SNF.V - Sunora Foods Inc.
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Sunora Foods Inc. Due Diligence Report

Symbol: SNF.V
Price: $0.12
Common Shares: 42,254,332
Insider Holdings: 32 million (75.7%, CEO owns 30 million alone)

Most Recent Financial Results (Ending September 30th 2015)

Cash: $2,752,139
Accounts Receivable: $1,163,447
Inventory: $486,377
Prepaid Expenses: $4,501
Deferred Tax: $150,062
Total Assets: $4,556,526

Accounts Payable: $819,939
Income Tax: $120,165
Total Liabilities: $940,104

Quarterly Earnings Summary:
2014 Total - $189,073
2015 Q1 - $189,073
2015 Q2 - $110,940
2015 Q3 - $198,771

Revenue After 9 Months
Sales - $8,452,570
Gross Margin - $945,250
Total Costs - $211,985
Income Before Tax - $733,265
Net Income - $549,949 or $0.013c EPS

MD&A Highlights

Sunora is a Calgary-based trader and supplier of canola, soybean, corn, olive and other food oils. Currently, the Company is a relatively modestly-sized player participating in an international business populated by some of the largest companies in the world. It has successfully maintained a niche position that has been achieved by building strong relationships with its suppliers and customers through a history of reliable and responsive service. While the Company regularly cooperates with many of these companies, it also occasionally competes with companies that have far greater resources.

Sunora had sales in line with expectations for the nine month period ended September 30, 2015. Sales were negatively impacted by a decline in oil related commodity prices of over thirty percent and bulk oil sales declined in the third quarter.

The $549,949 of net income and comprehensive income in the nine months ended September 30, 2015 was due to better gross margins attributable to a continuing higher percentage of packaged oil sales versus bulk oil sales. Profitability also benefitted from the positive impact of the foreign exchange gains.

The foreign exchange gain or loss arises primarily as a result of inventory purchases and sales, to the extent that they are denominated in US currency.

Sunora's cash balances increased $967,992 in the nine months ended September 30, 2015. This increase since December 31, 2014 resulted primarily from higher income for the nine month period, the reduction of inventory, and a decrease in accounts receivable affect slightly by a decrease in accounts payable and accrued liabilities during that period. Sunora’s cash balance increased during the nine months ended September 30, 2015 primarily due to an increase in net income, a decrease in inventory and decrease in receivables offset partly by decrease accounts payable and accrued liabilities during that period

Sunora maintains strong relationships with a number of strategically located customers internationally and in North America. These relationships continue to drive demand for food oil products from Canada, with Sunora well positioned to meet existing and additional demand. Management has focused on increasing visibility in emerging markets, with a specific focus on international economies including Asia, and has met this increased demand with Canadian manufactured food oil products. Sunora operations can be impacted by geopolitical situations that may restrict delivery, but this has not significantly hindered operations to date. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.

The financial position of the Company is strong relative to its financial requirements and commitments. Management has maintained a conservative approach to day-to-day operations, monitoring the timing of its inventory turnover closely to ensure it can meet its obligations to suppliers within their credit facilities. Collections from customers are stringently managed such that substantially all receivables at September 30, 2015 were less than 60 days old. Sunora's Current Ratio (Current Assets divided by Current Liabilities) target as set by management is 2.0:1. Including its cash balance of $2,752,138 at September 30, 2015, Sunora's Current Ratio at September 30, 2015 was 4.7:1. The Company has continued to have a strong working capital position. Additionally, the Company has neither debt nor any financial obligations other than to fund its operations.
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ReplyMessage PreviewFromRecsPosted
55Sunora Foods Q3 Results ( Ending September 30th 2017 ) All Information BelowJRod77-November 28
54 Canola Council of Canada completes successful China trip https://www.manitobaJRod77-November 27
53SNF.V Simply Wallstreet Report General Report -> More DetaiJRod77-November 4
52 Here's the breakdown of sales based on the numbers yesterday. I emailed thJRod77-November 1
51 October 31, 2017 – CALGARY, ALBERTA. Sunora Foods Inc. (the “Corporation”) (TSXJRod77-October 31
50 AG Note: Sept. 28, 2017 Posted Sep. 28th, 2017 Alberta showcasJRod77-October 2
49Robin Speziale, author of Market Masters, which is one of the top selling books JRod77-September 4
48Sunora Foods Q2 Results(Ending June 30th2017) All Information Below Can Be FounJRod77-August 30
47 Sunora Foods earns $82,525 in Q2 2017 2017-08-29 08:06 MT - News Release Mr. JRod77-August 29
46 Less than 10 business days left to go before SNF’s Q2 results are out. In thJRod77-August 21
45Using Canola Oil To Clean Up Mercury 2 to 3 weeks to go until financial resultJRod77-August 10
44 Sunora Foods estimates Q2 2017 sales of $3.26-million 2017-07-06 09:46 MT - NeJRod77-July 6
43 Canola revolution: How an experiment turned CanaJRod77-June 5
42 Sunora Foods May 2017 Export Catalogue (Alberta Government) 5
41Sunora Foods Q1 Results. Financials + MD&A Highlights Price: $0.20 Common SJRod77-May 31
40New company presentation: 31
39Sunora Foods earns $66,560 in Q1 2017 2017-05-30 07:59 MT - News Release Mr.JRod77-May 30
38 CALGARY — Strong demand from China helped lift canola JRod77-May 18
37 Organic canola group QAI has added Sunora's products http://www.qai-inc.cJRod77-May 18
36Canola oil demand to rise in China - producer.comJRod77-May 8
35 Spring presentation has some more possible leads to where Sunora Foods is heaJRod77-May 3
34 Sunora Foods Inc. (SNF.V) Audited Year End Results Price: $0.255 Common ShJRod77-April 30
33Sunora Foods earns $282,794 in 2016 2017-04-28 13:34 MT - News Release Mr. JRod77-April 30
32 Saw this article today and did a little more research and confirmed that it is JRod77-April 15
31 Edible oils in India article, easy market that SNF could penetrate along with EJRod77-April 12
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