended Dec. 31, 2016, from the prior-year period, made up of a 7-per-cent decrease in services and a 59-per-cent decrease in equipment and software sales. These changes reflect some large projects that are under way with new clients, which are building new facilities that will be placed under managed services with Glenbriar and moved into Glenbriar's cloud data centre in the third quarter of 2016. Project revenue was negatively impacted by continued reduced economic activity in Alberta. Net loss increased to $157,601 from $86,763 for the prior-year period, due to timing differences of $73,810 in audit and legal fees ($20,000 in 2016), lower hardware sales due to a lack of big projects, bankruptcies of some Alberta clients, and higher foreign-exchange expenses. It is expected that revenue and income will recover substantially in the second quarter of 2017.


News from Q4 2016:


Revenue increased 12 per cent in 2016, made up of a 1-per-cent decrease in services revenue and a 48-per-cent increase in equipment sales. Most of the change reflects a reduction of services to the oil and gas sector, which experienced continued decline in Alberta due to low oil prices, resulting in several clients going out of business, deferral of project work and reduced services due to declining staff counts. This downturn was offset by Glenbriar actively diversifying its client base outside of the energy sector and into senior health and living facilities. A number of new projects in this latter sector resulted in an increase in equipment sales, which is unlikely to be repeated in fiscal 2017, although a pickup is expected by the fourth quarter in equipment sales to that sector. In addition, Glenbriar made major investments in 2015 in data centre and back-office infrastructure to facilitate the shift to a cloud-centric service model, which investments were continued on a substantially reduced basis until January, 2016. Gross margin remained steady at 32 per cent in 2016 and 2015, compared with 26 per cent in 2014. The move to a cloud-centric services model increases fixed costs in relation to variable costs, making operations less profitable in a downturn and more profitable in an upturned economy. Net income was $43,784 in 2016, up from a loss of $191,629 in 2015.
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