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IPD.V - International Parkside Products



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By mrduediligence

Posted: Monday Dec 19 4:53:20PM 2016

IPD Q1 Results (Ending October 31, 2016)

Price: $0.09
Common Shares:  15,617,670
Insider Holdings: 10,368,992 (66.4% as per SEDI.CA – Recent insider buying from CEO)
Company website: www.internationalparksideproductsinc.com

Notes:
- IPD $0.01c dividend to be paid out to any shareholders as of January  13th 2017, paid January 24th
- IPD loss in 2015 was due to a deferred tax payment, otherwise the company made a profit
- Sales revenue doubled in Q1 2017 in a year over year comparison

ASSETS
Cash: $455,326
Accounts Receivable: $827,680
Inventory: $175,784
Prepaid Expenses: $21,090
Short-Term Investments: $46,542
Equipment: $595,074
Licensing Rights: $109,702
Total Assets: $2,231,198

LIABILITIES
Accounts Payable: $695,714
Customer Deposits: $92,252
Income Tax: $10,000
Deferred Income Tax: $109,000
Total Liabilities: $906,966

Q1 Sales Revenue: $1,775,126 (2015 - $926,373)
Gross Profit: $809,412 (2015 - $438,426)
Net Income: $117,106 (2015 – Loss of $45,906)

Due to the MD&A being formatted without allowing for the ability to copy/paste, I cannot post a summary below. To see the MD&A, please visit www.sedar.com

 


By mrduediligence

Posted: Friday Dec 9 9:18:37AM 2016

Int'l Parkside to pay one-cent dividend Jan. 24 2016-12-06 14:06 MT - News Release Mr. Murray Keating reports DIVIDEND DECLARED International Parkside Products Inc. will pay a one-time dividend of one cent per common share, payable in cash, in respect of the year ended July 31, 2016. The dividend will be paid on Jan. 24, 2017, to shareholders of record on Jan. 13, 2017. The dividends declared have been declared as eligible dividends for Canadian income tax purposes pursuant to Subsection 89 (14), as defined under Subsection 89 (1), of the Income Tax Act (Canada). © 2016 Canjex Publishing Ltd. All rights reserved.

By mrduediligence

Posted: Tuesday Mar 22 12:00:40PM 2016

IPD.V Q2 Results (Ending January 31st 2016)

Main Note: Another positive quarter and this does not include the Carbon Klean/Best Buy deal which is scheduled to start in April 2016. 

Price: $0.10
Common Shares: 15,617,670
Insider Holdings: 10,151,992 (65% as per SEDI)
New Website: http://www.internationalparksideproductsinc.com/

Financials

ASSETS
Cash: $260,830
Accounts Receivable: $417,013
Inventory: $214,990
Prepaid Expenses: $63,224
Short-Term Investments: $155,407
Equipment: $659,837
Licensing Rights: $120,452
Total Assets: $1,891,753

LIABILITIES
Accounts Payable: $366,996
Customer Deposits: $9,167
Total Liabilities: $376,163

Asset/Debt Ratio: 5:1 – This is a very strong indicator

Q2 Sales 
Revenue: $1,442,431
Net Income: $123,129

6 Month Sales
Revenue: $2,368,804
Net Income: $165,126 - $0.011c earnings per share

2014 Total Sales
Revenue: $4,214,046
Net Income: $319,127 - $0.023c earnings per share

MD&A Highlights

Since the first shipment of LensPen in August 1993, the Company has expanded sales of these products to over 80 distributors in over 85 countries, and is continuously seeking to add new distributors and items to its range of cleaning devices.

During the period, the Company attended CTIA 2015 in Las Vegas in support of its mobile device accessories. Vision West 2015 (Las Vegas), Silmo (Paris) and the Hong Kong Optical show were all attended in support of its eyewear lens cleaning accessories, adding new customers in the United States and Europe.

 

The Company also began sales to a new distributor to the Italian photo market, Rinowa s.r.l. The Company began to see sales of the eyewear lens cleaning product PEEPS increase and is now pursuing a selling agreement for this item.

 In addition to the above, the Company has paid off all loans outstanding; consequently, the Company is completely debt-free except for current trade payables. The Company is self-financed through its generation of positive cash flows.

The Company is not exposed to a significant amount of liquidity risk. As at the six month period ended January 31, 2016, the Company had positive working capital of $735,301 (January 31, 2015 - $784,073). The accounts payable and accrued liabilities balance is expected to be covered through the collection of accounts receivable balances and from current cash balances. The Company is not reliant on external financing.

Most recent news release:

Int'l Parkside, Patton to form JV company Carbon Klean

2016-01-06 14:34 MT - News Release

Mr. Murray Keating reports

MEMO OF AGREEMENT

International Parkside Products Inc. has entered into a memorandum of agreement with Daniel J. Patton LLC of Columbus, Ohio, for the global marketing of its new eyeglass-cleaning device PEEPS and its line of laptop and smart phone screen-cleaning devices.

The agreement calls for the creation of a new joint venture company named Carbon Klean LLC, which will have the global rights to the above-mentioned products. International Parkside will contribute the products and their trademarks and non-formulation patents while Patton will contribute its worldwide network of contacts in the eyewear and IT markets, as well as provide warehousing and distribution capacity.

International Parkside will own 60 per cent of the JV initially and will be the sole manufacturer of the products to the JV. Patton will have 40 per cent but will have the ability to reach 50 per cent by achieving sales of one million units (approximately $4-million) over the initial two years of the deal.

International Parkside will provide initial marketing funds of up to $100,000 (U.S.) by way of a two-year 6-per-cent loan to the JV.

President of International Parkside's eyewear division, Peter Meurrens, stated, "This arrangement will give us the reach in the eyewear and IT markets that might have been impossible for us to achieve on our own."

© 2016 Canjex Publishing Ltd. All rights reserved.


By mrduediligence

Posted: Thursday Mar 10 7:53:55AM 2016

New IPD website has finally been release: http://www.internationalparksideproductsinc.com/

At the bottom of the page you'll find the recent news, MD&A, financials, and technical info.

Q2 results will be out in a few weeks and I believe we will be seeing another profitable quarter. Below is a recap of the Q1 and 2014 results:

Symbol: IPD
Common Shares: 15,617,670
Insider Holdings: 10,141,992 (65% as per SEDI)

Assets
Cash: $215,960
Accounts Receivable: $184,898
Inventory: $210,488
Prepaid Expenses: $84,678
Short-Term Investments: $225,481
Equipment: $630,248
Licensing Rights: $114,276
Total Assets: $1,666,029

Liabilities
Accounts Payable: $196,527
Customer Deposits: $47,917
Total Liabilities: $244,444

Q1 2015
Sales: $926,373
Net Income: $41,997  or $0.0027c eps

Recap of 2014 Year End Results
Sales: $4,214,046
Net Income: $319,127 or $0.02c EPS.

Over 5 quarters:
Sales: $5,140,419
Net Income: $ $361,124 or $0.023c EPS


By mrduediligence

Posted: Friday Jan 15 7:56:10AM 2016

IPD made it official on their social media channels today about the deal with Target through their JV partner Carbon Klean. Pretty good deal I think. $100,000 JV loan could increase our sales by millions now and International Parkside Products is already making profits every quarter and increase it's cash position. The odds of a dividend this year look much more likely and possibly could exceed the original $0.01c divy they paid back in 2012 and 2013.

https://www.facebook.com/lenspengroup

Amazing news from our USA joint venture company, CarbonKlean: the SmartPak that we make for them for cleaning smartphone camera lenses and screens will be available this April in all 1,700 Target stores in the USA! See below and please feel free to give a Like to the CarbonKlean page as well!

JV Partner's website: http://carbonklean.com/


By mrduediligence

Posted: Wednesday Jan 6 2:55:55PM 2016

Int'l Parkside, Patton to form JV company Carbon Klean

2016-01-06 14:34 MT - News Release

Mr. Murray Keating reports

MEMO OF AGREEMENT

International Parkside Products Inc. has entered into a memorandum of agreement with Daniel J. Patton LLC of Columbus, Ohio, for the global marketing of its new eyeglass-cleaning device PEEPS and its line of laptop and smart phone screen-cleaning devices.

The agreement calls for the creation of a new joint venture company named Carbon Klean LLC, which will have the global rights to the above-mentioned products. International Parkside will contribute the products and their trademarks and non-formulation patents while Patton will contribute its worldwide network of contacts in the eyewear and IT markets, as well as provide warehousing and distribution capacity.

International Parkside will own 60 per cent of the JV initially and will be the sole manufacturer of the products to the JV. Patton will have 40 per cent but will have the ability to reach 50 per cent by achieving sales of one million units (approximately $4-million) over the initial two years of the deal.

International Parkside will provide initial marketing funds of up to $100,000 (U.S.) by way of a two-year 6-per-cent loan to the JV.

President of International Parkside's eyewear division, Peter Meurrens, stated, "This arrangement will give us the reach in the eyewear and IT markets that might have been impossible for us to achieve on our own.

© 2016 Canjex Publishing Ltd. All rights reserved.


By mrduediligence

Posted: Thursday Dec 17 9:04:24AM 2015

IPD.V Q1 Results (Ending October 31st 2015)

My Notes:
- Another Profitable Quarter
- Major deal signed with Rinowa s.r.l who is a major distributor in the Italian market
- All IPD products sold in US dollars, this will add additional revenue in conversion to CAD

Symbol: IPD
Price: $0.08c
Common Shares: 15,617,670
Insider Holdings: 10,141,992 (65% as per SEDI)
Website: www.lenspen.com

Assets
Cash: $215,960
Accounts Receivable: $184,898
Inventory: $210,488
Prepaid Expenses: $84,678
Short-Term Investments: $225,481
Equipment: $630,248
Licensing Rights: $114,276
Total Assets: $1,666,029

Liabilities
Accounts Payable: $196,527
Customer Deposits: $47,917
Total Liabilities: $244,444

Q1 2015
Sales: $926,373
Net Income: $41,997  or $0.0027c eps
**Cost of trade shows was up substantially, next quarter will be better**

Recap of 2014 Year End Results
Sales: $4,214,046
Net Income: $319,127 or $0.02c EPS.

Over 5 quarters:
Sales: $5,140,419
Net Income: $ $361,124 or $0.023c EPS

Stock is trading at less than 4 times earnings which is very low

I was hoping for a dividend this year, but perhaps something more important is on the horizon and it will require additional funds from the company to carry forward. I believe this because IPD has been pushing harder to market its products, especially the recently added Peeps to the world. At this point it’s better if sales had the potential of growing 50% or more with additional marketing funds, I would prefer that over a dividend anyway.

Management Discussion Highlights

During the period, the Company attended CTIA 2015 in Las Vegas in support of its mobile device accessories and Vision West 2015 (Las Vegas) and Silmo (Paris) in support of its eyewear lens cleaning accessories, adding new customers in the United States and Europe. The Company also began sales to a new distributor to the Italian photo market, Rinowa s.r.l

The Company began to see sales of the eyewear lens cleaning product PEEPS increase and is now pursuing a selling agreement for this item.

In addition to the above, the Company has paid off all loans outstanding; consequently, the Company is completely debt-free except for current trade payables.

Main expense that increased this quarter:
Trade shows of $68,528 (2014 - $39,208) The Company continues to attend various International trade shows and in this period attended the Vision West Expo in Las Vegas, Silmo in Paris and CTIA in Las Vegas. These shows are a valuable tool to find new distributors and assist existing distributors.

The Company is not exposed to a significant amount of liquidity risk. As at the three month period ended October 31, 2015, the Company had positive working capital of $677,061 (October 31, 2014 - $617,948). The accounts payable and accrued liabilities balance is expected to be covered through the collection of accounts receivable balances and from current cash balances. The Company is not reliant on external financing.


By mrduediligence

Posted: Thursday Nov 26 6:00:45PM 2015

IPD.V Year End Results(Ending July 31 2015)

My Notes:

- Very strong year for earnings and growth

- Good chance of a dividend being reinstated. Between 2012-2013 it was $0.01ceps for the year.

- Q1 2016 results will be out in December, only a few weeks from now

Symbol: IPD
Price: $0.065
Common Shares: 15,617,670
Insider Holdings: 10,141,992(65% as per SEDI)
Subsidiary website: http://www.lenspen.com/
Company website: www.ipd.ca (currently be updated)

ASSETS
Cash: $185,100
Accounts Receivable: $273,704
Inventory: $207,648
Prepaid Expenses: $38,373
Investments: $261,063
Equipment: $644,766
License Rights: $166,150
Total Assets: $1,726,804 (July 31 2014 was $1,537,338)

LIABILITIES
Accounts Payable: $259,313(July 31 2014 was $391,039)

Sales Revenue: $4,214,046
Gross Profit: $1,809,704
Expenses: $1,496,254
Net Income: $321,192

Earnings per share: $321,192 / 15,617,670 = $0.02056 or $0.021c EPS.

An established profitable junior should be trading at minimum 10 times earnings per share. Adding a dividend would increase the value substantially.

MD&A Highlights

Description of business
The Company, through its wholly owned subsidiaries, Parkside Optical Inc. (“Parkside Optical”) and EIC Energy Interface Inc. (“EIC”), is in the business of producing and marketing innovative optical, screen cleaning and eyeglass cleaning products using the Company’s patented carbon black technology and the new light carbon formula for international distribution. Parkside Optical manufactures and distributes to wholesale distributors the following optical lens cleaning devices: LensPen, PEEPS, DigiKlear, Mini-Pro, Mini-Pro II, MicroPro, Smartphone camera cleaner, Laptop Pro, ScreenKlean, FilterKlear, DSLR Pro Kit, SensorKlear, SensorKlear Loupe Kit, SmartKlear, HunterPro Kits, Outdoor Pro Kits, FogKlear, Photo Pro Kits, Hurricane blower and Microfiber cloth. Since the first shipment of LensPen in August 1993, the Company has expanded sales of these products to over 80 distributors in over 85 countries, and is continuously seeking to add new distributors and items to its range of cleaning devices.

Performance summary
The Company experienced a decrease in revenue - $4,214,046 during the year ($4,491,769 for 2014). This translates into a revenue decrease of $277,723. The Company sells its products globally in U.S. dollars but reports in Canadian dollars, causing distortions in period to period comparisons.

During the year Asian customers were hit by a decline in the SLR camera market, as were customers in Russia and Ukraine. Additionally, disruptions due to war, economic problems and currency decline against the USD have negatively impacted Russian and Ukrainian customers’ ability to purchase the Company’s products and sell them through in their retail markets. Revenues from Russia have decreased by 85% since fiscal 2013 and revenues from the Ukraine are down 80%. Markets in Japan, Germany and the UK however are up between 10 and 25% and Management remains optimistic in these areas. The Company’s Board of Directors responded to the negative events in the important Russia and Ukraine markets by directing management to begin cost cutting measures. The Company’s financial statements are a testament to the success of those measures instituted by management.

Parkside attended the Vision West Expo in Las Vegas, Vision East Expo in New York, Photokina in Germany, the SHOT Show and CES in Las Vegas, MIDO Optical Fair in Milan, Italy, the Photography Show in the UK and the FVF show in Lodz, Poland. These shows are a valuable tool to find new distributors and assist existing distributors.

Following the trade shows, new distribution was added in the USA, Norway, Spain, Portugal, Andorra, Serbia, Poland, the Czech Republic, Slovakia and India. Other major prospects are still in development and the Company has an extremely bullish outlook for its new eyeglasses and sunglasses lens cleaner PEEPS.

In the second quarter, Essilor began a private label program with the Company’s PEEPS product. Essilor is one of the largest manufacturers of corrective lenses in the world and is the single largest manufacturer of ophthalmic lenses.

In addition to the above, the Company has paid off all loans outstanding; consequently, the Company is completely debt-free except for current trade payables.


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