Biorem (v.brm). 0.43
Posted: Tuesday Jun 20 11:53:02AM 2017
Well, it's been a while, but BRM has been showing signs of life once again over the last few weeks.
Today, the company announced a partnership with TUS-Materials of China to market its ultra filtration membranes which provide containment barriers in water. This dovetails quite nicely with Biorem's air abatement systems. TUS is a environmental company based in Beijing (kind of an oxymoron) with over $30 billion in assets. Interestingly they recently took a stake in Biorem, controlling about 66% of Biorem's 39 million shares.
Also of note, on June 5 Biorem announced current order backlogs. They've had 2017 bookings to date of $12.5 million compared to $7.6 million at the same time last year; and have a current backlog of $24 million, 40% greater than last year.
The stock is currently at 0.50, after hitting 0.59 earlier in the day.
Have a good afternoon!
Posted: Thursday Nov 5 9:51:05AM 2015
Biorem posted Q3 results today. .01eps FD vs .02eps FD in Q2. They maintained high gross margins from Q2 but there was a one time chargeoff of a questionable a/r that reduced net profits 200K to $318K vs 718K in Q2. Gross sales were down about $500K from Q2 so that was the rest of the difference.
Good news is that backlog grew to 17.6 million during the qtr and that bodes well for medium term results.
Going forward, if they continue to average .02eps/qtr, Biorem looks cheap at C$.375. I bought a tiny position today at .39. Will try to nibble and add some more down the road.
Posted: Thursday Oct 8 7:44:28PM 2015
Posted: Thursday Oct 8 7:42:10PM 2015
Posted: Wednesday Sep 23 5:12:52PM 2015