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PGV.V - Prodigy Ventures Inc.

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By mrduediligence

Posted: Thursday Jan 7 10:57:57AM 2016

Prodigy Ventures Inc Report

This is a recently restructured company. Previously (71 Capital Corp, symbol SVN.V)

Symbol: PGV.V
Price: $0.14
Common Shares: 25,688,232
Insider Holdings: 90% as per Sedi. One insider alone owns 86.8%

Most recent financials Q2(Ending September 30th)

Cash: $772,353
Accounts Receivable: $1,363,396
Unbilled Receivables: $86,671
Prepaid Expenses: $11,019
Property: $20,309
Total Assets: 2,253,748

Accounts Payable: $953,851
Deferred Revenue: $122,723
Provision for income tax: $81,559
Current Portion of long-term debt: $83,432
Advanced from shareholder: $2,872
Long-term debt: $230,008
Total Liabilities: $1,474,445

Three Month Sales Q2
2015 Revenue: $2,335,971 (2014 $579,703)
2015 Gross Profit: $931,118 (2014 $99,310)
2015 Net Income: 204,153 (2014 $28,740)

Six Month Sales Q2
2015 Revenue: $3,611,424 (2014 $968,009)
2015 Gross Profit: $1,242,659 (2014 $119,942)
2015 Net Income: $293,148 (2014 $47,228)

Earnings per share after two quarters is $0.011c

MD&A Highlights from Q2

Prodigy is comprised of two main business units: Prodigy Labs and a “venture builder” business. Prodigy Labs is Prodigy's technology services business, a trusted technology supplier to leading Canadian financial institutions, providing clients with consulting services for strategy, design, project management, application development, staff augmentation and services related to Prodigy's business platforms. It provides these technology services to the aforementioned clients. Prodigy Labs' technology consulting services currently represent 100% of Prodigy's revenue.

Prodigy is also a “venture builder”. This unit (“Prodigy Ventures”) is creating new business platforms and applications in many of the highest growth technology segments: mobile video, wearables, proximity marketing, mobile payments, augmented reality, 3D and social. Prodigy Venture's business platforms and applications are 4 or will be designed to deliver B2B, B2C, P2P (Peer to Peer) and IoT (Internet of Things) capabilities. Prodigy’s research and development expenses are related solely to the venture builder business.

Vision and Strategy Prodigy's vision and strategy consists of two tracks. The first track is to aggressively expand its services business, Prodigy Labs, into new market segments, new technologies, and a broader geographic reach. The second track is to create growth as a venture builder by building and marketing its innovative new business platforms and applications. Management of Prodigy believes that there are a number of primary strategic benefits to operating a services business and venture builder business within one company. 1. Growth multiplier;
2. Top talent attraction and retention;
3. Shared management resources;
 4. Shared infrastructure, administration, marketing and sales;
5. Streamlined access to capital for all ventures; and
 6. Portfolio approach to new ventures.

To read more, I suggest either going through Prodigy Ventures MD&A on Sedar, because it is too long to post on here. Or else visit their website to get additional product information.

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