Glenbriar Technologies Inc. Q3 Results. Financials + MD&A (Ending June 30th 2017)
Information taken from www.sedar.com on August 3rd 2017
Common Shares: 130,421,510
Insider Holdings: 106,855,804 or 81.9% – All Held By USS.V – See July 4th news
Retail Float Available: 23,565,706
Accounts Receivable: $330,111
Prepaid Expenses: $37,421
Property & Equipment: $485,117
Total Assets: $957,087 (Last Quarter - $1,051,128)
Accounts Payable: $393,020
Finance Lease(Current): $48,353
Finance Loan(Current): $25,753
Deferred Revenue(Current): $5,971
Deferred Revenue(Remaining): $86,542
Loan Payable(Remaining): $83,069
Finance Lease(Remaining): $8,051
Finance Loan(Remaining): $13,627
Deferred Rent: $25,883
Total Liabilities: $688,269 (Last Quarter - $1,580,755) – $840,000 raised to clean debt
Asset/Debt Ratio: 1.4:1
Date – Revenue – Profit//(Loss)
Q3 2017 - $732,343 - $68,544
Q2 2017 - $669,428 - $24,489
Q1 2017 - $790,846 – ($157,601) – Change in business (one time issue)
2016 YE - $4,695,552 - $43,784
2015 YE - $4,184,230 – ($191,629) – Oil downturn affected results significantly
2014 YE - $5,953,532 - $271,122
Glenbriar’s customers will benefit from a larger dedicated customer support structure and Tier 2 data centre based in Vancouver, a Tier 3 facility on the east coast, and a cross-country network. Uniserve also provides a strong strategy group focused on the data centre space, which Glenbriar’s customers can benefit from. Universe’s existing customers and prospects will benefit from Glenbriar’s 20 plus strong managed services team, increased IP telephone capability and a dedicated “software as a service” (SaaS) team based In Waterloo.
New projects are in the design phase for rolling out over the next 2 quarters. Cloud deployments, mobility functionality, managed services and print services will continue to grow in enterprise environments, and bring with them the need for increased emphasis on security. Glenbriar is actively seeking upgraded technologies to meet these new requirements.
Glenbriar has transferred its internal infrastructure to the Cloud infrastructure, and is migrating hosted clients and new Cloud hosted clients as well. By focusing on keeping the data in Canada, new hosting opportunities arise in industries that are sensitive to the location and storage of their data and intellectual property, such as health care, financial services, technology innovation and natural resources. Glenbriar doubled its storage capacity to its Cloud data centre in 2016 to meet current and future demand.
Glenbriar will be combining its operations with Uniserve over the coming months in order to increase efficiencies and reduce overhead. Accordingly, Glenbriar will not directly seek additional equity or debt financing, but will pursue such opportunities in conjunction with Uniserve, including the implementation of a robust marketing and sales program and reviewing strategic acquisitions.