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SNF.V - Sunora Foods Inc.



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By mrduediligence

Posted: Saturday Nov 4 9:37:13AM 2017

General Report -> https://simplywall.st/news/2017/11/04/who-are-sunora-foods-incs-tsxvsnf-major-shareholders/

More Detailed Report -> https://simplywall.st/TSXV:SNF/sunora-foods?unique_symbol=TSXV:SNF&l=1&t=bjarefuvc&s=1&id=174316&utm_source=post&utm_medium=finance_user&lt=Conc_ticker&utm_campaign=Conc_ticker
(Requires Free Membership)


By mrduediligence

Posted: Wednesday Nov 1 8:28:29AM 2017

Here's the breakdown of sales based on the numbers yesterday. I emailed the company about why international sales are down year over year and they said some orders from Q3 will be in Q4 and the Sunflower oil sales should also help increase revenue overall. Otherwise US and Canadian sales did go up. Less than a month to go before actual numbers are out on SEDAR.


SNF 2017 Comparison For Sales Per Area
(Information From SEDAR)


International/China
Q1 2016 - $284,251
Q1 2017 - $526,157


Q2 2016 - $574,619
Q2 2017 - $567,204


Q3 2016 - $850,414
Q3 2017 - $750,478


USA
Q1 2016 - $2,167,415
Q1 2017 - $2,701,689


Q2 2016 - $2,054,390
Q2 2017 - $2,410,793


Q3 2016 - $2,257,456
Q3 2017 - $2,309,240


Canada
Q1 2016 - $235,713
Q1 2017 - $252,384


Q2 2016 - $206,764
Q2 2017 - $186,691


Q3 2016 - $173,286
Q3 2017 - $311,619


By mrduediligence

Posted: Tuesday Oct 31 8:27:24AM 2017

October 31, 2017 – CALGARY, ALBERTA. Sunora Foods Inc. (the “Corporation”) (TSX-V: SNF) is
pleased to announce unaudited, preliminary sales figures for the nine months and third quarter ending September 30, 2017.


Nine Months Sales 2017: $10,016,255
Nine Months Sales 2016: $8,796,501
Third Quarter Sales 2017: $3,370,406
Third Quarter Sales 2016: $3,278,801


Nine Months 2017 Sales Breakdown
Canada $750,694
United States $7,421,722
Overseas $1,843,839


Initiation of Sunflower Oil Sales to China


In the fourth quarter, Sunora will begin shipping containers of sunflower oil to China, to fulfill orders received in the third quarter. The shipping of sunflower oil is a new product line in China for Sunora, and provides a new sales channel for future international customers. Sunora continues to evaluate new product lines for distribution in Canada and international locations through its portfolio of global agents.


About Sunora Foods


Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the “Sunora”, “Sunera” and numerous private label brands.


For further information, please contact:


Dean Stuart
Investor Relations
T: (403) 617-7609
E: dean@boardmarker.net


Steve Bank
Chief Executive Officer and President
T: (403) 247-8300
E: steve.bank@sunora.com


By mrduediligence

Posted: Monday Oct 2 4:27:22PM 2017


http://www.producer.com/2017/09/ag-note-sept-28-2017/

AG Note: Sept. 28, 2017

Posted Sep. 28th, 2017

Alberta showcased 
at Taste of Canada


Six Alberta companies participated in the recent Taste of Canada held in Boston, Massachusetts: Left Field Foods, Canyon Creek Soup, Gabriella’s Kitchen, Oh! Naturals Flavoured Snacks, Stellas and Sunora Foods Ltd.

The event attracted a record 56 Canadian food and beverage exporters from eight Canadian provinces.

With an eye for distinctive Canadian flair, the companies promoted their products in various grocery categories such as bakery and deserts, dips, spreads and seasonings, edible oils, entrees and ready meals, non-alcoholic beverages, specialty foods and snacks.


Thirty-four American buyers from several states met with the companies in a series of one-on-one meetings to sample products and discuss potential business opportunities.

For more information about the event, contact Shelly Nguyen at 780-422-7103 or Dusan Rnjak at 780-638-3851.

$4.4 million 
for ag innovation
The Canadian government recently announced $4.4 million in funding for projects it says will help expand markets and ensure farmers stay innovative.

Of that, $2.2 million will go to projects that support the cattle industry in Alberta and across Canada.

The cattle projects include:

$839,485 for the Canadian Cattlemen’s Association to explore the use of remote sensing as a tool for forage crop insurance
$901,240 to help the Alberta Beef Producers develop satellite data to improve forage insurance
$225,000 to help the Canadian Angus Association develop tools to enhance breeding cattle
$205,500 for the National Cattle Feeders Association to develop and implement a national feedlot animal care assessment 
program
The remaining funds, which make up slightly more than $2.2 million, will support projects the government says will support innovation, market development, emergency planning, competitive pricing, animal-care assessment and farm software development.

Vet receives bovine 
welfare award
Dr. Joyce Van Donkersgoed of Coaldale, Alta., was recently named recipient of the 2017 Metacam 20 Bovine Welfare Award for her leadership in the Canadian beef industry to improve the welfare of feedlot animals.

The award is presented annually by the Canadian Association of Bovine Veterinarians in partnership with Boehringer Ingelheim (Canada) Ltd.

Van Donkersgoed operates a private feedlot practice in southern Alberta, where she provides emergency, herd health and production services, as well as research and regulatory services to her clients.

She is currently leading the development of a certified feedlot animal auditor program and is a trainer for feedlot auditors.

She emphasizes continued education and provides regular training on a range of topics including how to conduct animal welfare assessments.


By mrduediligence

Posted: Monday Sep 4 9:10:35AM 2017

Robin Speziale, author of Market Masters, which is one of the top selling books on Amazon and other websites is recommending Sunora Foods. Check out his video and you can even see a link to his book which has a strong recommendation on it through Amazon and other websites. So this isn't just a random individual, it's someone that knows the markets and chose SNF, along with 15 other companies out of all the micro caps on the venture and TSX. 

Youtube Video: https://www.youtube.com/watch?v=M1E8_g75QMQ

Amazon: https://www.amazon.ca/dp/177041343X/ref=cm_sw_r_cp_ep_dp_faX0ybZ5SE43R

Chapters: https://www.chapters.indigo.ca/en-ca/books/market-masters-interviews-with-canadas/97817

70413436-item.html

Good Reads Reviews: https://www.goodreads.com/book/show/27409903-market-masters

His 16 Picks:

Namsys Inc
Vigil Health Solutions
Pioneering Technology Corp
Vitreous Glass Inc
AirIQ Inc
DMD Digital Health Connections Group Inc
Redishred Capital Corp
Sunora Foods Inc
Bevo Agro Inc
Imaflex Inc
Diamond Estates Wines & Spirits Inc
CVR Medical Corp
Intrinsync Technologies
Greenspace Brands
Ten Peaks Coffee
Ceapro


By mrduediligence

Posted: Wednesday Aug 30 8:15:48AM 2017

Sunora Foods Q2 Results(Ending June 30th2017) 
All Information Below Can Be Found At www.sedar.com


Price: $0.175
Common Shares: 42,254,332
Retail Shares Available: 12,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%
Website: www.sunora.com


Balance Sheet For Q2


ASSETS
Cash: $3,356,010
Accounts Receivable: $1,090,006
Accrued Interest: $2,527
Inventory: $343,899
Prepaid Expenses: $9,647
Goods Tax Recoverable: $22,259
Income Tax Recoverable: $125,727
Deferred Tax Asset: $159,545
Total Assets: $5,119,620

LIABILITIES
Accounts Payable: $1,181,778
Customer Deposits: $68,743
Total Liabilities: $1,250,521


Q2 Sales
Revenue: $3,164,688
Gross Margin: $253,684
Income From Operations: $82,525
Claim Settlement: -$434,684 – One time expense
Income Tax Recovery: $108,984
Net Loss For Quarter: -$243,175


Year – Sales – Profit/(Loss) – Additional Information
2017(Q1/Q2) - $6,644,917 – ($176,616) – Increased sales Y/O/Y, loss from settlement
2016 - $12,254,101 - $282,794 - Currency loss of $34,000 or else net income was stable
2015 - $10,815,959 - $502,182 - Net income of $200,000 affected by currency exchange
2014 - $13,235,038 - $189,073 - Added listing expenses incurred from merger with capital pool


MD&A Highlights


The legal settlement arises from a statement of claim filed against the Corporation in 2015 by one of its vendors, who alleged that Sunora wilfully did not accept deliveries of soybean oil pursuant to a contractual arrangement. The vendor claimed USD $506,798 in damages relating to losses allegedly suffered. Sunora denied responsibility for such a claim. However, on the recommendation of legal counsel, management settled the claim for CDN $390,000 to be paid by August 31, 2017. The claim settlement comprises a full provision for the claim including already incurred and expected legal fees.


Earnings (loss) per share - basic and diluted for the six months ended June 30, 2017 were $(0.0004) from $0.002 for the same period last year as a direct result of the claim settlement. Without the claim, earnings per share – basic and diluted for the six months to June 30, 2017 would have been significantly better than the same period of the prior year.


Sunora had 20% higher sales for the six-month period ended June 30, 2017 than the comparative sixmonth period. Sales were positively impacted by stronger results in the United States and continued positive momentum overseas.


The loss and comprehensive loss for the six months ended June 30, 2017 was primarily the result of the settlement of a trading dispute. The income from operations before the claim was $163,369 compared to $104,024 for the same period of 2016. Although sales were 20% higher, gross margin declined from 8.1% to 7.3% in this six-month period. Gross margin percentage declined because of a higher proportion of bulk oil sales.


Outlook


Sunora maintains good relationships with customers in North America and overseas. 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 the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations are impacted by geopolitical situations that may hold up deliveries as was experienced in recent quarters. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.


Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations.


Management is also actively considering possible new products that may benefit from its contacts in domestic and international markets. With the continuing positive momentum in the United States economy and new customers being added in Asia, Sunora is well placed for the future.


By mrduediligence

Posted: Tuesday Aug 29 8:15:54AM 2017

Sunora Foods earns $82,525 in Q2 2017

2017-08-29 08:06 MT - News Release

Mr. Dean Stuart reports

SUNORA FOODS ANNOUNCES SECOND QUARTER FINANCIAL RESULTS

Sunora Foods Inc. has filed its financial statements and management discussion and analysis for the second quarter ending June 30, 2017. These filings are available for review on SEDAR and the corporation's website.

During the second quarter ended June 30, 2017, Sunora's highlights include the following:

-Revenue of $3,164,688 for Q2 2017 versus revenue of $2,835,773 for the comparable Q2 2016, an increase of 11.6 per cent;
-International sales of $567,204 for in Q2 2017 versus international sales of $574,619 for the comparable Q2 2016;
-Net income from operations for the three-month period ending June 30, 2017, of $82,525;
-Trade dispute settled for $434,684, including estimated legal costs;
-Net comprehensive income after settlement of trade dispute of negative $243,175 for the Q2 2017 period;
-Cash and cash equivalents of $3,356,010 and working capital of $3,709,554 at the end of Q2 2017.

FINANCIAL HIGHLIGHTS

Second quarter
ending June 30, 2017

Sales $3,164,688
Gross margin $253,684
Net income from operation $82,525
Net comprehensive income ($243,175)
Earnings per share ($0.006)


About Sunora Foods Inc.

Sunora Foods is a food oil entity based in Calgary, Alta., trading and supplying canola oil, corn oil, soybean oil, olive oil and specialty oils in Canada and internationally under the Sunora, Sunera and numerous private label brands.

© 2017 Canjex Publishing Ltd. All rights reserved.


By mrduediligence

Posted: Sunday Aug 20 9:25:16PM 2017

 

Less than 10 business days left to go before SNF’s Q2 results are out. In the meantime, I found a website that just started following Sunora Foods, see below:

 

https://robinrspeziale.com/2017/08/18/my-microcap-portfolio-experiment-investing-in-16-canadian-micro-cap-stocks/

 

MY MICROCAP PORTFOLIO EXPERIMENT – INVESTING IN 16 CANADIAN MICRO-CAP STOCKS
Investing

I’ve decided to experiment in the Canadian Micro-cap space. Micro-caps are those companies on the TSX and TSX Venture Exchange that trade below $100 million market capitalizations. Out of hundreds of companies, I selected only 16 stocks (see below – do you own any of these stocks too?). I looked for micro companies that can possibly turn into multi-baggers on the foundation of their unique product/service, large addressable market, long runway to grow, exceptional management,  high/steady gross margins, high revenue growth, and in most cases – profitable, cash flow positive, high return on equity (ROE), and return on capital (ROIC) operations.

Check out my MicroCap Portfolio (est. Aug 2017) below – 16 micro cap stocks. I’ll provide updates in the future – hopefully it all works out. I’m well aware that some micro-caps might fail, while others will be average performers, but it’s the 2-3 that possibly turn into multi-baggers that I’m really excited about. Overtime, I’ll invest more capital into the winners, and trim or eliminate the losers, if any decline more than 50%. We’ll see – time will tell. (note – I previously owned 4 micro-cap stocks below – Intrinsync Technologies, Greenspace Brands, Ten Peaks Coffee, and Ceapro, but have now segmented them into my new MicroCap Portoflio).

My Canadian MicroCap Portfolio (est. Aug 2017)

Namsys Inc
Vigil Health Solutions
Pioneering Technology Corp
Vitreous Glass Inc
AirIQ Inc
DMD Digital Health Connections Group Inc
Redishred Capital Corp
Sunora Foods Inc
Bevo Agro Inc
Imaflex Inc
Diamond Estates Wines & Spirits Inc
CVR Medical Corp
Intrinsync Technologies
Greenspace Brands
Ten Peaks Coffee
Ceapro
 


By mrduediligence

Posted: Thursday Aug 10 6:59:20AM 2017

2 to 3 weeks to go until financial results are out for Sunora Foods. Until then I wanted to post a very interesting article on how Canola oil can help clean up tons of mercury tainted tails and waste water around the world:


http://www.mining.com/cooking-oil-help-clean-mercury-mining-sites-researchers-say/


Cooking oil could help clean up mercury at mining sites, researchers say


Researchers at Flinders University in Australia published a study where they demonstrate how a canola oil polymer, when combined with sulphur, can trap mercury metal, mercury vapour and highly toxic organo-mercury compounds.


Mercury and mercury-containing materials are commonly used in small-scale mining operations to extract gold from ore. However, the liquid element is also employed by many chloralkali plants and in certain farms as fungicide.


By combining second-hand cooking oil and sulphur – a common, low-cost byproduct from petroleum production –, the scientists were able to produce a new kind of rubber-like polymer capable of absorbing mercury pollution in soil, water and even the air. The novel substance even changes colour to indicate it has done its job.


“Because our mercury-capturing material is made from waste, our goal is to provide a cost-effective and technically simple material for cleaning up mercury pollution at gold mines,” said lead-researcher Justin M. Chalker in a press release.


Artisanal mining is the largest producer of mercury emissions worldwide and, according to the United Nations Environment Programme, mercury rich tailings and exposure to mercury vapour threaten the health of nearly 15 million people involved in this field of work.


“This pernicious problem,” Chalker said, “is causing brain damage and loss of IQ points in unborn children.”


The scientist's mercury-binding polymer is already licensed for sale to Kerafast, a US-based reagent company. Meanwhile, the Flinders University team that created it is raising funds to develop a pilot reactor and production plant in South Australia.


By mrduediligence

Posted: Thursday Jul 6 9:01:13AM 2017

Sunora Foods estimates Q2 2017 sales of $3.26-million
2017-07-06 09:46 MT - News Release

 

Mr. Dean Stuart report

SUNORA FOODS SECOND QUARTER SALES UPDATE AND ANNUAL GENERAL MEETING RESULTS

Sunora Foods Inc. has released unaudited, preliminary sales figures for the second quarter and six months ending June 30, 2017.

 

Second Quarter Sales 2017: $3,264,801

Second Quarter Sales 2016: $2,833,043

Six Months Sales 2017: $6,745,567

Six Months Sales 2016: $5,517,699

Six Months 2017 Sales Breakdown

Canada $479,648

United States $5,081,684

Overseas $1,184,234

The Corporation is also pleased to announce results from the Annual General and Special Meeting held on July 5, 2017.

 

Yes (%) No (%) Abstain (%)
Set number of directors at four 92.28 7.722 0.00
Steve Bank 99.92 0.00 0.08
James Lawson 91.25 0.00 8.75
Alan Chan 91.25 0.00 8.75
Eric Dahlberg 91.25 0.00 8.75
Appointment of Auditors 100.00 0.00 0.00
New Stock Option Plan 99.98 0.00 0.00
 

About Sunora Foods

Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands.

 

Copyright (c) 2017 TheNewswire - All rights reserved.


© 2017 Canjex Publishing Ltd. All rights reserved.


By mrduediligence

Posted: Monday Jun 5 7:35:39PM 2017

http://business.financialpost.com/news/agriculture/canola-revolution-how-an-experiment-turned-canadian-farmers-into-cooking-oil-kings

 

Canola revolution: How an experiment turned Canadian farmers into cooking oil kings

 

In the heart of Canada’s bread basket, a Richardson International Ltd. processing plant stands as a testament to what may be the country’s most successful agricultural experiment.

 

Farmers across the Prairie Provinces are planting a record acres of canola, a crop that didn’t exist about four decades ago but now is the nation’s biggest, sown on more land than spring wheat. Richardson was the first company to market canola oil. It has since expanded capacity at factories like the one in Lethbridge, Alberta, as global demand exploded and Canada became the top exporter of an oilseed used in everything from salad dressing to french fries.

 

Richardson’s facility now spans six square blocks — a warren of crushing machines, conveyor belts, railroad links and grain silos devoted entirely to canola. After a C$120 million upgrade to expand capacity by 55 percent, it will be able to process 700,000 metric tons annually, boosting exports of oil and related products including margarine and buttery popcorn topping.

 

“It’s almost a constant turnover” of jugs, barrels and bottles of oil shipped to grocers, fast-food restaurants, hospitals and bakers every day of the work week, said Steve Scott, the plant’s maintenance manager. Pointing to a tanker car capable of hauling 80 tons, he said, “a big potato-chip plant will be taking a couple of these a week.”

 

Canadian scientists invented canola in 1974 by breeding out undesirable traits from the rapeseed plant, though it didn’t get the name “canola” until 1978.

 

The seed has more than twice as much oil as a soybean, and canola oil has become popular in cooking and deep frying. It’s rich in heart-healthy fatty acids found in salmon and tuna that lower bad cholesterol and help control blood sugar, with no artery-clogging trans fats. Canola oil has about 7 percent saturated fat, about half as much as olive oil and a fraction of what’s in palm oil, according to the Canola Council of Canada.

 

“The healthy oil profile that canola enjoys is going to keep it popular,” said David Reimann, a market analyst in Winnipeg, Manitoba, for Cargill Ltd., the world’s largest agricultural company. “It’s a huge, huge market and can certainly tolerate a lot more acreage and production.”

 

Farmers are doing just that. While planting is a little behind schedule because of wet weather, Canadian growers eventually will sow 22 million acres of canola this year, the most ever, government data show. The planting season will end in a few weeks.

 

Production of canola probably will reach a record 18.75 million tons, more than half of which will be exported to big buyers like the U.S., China and Mexico, the government’s Agriculture and Agri-Food Canada said in a May 24 report. Demand also is growing, with global imports of rapeseed set to jump 5.2 percent to a record 16.18 million tons, the U.S. Department of Agriculture estimates, with Canada accounting for about 68 percent of total shipments.

 

Canola prices have held up better than competing oilseeds as supplies increased. Canola now fetches a premium to soybeans, and it has outperformed palm oil, which is down almost 20 percent in the past year.

 

Still, farmers have plenty of incentive to supply more as domestic demand grows, with Canadian processors poised to crush a record 9 million tons in the 12-month season through July, and a similar amount in the next year, according to the the nation’s agriculture ministry.

 

The global market for rapeseed, which includes canola, reached C$8.9 billion last year, a 61 percent increase from 2011, and is forecast to grow another 51 percent from 2016 to 2021, the most of any edible oil, including olive oil and sunflower oil, according to data from Euromonitor International. Since canola oil is not just for human consumption, part of that growth may go toward other uses such as animal feed, said Hope Lee, a senior analyst.

 

Rising demand for healthier cooking oils from North American consumers and a growing middle class in Asia has helped boost exports, said Bruce Jowett, vice president of market development for the Canola Council of Canada. That, in turn, has prompted farmers to continue to seed more acres and for processors to invest “significantly” in increasing the amount of oil and meal they can export, he said.

 

In 2015, the Food and Drug Administration determined that partially hydrogenated oils, the main source of trans fats that contribute to heart disease, are not generally recognized as safe. Many companies — including McDonald’s Corp. and Unilver Plc — have committed to phasing out trans fats from their food products.

 

Processing capacity has more than doubled in the past decade. The industry, including Richardson International, Bunge Ltd. and Archer-Daniels-Midland Co., has spent about C$1 billion to upgrade and expand. Canada may produce as much as 26 million tons of canola by 2025, a 41 percent increase from 2016, Jowett said.

 

“Canola is the healthiest oil that’s out there,” Jowett said. “As consumers become more educated about their health, they can see that consuming less saturated fat is a good thing.”


By mrduediligence

Posted: Monday Jun 5 9:29:48AM 2017

Sunora Foods May 2017 Export Catalogue (Alberta Government)

http://www1.agric.gov.ab.ca/$Department/deptdocs.nsf/all/trade14246/$FILE/export_catalogue_may2017.pdf

On Page 57

Sunora Foods, based in Calgary, Alberta, Canada, has its roots in canola oil. The very name – Sunora – is derived from the sun golden canola flowers that grow in the fields in the shadow of the Canadian Rockies. Sunora is internationally recognized for its canola oil and related canola products and is a major Canadian exporter of food oil. Although Sunora Foods has its roots in canola oil, many customers turn to Sunora for other food oils and canola margarine. To these customers, Sunora means corn oil or soybean oil or sunflower oil. With its international trading capabilities, the company is often the best and most cost-effective source of corn oil, soybean oil and sunflower oil.


By mrduediligence

Posted: Wednesday May 31 8:30:28AM 2017

Sunora Foods Q1 Results. Financials + MD&A Highlights

Price: $0.20
Common Shares: 42,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%
Website: www.sunora.com

Financials

Assets
Cash: $3,133,920
Accounts Receivable: $1,254,247
Accrued Interest: $1,537
Inventory: $533,623
Prepaid Expenses: $15,760
Goods & Services Tax Recoverable: $10,545
Income Tax Recoverable: $118,130
Deferred Tax Asset: $159,545
Total Assets: $5,227,307

Liabilities
Accounts Payable: $1,084,857
Customer Deposits: $40,020
Total Liabilities: $1,124,877

NAV = $5,227,307 - $1,124,877 = $4,102,430 or ($0.097) or $0.10c a share net asset value. Junior earnings based companies with established positive cash flow usually trade at a 4-5 times multiple, if not more. Even exploration based companies with no revenue and high-risk trade at a greater multiple than SNF, which is a 27 year old established company(see their website)

Q1 2017 Sales Breakdown
Sales: $3,480,230 (last year sales - $2,687,379)
Income Before Tax: $91,178
Net Income: $66,560 (last year profit - $24,971)

Breakdown of sales by region
USA - $2,701,689 (Last year - $2,167,415)
Canada - $252,384 (Last year - $235,713)
International - $526,157 (Last year - $284,251)

Previous FULL Years Of Sales
2014 - $13,235,038 - $189,073 - Added listing expenses incurred from merger with capital pool
2015 - $10,815,959 - $502,182 - Net income of $200,000 affected by currency exchange
2016 - $12,254,101 - $282,794 - Currency loss of $34,000 or else net income was stable y/o/y

MD&A Highlights

Sunora Foods Inc. (“Sunora Foods”) is a Calgary-based trader and supplier of canola, 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 29.5% higher sales for the three-month period ended March 31, 2017 than the comparative three-month period. The increase in sales resulted from greater sales of bulk oil to the United States and an 85% increase in sales overseas.

The $66,560 of net income and comprehensive income in the three-months ended March 31, 2017 was 167% higher than the same period of 2016. This was primarily a result of foreign exchange income of $10,833 as opposed to a foreign exchange loss of $82,655 in the comparative period. Gross margin declined from 9.4% to 6.7% as a result of an increase in bulk sales, which yield lower margins relative to packaged products.

Sunora's current assets consist of cash, accounts receivable, inventory, prepaid expenses and income tax recoverable. Cash is held for working capital requirements and to fund expansion costs for new markets and customers. A policy of conserving cash is rigorously followed by management in order to sustain operations and foster its marketing strategies. Accounts receivable increased 32.1% from December 31, 2016 due to higher sales. The 21.8% increase in inventory is due to increased purchases in anticipation of future sales.

Sunora's current liabilities consist of accounts payable and accrued liabilities, income tax payable and customer deposits. Accounts payables and accrued liabilities increased 13.8% from December 31, 2016, due to increased purchases at the end of this quarter. Nevertheless, Sunora is committed to its policy to manage its trade payables on a current basis and maintain its excellent credit standing.

A direct correlation to Sunora's increased sales has been its marketing efforts. Over the years, Sunora has established good relationships with its sale staff, giving them more flexibility and autonomy as mutual trust has developed in these relationships. In North America, Sunora has worked with brokers who have introduced new customers to the Company. Sales to independent distributors have also grown, mostly in overseas countries, who have given Sunora entry into many foreign markets. Product sales to foreign distributors and for other customers are final and not returnable.

Net income for the first quarter of 2017 decreased 16% from the fourth quarter of 2016. The decrease was due to the lower gross margins. Compared to the quarter ended March 31, 2016, net income increased by 167%. Earnings per share – basic and diluted, for the first quarter of 2017 and for the fourth quarter of 2016 were $0.002 per share for each quarter. It increased from $0.001 per share for the quarter ended March 31, 2016.

Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations. Management is also actively considering possible new products that may benefit from new domestic and international markets where it is currently active. With the continuing positive momentum in the United States economy and new customers being added in Asia, Sunora is well placed for the future.

 

 


By mrduediligence

Posted: Wednesday May 31 8:07:58AM 2017

New company presentation: http://www.sunora.com/assets/docs/ppt/sunora-foods-corporate-presentation-summer-2017.pdf


By mrduediligence

Posted: Tuesday May 30 8:24:03AM 2017

Sunora Foods earns $66,560 in Q1 2017

 
2017-05-30 07:59 MT - News Release

 

Mr. Dean Stuart reports

SUNORA FOODS ANNOUNCES FIRST QUARTER FINANCIAL RESULTS

Sunora Foods Inc. has filed its financial statements and management discussion and analysis for the period ended March 31, 2017. These filings are available for review on SEDAR and the corporation's website.

During the fiscal year ended March 31, 2017, Sunora's highlights include the following:

 

Revenue of $3,480,230 for the first quarter of 2017 versus revenue of $2,687,379 for the comparable first quarter of 2016, an increase of 29.5 per cent;
International sales of $526,157 for in the first quarter of 2017 versus international sales of $284,251 for the comparable first quarter of 2016, due to increased distribution and increased demand for healthy foods in Asia;
Net income for the period ended March 31, 2017, of $66,560 versus net income of $24,971 for the comparable period ended March 31, 2016, an increase of 167 per cent;
Cash and cash equivalents of $3,133,920 and working capital of $3,942,885 at the end of the first quarter of 2017.
 

 

FINANCIAL HIGHLIGHTS

Period ended
March 31, 2017

Sales $3,480,230
Gross margin $232,734
Income before taxes $91,178
Net income $66,560
Earnings per share $0.002
 

About Sunora Foods Inc.

Sunora Foods is a food oil entity based in Calgary, Alta., trading and supplying canola oil, corn oil, soybean oil, olive oil and specialty oils in Canada and internationally under the Sunora, Sunera and numerous private-label brands.

© 2017 Canjex Publishing Ltd. All rights reserved.


By mrduediligence

Posted: Thursday May 18 8:57:56AM 2017

http://thechronicleherald.ca/business/1448190-canola-exports-hit-record-on-chinese-demand-only-months-after-trade-dispute

 

CALGARY — Strong demand from China helped lift canola exports to a record $845 million in January and boost the national trade surplus, Statistics Canada said on Tuesday, a sharp rebound for a sector threatened by a trade dispute last year.

 

China had said last year that because of disease concerns, it would toughen restrictions on the amount of foreign materials - such as weeds, other crops and detritus - permitted in Canadian canola exports. Canadian producers and handlers were worried this could hurt demand for the oilseed, which is used to make cooking oil, animal feed and biofuel.

 

The dispute was partially resolved as part of wider talks between Prime Minister Justin Trudeau and Chinese Premier Li Keqiang, with an agreement signed in September to maintain the current levels until early 2020.

 

The uncertainty helped push down canola exports to China to 80,000 tonnes in September, the lowest since 2013, before rebounding to a record high of 741,000 tonnes in January.

 

The value of all Canadian canola exports was up 38.4 per cent in January compared from December, and more than double from October, Statistics Canada said Tuesday, helping push a third straight trade surplus for Canada.

 

Export volumes of canola reached a record level of about 1.4 million tonnes in January according to Statistics Canada, driven in part by lower prices that appealed to international buyers, said Ken Ball, a senior adviser at PI Financial.

 

"The main reason was canola was just extremely cheap," he said.

 

Prices have since climbed, said Ball, but the market still looks strong for the year with potential for close to 20 million tonnes of demand, and supply expected to be only a few hundred thousand tonnes higher.

 

"We could be left with a fairly tight situation," said Ball. 

 

The Canola Council of Canada said that exports could be further boosted if Canada and China were to reach a free trade deal. 

 

The council released a report on Monday that showed if China eliminated the nine per cent tariff on canola seed, exports to the country could increase by up to $1.2 billion, the equivalent of about 10 per cent of Canada's 18.5 million tonnes of production.

 

China was the second largest export market for canola after the United States last year, taking in 4.8 million tonnes of seed, oil and meal worth $2.7-billion, according to the Canola Council.

 

Ian Bickis, The Canadian Press


By mrduediligence

Posted: Thursday May 18 8:29:49AM 2017

http://www.qai-inc.com/listings/listings_results_detail.asp?cust_id=108223&requestFrom=%2Flistings%2Flistings_results_company%2Easp%3Flist_by%3Ds

 

The new addition should add some more credibility to the Canola oil they sell in the United States and hopefully more sales with it. Just showed up on Google search

 

Facility Information:
Facility #1: Sunora Foods Ltd.
4616 Valiant Dr., NW Ste. 205
Calgary, Alberta T3A 0X9
Canada

 

Certification Type:

COR - Handling (Trader)
      Certification Number: C0030537-CORHTR-13

      Product Details: 
Product Name
Claim Description
Listed Date
 
Canola Oil
Organic
3/31/2015
 
Canola Oil
Organic
3/16/2010
 
Canola Oil
Organic
4/20/2016


By mrduediligence

Posted: Monday May 8 10:58:37AM 2017

By mrduediligence

Posted: Tuesday May 2 8:13:40PM 2017

Spring presentation has some more possible leads to where Sunora Foods is headed. It mentions vertical integration, also bio diesel with canola oil. This is all mentioned in the second last page.

http://www.sunora.com/assets/docs/ppt/sunora-foods-corporate-presentation-spring-2017-20170502084840.pdf

Continue expansion into Asia where demand for premium quality Canadian brand Canola is highest
Focus on developing Asian and Chinese markets Partner locally to expand volume sales
Expand the global distribution network Build on existing North American customer base and brand
Vertical integration opportunities
Investigating complementary food and shelf stable goods for export to current countries and region with high demand for Canadian made products
Exploring potential sales channels for Biodiesel
Increase private labeling activity

Interesting article on bio-diesel made from Canola that came out a couple weeks ago: http://www.producer.com/2017/04/canola-oil-may-head-south-for-biodiesel/


By mrduediligence

Posted: Sunday Apr 30 4:30:55PM 2017

Sunora Foods Inc. (SNF.V) Audited Year End Results

Price: $0.255
Common Shares: 42,254,332
Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52%

Financials

ASSETS
Cash: $3,353,921
Accounts Receivable: $949,816
Accrued Interest: $2,908
Inventory: $438,064
Prepaid Expenses: $21,874
Income Tax Recoverable: $110,457
Goods Tax Recoverable: $11,023
Total Assets: $5,047,608

LIABILITIES
Accounts Payable: $954,092
Customer Deposits: $71,510
Total Liabilities: $1,025,602

Note: Sales in Q4 2015, Q1/Q2 2016 were affected by a co-packer issue. This meant that Sunora Foods Inc was required to find other means of distribution, hence hurting sales and margins during those 9 months. This is now resolved, see MD&A below. As well, sales are up year over year even after co-packer setback. Sales were stable year over year despite all this and the larger profit from 2015 was caused by currency exchange, not sales income.


Year - Sales - Net Income  -- Company Was Private Until 2014

2014 - $13,235,038 - $189,073 - Added listing expenses incurred
2015 - $10,815,959 - $502,182 -  Net income of $200,000 affected by currency exchange
2016 - $12,254,101 - $282,794 - Currency loss of $34,000 or else net income was stable y/o/y

Q1 2017 results will be released end of May, 2017.

MD&A Highlights

Sunora sales for the year ended December 31, 2016 were positively impacted by an increase of 13.3% over the previous year due to sales growth in the United States and internationally. 

The net income and comprehensive income in the year ended December 31, 2016 of $282,794 compared to $502,182 for the previous year, a decline of 43.68%. Instead of foreign exchange gain of $204,165, there was a foreign exchange loss of $33,456. In addition, the gross margin for the year ended December 31, 2016 declined by 0.2% from previous year despite the 13.3% increase in sales. The lower total gross margin can be attributed to a lower percentage of sales in packaged products that have a higher value added.

The Company also had an economic dependence on one customer in 2016 and 2015. Sales to this customer were 21% in the three months ended December 31, 2016 (2015 28%) and 19% (2015 17%) of total sales in the year ended December 31, 2016.

Sunora's sales to the United States have recently trended higher in comparison to sales in Canada. Overseas markets are continuing to grow and provide greater long term stability to sales.  The growth of sales in emerging markets, with growing awareness of healthy food choices by the expanding middle classes, is a positive trend for Sunora.  Overseas sales in the fourth quarter increased significantly because of the timing of the New Year celebrations in Asia and the general positive trend.

Sunora has increased sales over the year due to marketing efforts. Sunora has established strong relationships with sales staff and given them more flexibility and support as mutual trust has developed in these relationships. In North America, Sunora has outstanding commissioned brokers who have introduced new customers to the Company. Sales to independent distributors have also grown for Sunora, mostly in countries overseas, which has given Sunora entry into many foreign markets.


The foreign exchange gain or loss is primarily a result of the inventory purchases and sales that are denominated in US currency.
 
Outlook

Sunora maintains strong relationships with strategically located customers in North America and overseas. 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 the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunoras operations are impacted by geopolitical situations that may hold up deliveries as was experienced in the fourth quarter of 2015. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.
 
Management is actively identifying and analyzing operations that might increase sales and profitability for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management.
 
Management is also actively considering possible new products that may benefit from new domestic and international markets.
 
With the continuing improvement in the United States economy and new customers being added in Asia Sunora is well placed to improve its profitability and financial position.

Sunora has only one long term contractual obligation of a lease on its office facilities in the Provident Professional Building in Calgary, Alberta. This lease for 1,038 square feet of office space terminates on August 31, 2017, and has an early termination clause with nine months' notice during the last two years.  


By mrduediligence

Posted: Sunday Apr 30 12:31:44PM 2017

Sunora Foods earns $282,794 in 2016

2017-04-28 13:34 MT - News Release

Mr. Steve Bank reports
SUNORA FOODS ANNOUNCES 2016 YEAR END FINANCIAL RESULTS


Sunora Foods Inc. has filed its financial statements, and management's discussion and analysis for the fiscal year ending Dec. 31, 2016. These filings are available for review on SEDAR and the corporation's website.


During the fiscal year ended Dec. 31, 2016, Sunora's highlights included the following:

Revenue of $12,254,101 for the 2016 fiscal year versus revenue of $10,815,959 for the comparable 2015 fiscal year;
International sales of $2,691,977 for the 2016 fiscal year versus international sales of $1,848,317 for the 2015 fiscal year;
Gross margin for the period ending Dec. 31, 2016, of 8.9 per cent versus gross margin for the comparable period ending Dec. 31, 2015, of 10.7 per cent;
Foreign exchange expense of $33,456 for the 2016 fiscal year versus a foreign exchange gain of $204,165 for the 2015 fiscal year;
Net income for the period ending Dec. 31, 2016, of $282,794 versus net income of $502,182 for the comparable period ending Dec. 31, 2015, a decrease of 44 per cent;
Cash and cash equivalents of $3,353,921 for the period ending Dec. 31, 2016, versus $2,620,566 for the comparable period ending Dec. 31, 2015;
Acquisition of 8,028,400 shares by Shanghai Hao Zhuo International Trading Ltd. from president and chief executive officer Steve Bank.


FINANCIAL HIGHLIGHTS

Period ending Dec. 31, 2016

Sales $12,254,101
Gross margin $1,087,617
Income before taxes $370,744
Net income $282,794
Earnings per share $0.007

About Sunora Foods Inc.
Sunora Foods is a food oil entity based in Calgary, Ata., trading and supplying canola oil, corn oil, soybean oil, olive oil and specialty oils in Canada and internationally.
© 2017 Canjex Publishing Ltd. All rights reserved.


By mrduediligence

Posted: Saturday Apr 15 3:01:35PM 2017

Saw this article today and did a little more research and confirmed that it is true via the company's LinkedIn page:

Article: http://nation.com.pk/business/15-Apr-2017/corporate-corner - This article only showed up on Google Search less than 24 hours ago and I do weekly Sunora Foods Google word searches

Key Line: LAHORE (PR): Agro Processor & Atmospheric Gases Pvt Ltd (APAG) is a leading company in the edible oil industry of the country. With renowned brands like Soya Supreme, Smart, Malta & Champion APAG continues to satisfy the needs of its consumers through its high-quality brands. APAG has been offering Smart Canola Cooking Oil under the license of Sunora Foods Canada.

AGAP Linkedin Page: https://www.linkedin.com/company/agro-processors-&-atmospheric-gases-pvt-ltd-

Sunora Foods & AGAP Commercial - https://www.youtube.com/watch?v=ZBN9fVzN3Ss - This commercial came out end of 2016 on Youtube


By mrduediligence

Posted: Wednesday Apr 12 12:16:08PM 2017

Edible oils in India article, easy market that SNF could penetrate along with Europe.

http://www.business-standard.com/article/markets/profit-margins-lure-edible-oil-makers-to-enter-the-premium-segment-117041100452_1.html


By mrduediligence

Posted: Monday Mar 27 7:29:50AM 2017

By mrduediligence

Posted: Thursday Mar 23 8:00:39AM 2017

Some more recent articles based on Canola:


http://www.theguardian.pe.ca/news/local/2017/3/20/macaulay-looks-to-tap-asian-pacific-trade-market-for-canadian-pr.html

http://www.producer.com/2017/03/canola-could-pull-ahead-of-soybeans/


By mrduediligence

Posted: Wednesday Mar 22 8:56:13AM 2017

Canada Canola Council backs China-Canada Free Trade Deal

https://www.agra-net.com/agra/public-ledger/commodities/oils-oilseeds/rapeseed/canola-council-backs-canada-china-fta--1.htm

Also an additional article, edible oils are increasing in India, perhaps a new market to tap later on? But I think Europe will have more potential thanks to that CETA agreement that was recently signed. SNF is the only public company on the TSXV/CSE that sells edible oils.

http://www.thehindubusinessline.com/economy/agri-business/indias-veg-oil-imports-rise-17-per-cent-in-february/article9585820.ece


By mrduediligence

Posted: Friday Mar 10 11:36:31AM 2017

By mrduediligence

Posted: Wednesday Feb 15 2:08:07PM 2017

With the approval of CETA today (Trade agreement between Canada and the European Union), Sunora Foods will no longer have any obstacles entering any of the European countries if they so choose to. Management has been opposed to Europe for years because of the very high tariffs and other trade barriers. These will soon cease to exist, thus giving the company more potential customers around the world.

https://www.thestar.com/business/2017/02/15/eu-parliament-approves-trade-deal-with-canada.html

http://cafta.org/wp-content/uploads/2016/06/Canada-EU-Briefing-note_EN.pdf

On Page 1:
Canada’s agricultural exports to the EU totalled an annual average of $2.5 billion between 2011 and 2013, led by wheat, soybeans and other oilseeds, canola oil, frozen fruits and maple syrup. Canadian agricultural exports to the EU currently face high tariff rates, with average EU agricultural tariffs of 13.9 percent.


By mrduediligence

Posted: Wednesday Feb 8 5:19:02PM 2017

SNF Yearly Revenue/Profit Comparison From 2014-2016

M=Million K=Thousands

 

2014: Revenue - $13.2M  & Net Income - $189K
2015: Revenue - $10.8M & Net Income - $502K (Co-packer issue started in Q4 2015 that hurt sales)
2016: Revenue - $12.3M & Net Income - $350K ( Co-packer issue did not end until Q3 2016)
(Note – 2016 is an estimate based on Q3 results, added with the news release announced today)

 

2014: Cash - $1.78M – Total Assets - $4.14M – Total Liabilities - $1.07M
2015: Cash - $2.62M – Total Assets - $4.22M – Total Liabilities - $548K
2016: Cash - $3.1M – Total Assets - $5.24M – Total Liabilities - $1.3M (These are Q3 results, not including Q4)

Keep in mind that the CEO owns 52% of the common shares. A Chinese investment group owns 19% of the common shares, so that leaves 29% or 12,253,756 shares held by retail investors.

 

 


By mrduediligence

Posted: Wednesday Feb 8 7:19:22AM 2017

Sunora Foods estimates Q4 2016 sales of $3.44-million

2017-02-08 07:33 MT - News Release

Mr. Steve Bank reports

SUNORA FOODS ANNOUNCES QUARTER 4 SALES AND CHANGE OF AUDITOR

Sunora Foods Inc. has released unaudited, preliminary fourth quarter sales for the period ending Dec. 31, 2016.

For the three-month period ending Dec. 31, 2016, the corporation had unaudited sales of $3,444,559 versus sales for the fourth quarter 2015 of $2,394,656. Sales were broken down as shown in the attached table.

FOURTH QUARTER 2016 SALES

United States $2,034,864
Canada $427,002
Overseas $982,692

The corporation also announces it has changed its auditor from Collins Barrow Calgary LLP to Calvista LLP Chartered Professional Accountants of Calgary, Alta.

At the request of the corporation, the former auditor tendered its resignation as auditor of the corporation, effective on Jan. 24, 2017, and the board of directors of the corporation appointed the successor auditor as the corporation's auditor, effective Jan. 24, 2017, until the next annual general meeting of the corporation.

There were no reservations in the former auditor's reports in connection with the most recently completed fiscal year (2015) or for any period subsequent to the most recently completed period for which an audit report was issued preceding the date of the former auditor's resignation. There are no reportable events (as that term is defined in National Instrument 51-102, continuous disclosure obligations) between the corporation and the former auditor.

In accordance with National Instrument 51-102, the notice of change of auditor, together with the required letters from the former auditor and the successor auditor, has been reviewed by the audit committee and the board of directors, and has been filed on SEDAR.

About Sunora Foods Inc.

Sunora Foods is a food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil and specialty oils in Canada and internationally.

© 2017 Canjex Publishing Ltd. All rights reserved.


By mrduediligence

Posted: Saturday Feb 4 9:55:33AM 2017

Did another Google search on Sunora Foods and there seems to be a new company based in China that is specifically selling Sunora's Canola oil. Their website was updated on December 20th 2016.

www.nthwell.com

Hebei Northville International Trade Co., Ltd. is advocating the import of health food, leading the kitchen revolution of the professional importers, the company has an experienced professional management team. To provide consumers with natural, safe, green, nutrition, health food and energy saving, environmental protection, fashion kitchen appliances, to create "product traceability, quality excellence, healthy living" consumption concept. Allowing you to simultaneously enjoy the world's high-quality health of a new life.

http://nthwell.com/en/supply_chain.html


SAFE AND RELIABLE SUPPLY CHAIN

Nothwell owns professional imported elite team and lots of overseas branches, from the inspection of place of origin, signing the contract, product quality inspection, overseas transportation, to the strict control of domestic storage, to ensure that each step can be carefully, quickly, and efficiently completed.
Sunora Foods Ltd is a Canadian listed company specializing in production of canola oil.
Besler Foods & Chemicals Corp.is a Turkish sunflower oil production enterprises with 60 years history .

http://nthwell.com/product/canola_oil/productpage.html


By mrduediligence

Posted: Thursday Jan 26 12:49:32PM 2017

SNF January 2017 Company Presentation. Does not include insider ownership which is currently at 71% of common shares

http://www.boardmarker.net/fact%20sheets%20and%20presentations/Sunora%20Foods%20January%202017%20Fact%20Sheet.pdf


By mrduediligence

Posted: Tuesday Dec 6 8:20:19PM 2016

December 2016 company presentation. Keep in mind that SNF has over $3 million in cash with an asset/debt ratio of 4:1 and 71% insider holdings - http://www.sunora.com/assets/docs/ppt/sunora-foods-ppt-dec-2016.pdf

By mrduediligence

Posted: Monday Nov 28 6:59:10AM 2016

Sunora Foods earns $122,103 in Q3 2016-11-28 06:10 MT - News Release Mr. Steve Bank reports SUNORA FOODS ANNOUNCES QUARTER 3 FINANCIAL RESULTS Sunora Foods Inc. has filed its financial statements and management discussion and analysis for the fiscal period ending Sept. 30, 2016. These filings are available for review on SEDAR and the Corporation's website. During the fiscal period ended September 30, 2016 Sunora's highlights include the following: -Net Income for the period ending September 30, 2016 of $122,103, the 4 th consecutive quarter of increasing net income. -Gross margin for the period ending September 30, 2016 of $328,982 or 10.0% on sales of $3,281,156. -Revenue of $3,281,156 for the 2016 Q3 versus revenue of $2,451,477 for the comparable 2015 Q3. -Cash and Cash Equivalents of $3,091,780 for the period ending September 30, 2016 versus $2,620,566 at the end of December 31, 2015. -Inventory of $687,014 for the period ending September 30, 2016; due to inventory of bulk oil for future orders. -Continued development of sales channels in China and Southeast Asia with international sales of $850,414, the highest in the Corporation's history. Financial Highlights Period ending September 30, 2016 Sales $3,281,156 Gross Margin $328,982 Income before Taxes$173,103 Net Income $122,103 Earnings Per Share $0.003 About Sunora Foods Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands. © 2016 Canjex Publishing Ltd. All rights reserved.

By mrduediligence

Posted: Friday Nov 25 4:59:02PM 2016

Sunora Foods Q3 Financial Statement with MD&A (Ending September 30th 2016) Price: $0.16 Common Shares: 42,254,332 Insider/Institutional Holdings: 71% total, as per information circular. CEO holds 52% Financials: Assets Cash: $3,091,780 Accounts Receivable: $1,233,869 Inventory: $687,014 Prepaid Expenses: $3,911 Income Tax Installments: $74,503 Deferred Tax: $147,974 Total Assets: $5,239,051 Liabilities Accounts Payable: $1,232,809 Customer Deposits: $99,613 Total Liabilities: $1,332,422 Note: Sales in Q4 2015, Q1/Q2 2016 were affected by a co-packer issue. This meant that Sunora Foods were required to find other means of distribution, hence hurting sales and margins during those 9 months. This is now resolved, see MD&A below. As well, sales are up year over year even after co-packer setback. Q3 Sales - $3,281,156 ($2,451,477 in 2015) 9 Month Sales - $8,804,308 ($8,452,570 in 2015) Q3 2016 Net Income - $122,872 Q2 2016 Net Income - $55,615 Q1 2016 Net Income - $24,971 Net Income for 2015 - $502,182 (Q4 was a loss of $54,000 due to start of co-packer issue) Net Income for 2014 - $189,073 (Company was private until 2014) MD&A Highlights In the third quarter of 2016, sales increased 15.7% due to an increase in bulk oil sales in comparison to the second quarter. In the second quarter of 2016, sales had increased 5.5% due to some increase in bulk oil sales in comparison to the first quarter. Sales for the first quarter of 2016 were 12.6% higher than the fourth quarter of 2015. Sales for the fourth quarter of 2015 were 2.6% lower than the third quarter of 2015 due to a decrease in overseas sales. 2015 third quarter sales were 24% lower than the second quarter of 2015; second quarter 5 sales were 18% higher than first quarter of 2015. Sunora's sales to the United States have recently trended higher in proportion to sales in Canada. Overseas markets are generally continuing to grow, although international sales were adversely impacted in the first six months by short term conditions. Sales in Canada declined in this nine month period compared to the same period last year due to reduced bulk oil shipments in Canada. The growth of sales in emerging markets is due to a trend in greater awareness of healthy food choices in an expanding middle class. Overseas sales are continuing to grow. Sunora had 4.2% higher sales for the nine-month period ended September 30, 2016 than the comparative nine month period. Sales were somewhat adversely impacted by delivery issues with a key co-packer. The $203,458 of net income and comprehensive income in the nine months ended September 30, 2016 was 63% lower than the same period of 2015. This was primarily a result of a foreign exchange loss of $45,823, as opposed to a foreign exchange gain of $165,229 in the comparative period. Gross margin declined from 11.2% to 8.9% at least partly because of delivery issues with a co-packer. Cost of sales consists of purchases of crude and refined oil, packaging, freight and custom duties. Sunora achieved a gross margin of 10% in the three months ended September 30, 2016, compared to 12.9% in the three months ended September 30, 2015. Gross margin for the nine months ended September 30, 2016 were 8.9% compared to 11.2% for the nine months ended September 30, 2015. These margins were impacted by delivery issues with a co-packer. The Company's target Working Capital Ratio (Current Assets divided by Current Liabilities, which is an indicator of its ability to finance its on-going operations) is 2:1. Current Assets comprise cash, accounts receivable, inventory, prepaid expenses and income tax recoverable; Current Liabilities include accounts payable, accrued liabilities and income taxes payable. The amounts of accounts receivable, inventory and accounts payable and accrued liabilities at a point in time are the direct result of sales and purchases and how the Company manages collections, supplier credit and inventory levels, which in turn is manifested in the available cash. At September 30, 2016, the Working Capital Ratio was 3.8:1 compared to 7.4:1 at December 31, 2015. The Company's business has been consistently managed with a strong working capital position which has enabled the Company to operate without debt. Additionally, the current nature of Sunora's operations has enabled it to expand without making capital investments. Therefore, the Company believes it is in a very favourable position to expand in the future. Outlook Sunora maintains good relationships with customers in North America and overseas. 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 the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations are impacted by geopolitical situations that may hold up deliveries as was experienced in some recent quarters. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand. Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations. Management is also actively considering possible new products that may benefit from new domestic and international markets. With the continuing positive momentum in the United States economy and new customers being added in Asia, Sunora is well placed for the future.

By mrduediligence

Posted: Monday Nov 14 7:14:21AM 2016

Here are two radio interviews with Steve Banks. They both talk about expansion into Asia, how the strong US dollar helps the company and other good notes. 

 

By mrduediligence

Posted: Friday Oct 28 2:19:36PM 2016

SNF hit an all time high this week and it makes sense if you can understand their balance sheet and revenue. That and the fact that 71% is insider/instititonal holdings, so shares are not easy to come by.


By mrduediligence

Posted: Friday Oct 14 1:52:38PM 2016

New production distribution partnership. Through Google searches it shows that this website was created/modified August 2016. So there should be some mention of this in the Q2 results.

http://www.prairiecommodities-arcv.com/

Parent Company - http://www.arc-ventures.com/home


By mrduediligence

Posted: Thursday Sep 8 2:51:47PM 2016

Some of the many places that sell Sunora's different oil products. As stated in the last news release "Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands."

http://www.foodfacts.com/ci/nutriti...canola-oil-extra-virgin-olive-oil-16-oz/93840

http://www.keyfood.com/pd/Sunera/Canola-and-Extra-Virgin-Olive-Oil/16-oz/770099167716/

https://www.amazon.com/Sunera-Canola-Extra-Virgin-Olive/dp/B00C37UDPA

http://www.fooducate.com/app#!page=product&id=AAA8D67A-E116-11DF-A102-FEFD45A4D471

http://www.shopwell.com/sunera-canola-extra-virgin-olive-oil/oil/p/7009916771?f=sp226958

https://seasonskosher.com/#!/hb/c/1...king-needs/kosher-oil/sunora-canola-oil-32-oz


By mrduediligence

Posted: Tuesday Sep 6 5:52:43PM 2016

By mrduediligence

Posted: Thursday Sep 1 7:06:17AM 2016

Sunora unaffected by Chinese canola seed restriction
 
2016-09-01 05:50 MT - News Release
 
Mr. Steve Bank reports
 
SUNORA FOODS MAINTAINS MOMENTUM IN CHINA
 
Sunora Foods Inc. has provided a clarification on the potential impact on Sunora Foods of the restrictions on the export of canola seed to China. The current concern relates strictly to canola seed and is with regard to the amount of dockage, or foreign material such as weeds, other crops or detritus in the exported material. Sunora is not actively exporting canola seed and would not be impacted in China by any potential restriction on the export of this material.
 
Sunora exports to China and other Asian jurisdictions are strictly related to canola oil and other food oils. Management continues to develop new sales channels and customers in China and other Southeast Asian countries. The corporation was recently interviewed by CBC News Calgary for input on the potential disruption to canola seed and meal exports.
 
"If there's less seed in China for processors, and there may be somewhat less, it opens up an opportunity for those of us who are exporting canola oil itself," said Steve Bank, the chief executive officer of Sunora Foods, whose second largest market after the United States is China.
 
© 2016 Canjex Publishing Ltd. All rights reserved.

By mrduediligence

Posted: Tuesday Aug 30 5:42:31AM 2016

CBC article with CEO Steve Bank that clearly states the company can only be positively impacted from this experience:
 
 
Oil producers could benefit
One group that could benefit from those lower prices are domestic crushers, who turn the seeds into oil. 
 
"If there's less seed in China for processors, and there may be somewhat less, it opens up an opportunity for those of us who are exporting canola oil itself," said Steven Bank, the CEO of Sunora Oil, whose second largest market after the U.S. is China.

By mrduediligence

Posted: Friday Aug 26 8:01:20AM 2016

Sunora Foods Q2 Financial Statements with MD&A

Price: $0.125
Common Shares: 42,254,332
Insider Holdings: 71% Total - 52% held by CEO , 19% by Chinese Company

Financials

Assets
Cash: $2,589,380
Receivable: $1,097,463
Inventory: $706,287
Prepaid Expenses: $18,375
Tax Recoverable: $73,804
Deferred Tax asset: $147,974
Total Assets: $4,633,283 (Q1 was $4,744,888)

Liabilities
Accounts Payable: $849,782
Deposits: $7000
Total Liabilities: $856,782 (Q1 was $1,048,682)

Profit Breakdown
Net Income in Q1/Q2 2016: $80,586
Net Income for 2015: $502,182
Net Income for 2014: $189,073
Cash added over last 10 quarters: $771,841
 
**NOTE** Keep in mind that a packer problem has caused issues spanning from Q4 2015 until mid Q2 2016. These have since been resolved.
 
MD&A Highlights
 
At June 30, 2016, the Working Capital Ratio was 5.2:1 compared to 7.4:1 at December 31, 2015. The Company's business has been consistently managed with a strong working capital position which has enabled the Company to operate without debt. Additionally, the current nature of Sunora's operations has enabled it to expand without making capital investments. Therefore, the Company believes it is in a very favourable position to expand in the future.

Sunora had lower sales for the six-month period ended June 30, 2016 than the comparative six month period. Sales were somewhat adversely impacted by lower commodity prices for food oil. The $80,586 of net income and comprehensive income in the six months ended June 30, 2016 was lower than the same period of 2015. This was partly a result of a foreign exchange loss of $53,337, as opposed to a foreign exchange gain of $102,603 in the comparative period. In addition, sales were 7.6% lower, and the gross margin declined from 10.1% to 8.2%. Gross margin was impacted by internal issues at a co-packer.
 
Accounts payable increased by $381,556 since December 31, 2015, due to increased bulk oil purchases at the end of this quarter. Nevertheless, Sunora is committed to its policy to manage its trade payables on a current basis and maintain its excellent credit standing.
 
Sunora's sales to the United States have recently trended higher in proportion of sales in Canada. Although overseas markets are generally continuing to grow, international sales were adversely impacted in the six months ended June 30, 2016 by short term conditions. Sales in Canada declined in this six month period compared to the same period last year due to reduced bulk oil shipments in Canada. The growth of sales in emerging markets is due to a trend in greater awareness of healthy food choices in an expanding middle class.
 
Outlook

Sunora maintains good relationships with customers in North America and overseas. 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 the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations are impacted by geopolitical situations that may hold up deliveries as was experienced in recent quarters. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.

Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations. Management is also actively considering possible new products that may benefit from new domestic and international markets.
 
With the continuing positive momentum in the United States economy and new customers being added in Asia Sunora is well placed for the future.

By mrduediligence

Posted: Thursday Aug 25 7:05:10AM 2016

Sunora Foods earns $55,615 in Q2

2016-08-25 06:42 MT - News Release

Mr. Dean Stuart reports

SUNORA FOODS ANNOUNCES QUARTER 2 FINANCIAL RESULTS

Sunora Foods Inc. has filed its financials statements and management discussion and analysis for the fiscal period ending June 30, 2016. These filings are available for review on SEDAR and the Corporation's website.

During the fiscal period ended June 30, 2016 Sunora's highlights include the following:

-- Net Income for the period ending June 30, 2016 of $55,615 versus net income of $110,940 for the comparable period ending June 30, 2015; partly the result of internal issues at a co-packer. 
-- Gross margin for the period ending June 30, 2016 of 7.1% versus gross margin for the comparable period ending June 30, 2015 of 9.3%; partly the result of internal issues at a co-packer.
-- Revenue of $2,835,773 for the 2016 Q2 versus revenue of $3,233,996 for the comparable 2015 Q2. 
-- Cash and Cash Equivalents of $2,589,380 for the period ending June 30, 2016 versus $2,620,566 at the end of December 31, 2015. 
-- Inventory of $1,097,463 for the period ending June 30, 2016; due to a build-up in inventory of bulk oil for future orders. 
-- 8,028,400 common shares now held by Shanghai Hao Zhuo International Trading Ltd. of China representing 19% of the outstanding common shares. The shares were purchased from President and Chief Exective Officer Steve Bank

   Financial Highlights
  
  Period ending June 30, 2016
Sales              $2,835,773                 
Gross Margin       $200,726                   
Income before Taxes $76,185                    
Net Income         $55,615                    
Earnings Per Share $0.001        

Sunora's Q2 2016 sales were impacted by a slowing in bulk oil sales in Canada, and partially offset by increased sales to the United States and International locations including China. It is anticipated that sales may increase in the second half of 2016, and the Corporation continues to identify and develop new markets with a specific focus on China. Management is also focused on working with packagers of Canadian manufactured products that are looking for a strategic partner to expand international operations.

About Sunora Foods

Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands.

© 2016 Canjex Publishing Ltd. All rights reserved.


By mrduediligence

Posted: Saturday Jul 16 7:28:01AM 2016

Despite lack of news and Q2 results coming out in 6 weeks, Sunora has been busy promoting the brand throughout North America in a March 2016 article and June 2016 show. Keep in mind that this came out before the Chinese investor purchased 19% of the stock(April 2016) which tells me expansion in Asia has likely increased since then. The Q1 news release even stats that sales are for sure going to be higher in Q2, so only positive notes going forward.

June 2016 Minneapolis Exhibit: http://www1.agric.gov.ab.ca/$Depart.../$FILE/2016apr_taste_of_canada_exhibitors.pdf
(SNF on Page 14)

March 2016 Article: http://www1.agric.gov.ab.ca/$Depart...ade11517/$FILE/export_catalogue_2016_web2.pdf
(SNF on Page 56)

From Q1 news release:

Sunora's Q1 2016 financial results were negatively impacted by a brief slowdown in demand from international customers due to economic restructuring, as China reorients from manufacturing to domestic consumption and from delays in shipments. International sales have trended upward in Q2, with expected additional sales during this period and beyond.


By mrduediligence

Posted: Tuesday Jun 7 6:57:11AM 2016

Some good volume this morning and SNF popped to an all time high of $0.175, highest since the IPO in 2014. Stock has been undervalued all year given it's large cash position, clean balance sheet, heavy insider ownership of 71% and world growth chart. Below is the level 2, not much for sale anymore.

LEVEL 2 QUOTE
Market Maker Shares Bid Price Ask Price Shares Market Maker
10,000 0.120 0.175 4,000
25,000 0.115 0.250 5,000
61,000 0.110 -- -- --
25,000 0.105 -- -- --
26,000 0.100 -- -- --
4,000 0.085 -- -- --
1,500 0.075 -- -- --
5,000 0.045 -- -- --
5,000 0.040 -- -- --
6,000 0.035 -- -- --


By mrduediligence

Posted: Monday May 30 2:39:49PM 2016

Sunora Foods Inc. Q1 2016 Results (Ending March 31st 2016)
NOTE: Keep in mind that Q4 2015 and Q1 2016 had some one time issues with regards to logistics, back-orders and currency fluctuations. Otherwise, as stated in the news today, Q2 results and beyond will be much better.
Price: $0.12
Common Shares: 42,254,332
Insider Holdings: 72% As per SEDI
Financial
Assets
Cash: $2,981,812 - $0.07c a share just in cash
Accounts Receivable: $989,160
Inventory: $607,523
Prepaid Expenses: $18,419
Deferred Tax: $147,974
Total Assets: $4,744,888

Liabilities
Accounts Payable: $936,008
Income Tax: $48,940
Customer Deposits: $63,734
Total Liabilities: $1,048,682

Q1 2016 Net Income: $24,871
2015 Total Net Income: $502,182
2014 Total Net Income: $189,073

Breakdown in sales distribution for Q1(in MD&A)
USA: $2,167,415 (Last year was $1,785,591) – Increase by $381,824
Canada: $235,713 (Last year was $275,451) – decrease by $39,738
International: $248,251 (Last year was $682,925 – Shipping issues for the quarter caused discrepancy)
MD&A Highlights

The $24,971 of net income and comprehensive income in the three months ended March 31, 2016 was lower than the same quarter of 2015. This was primarily as a result of a foreign exchange loss of $82,655, as opposed to a foreign exchange gained $131,013 in the prior year. In addition, sales were slightly lower, and the gross margin declined from the prior year as a result of delivery issues with a copacker.
Sunora's current assets consist of cash, accounts receivable, prepaid expenses and inventory. Cash is held for working capital requirements and to fund expansion costs for new markets and customers. A policy of conserving cash is rigorously followed by management in order to sustain operations and not hamper its marketing strategies. Accounts receivable is in a comparable range to that of December 31, 2015, due to continuing efforts by management to control the Company’s credit and collections. The increase in inventory is due to increased bulk oil purchases in anticipation of future sales.
Sunora's current liabilities consist of accounts payable and accrued liabilities, income tax payable and customer deposits. Accounts payable increased by $467,782 since December 31, 2015, due to increased bulk of oil purchases at the end of this quarter. Nevertheless, Sunora is committed to its policy to manage its trade payables on a current basis and maintain its excellent credit standing.
The Company's target Working Capital Ratio (Current Assets divided by Current Liabilities, which is an indicator of its ability to finance its on-going operations) is 2:1. Current Assets comprise cash, accounts receivable, prepaid expenses and inventory; current liabilities include accounts payable, accrued liabilities and income taxes payable. The amounts of accounts receivable, inventory and accounts payable and accrued liabilities at a point in time are the direct result of sales and purchases and how the Company manages collections, supplier credit and inventory levels, which in turn is manifested in the available cash. At March 31, 2016, the Working Capital Ratio has declined to 4.4:1 compared to 6.75:1 at December 31, 2015.The Company's business has been managed with a strong working capital position which has enabled the Company to operate without debt. Additionally, the current nature of Sunora's operations has enabled it to expand without making capital investments. Therefore, the Company believes it is in a very favourable position to expand in the future.
The Company operates in the single segment of food oil. Competition is always a significant factor in the food oil industry. The Company determines the geographic location of revenues based on the location of its customers. The geographic categories presented are the United States, Canada and Other; other comprises various regions in South America, Africa, Asia, the Middle East, Eastern Russia, Australia and New Zealand.
The Company had an economic dependence on one customer. During the three months ended March 31, 2016 and the three month period ended March 31, 2015, sales to this customer represented approximately 21% and 13% of the Company's total sales, respectively. Sunora's sales to the United States have recently trended higher in proportion of sales in Canada. Overseas markets are generally continuing to grow and provide greater long term stability to sales. The growth of sales in emerging markets, where awareness of healthy food choices is growing as a result of the expanding middle classes, is a positive trend for Sunora.
Cost of sales consists of purchases of crude and refined oil, freight and custom duties. Sunora achieved a gross margin of 9.4 % in the three months ended March 31, 2016, which varied due to delivery issues with co- packers, compared to 11% in the three months ended March 31, 2015. These margins were within an expected range.
Outlook

Sunora maintains strong relationships with strategically located customers in North America and overseas. 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 the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations are impacted by geopolitical situations that may hold up deliveries as was experienced in the last quarter of 2015. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.
Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations. Management is also actively considering possible new products that may benefit from new domestic and international markets. With the continuing improvement in the United States economy and new customers being added in Asia Sunora is well placed to improve its profitability and financial position.

By mrduediligence

Posted: Monday May 30 1:13:01PM 2016

Sunora Q1 summary news release below. It was a profitable quarter, but as I was told by management after year end, Q4/Q1 was affected by some issues in China. However, this has been resolved and as mentioned in the news below, Q2 will be better for sure. Cash & equivalents still went up $360,000 since December 2015 which is huge. I will be posting the breakdown shortly.
 
Sunora Foods earns $24,971 in Q1 2016
 
2016-05-30 13:51 MT - News Release
Mr. Steve Bank reports
SUNORA FOODS ANNOUNCES QUARTER 1 FINANCIAL RESULTS
Sunora Foods Inc. has filed its financials statements and management discussion and analysis for the fiscal period ending March 31, 2016. These filings are available for review on SEDAR and the corporation's website.
During the fiscal period ended March 31, 2016, Sunora's highlights include the following:
  • Net Income of $24,971 for the period ending March 31, 2016, versus net income of $240,236 for the comparable period ending March 31, 2015 (primarily the result of foreign exchange losses during Q1 2016 versus a foreign exchange gain during Q1 2015);
  • Gross margin of 9.4 per cent for the period ending March 31, 2016, versus gross margin for the comparable period ending March 31, 2015, of 11.1 per cent;
  • Revenue of $2,687,379 for Q1 2016 versus revenue of $2,743,967 for Q1 2015;
  • Cash and cash equivalents of $2,981,812 for the period ending March 31, 2016, versus $2,620,566 at the end of Dec. 31, 2015.
  • Continuing focus on expanding international sales with emphasis on China and Southeast Asia.
                     FINANCIAL HIGHLIGHTS
 
                          Period ending March 31, 2016
Sales                                 $      2,687,379                 
Gross margin                                   252,422                   
Income before taxes                             33,295                     
Net income                                      24,971                     
Earnings per share                                0.00                       
Sunora's Q1 2016 financial results were negatively impacted by a brief slowdown in demand from international customers due to economic restructuring, as China reorients from manufacturing to domestic consumption and from delays in shipments. International sales have trended upward in Q2, with expected additional sales during this period and beyond.
© 2016 Canjex Publishing Ltd. All rights reserved.

By mrduediligence

Posted: Monday May 2 5:47:04AM 2016

Sunora Foods Inc. Year End Results (December 31, 2015)

Price: $0.12
Common Shares: 42,254,332
Insider Holdings: 31 million (73% as per Sedi)
April 2016 Presentation: http://www.sunora.com/assets/docs/ppt/sunora-foods-ppt-apr-2016-20160429102019.pdf
February 2016 Radio interview:  http://thestockradio.com/tsr-audio-interview-steve-bank-ceo-of-sunora-foods-tsx-v-snf-2630.html

Financials

Assets
Cash: $2,620,566 (2014 - $1,784,147)
Accounts Receivable: $920,001
Inventory: $497,798
Prepaid Expenses: $32,826
Deferred Tax Asset: $147,974
Total Assets: $4,219,165 (2014 - $4,139,409)

Liabilities
Accounts Payable: $468,226
Income Tax: $66,638
Customer Deposits: $13,066
Total Liabilities: $547,930 (2014 - $1,072,936)

2015 Sales
Revenue: $10,815,959
Gross Margin: $1,157,932
Net Income: $502,182

MD&A Highlights

The $502,182 of net income and comprehensive income in the year ended December 31, 2015 compared to $189,073 for the previous year – an increase of 166%, was due to an increase in the average gross margin of 3.7% despite a drop in sales of 18%. These stronger gross margins can be attributed to a higher percentage of sales in packaged products which have higher value added. Another factor that contributed positively to the net income and comprehensive income was foreign exchange gains associated with a weaker Canadian dollar.


Sunora's current assets consist of cash, term deposits, accounts receivable, prepaid expenses and inventory. Cash is held for working capital requirements and to fund expansion costs for new markets and customers. A policy of conserving cash is rigorously followed by management in order to sustain operations and not hamper its marketing strategies. Accounts receivable was reduced due to reduced sales and continuing efforts by management to improve the Company’s collections. The decrease in inventories was due to changes in customer demand and stronger controls.

Sunora maintains strong relationships with strategically located customersin North America and overseas. 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 the economies in Asia, with a view to meet this increased demand for Canadian manufactured food oil products. Sunora’s operations are impacted by geopolitical situations that may hold up deliveries as was experienced in the fourth quarter of 2015. As the middle class in these emerging economies demands higher quality and healthier foods, Sunora is well positioned to meet additional demand.

Management is actively identifying and analyzing operations that might increase gross margins for the Company. Prospective businesses considered include packagers and suppliers in the food oil industry. With each operation identified, a detailed review and analysis is undertaken by management. Specific focus is currently on packagers with operations in Canada that are looking for a strategic partner to expand international operations.

The financial position of the Company is strong relative to its financial requirements and commitments. Management maintains a conservative approach to day-to-day operations, monitoring the timing of its inventory turnover and meeting its obligations to suppliers within their credit facilities. Collections from customers were stringently managed as that substantially all receivables at December 31, 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 $2,620,566 at December 31, 2015, Sunora's Current Ratio at December 31, 2015 was 7.4:1. 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.


By mrduediligence

Posted: Friday Apr 29 7:17:39PM 2016

New company presentation out today: http://www.sunora.com/assets/docs/ppt/sunora-foods-ppt-apr-2016-20160429102019.pdf


By mrduediligence

Posted: Friday Apr 29 6:31:18AM 2016

Sunora Foods earns $502,182 in 2015

2016-04-29 07:08 MT - News Release

Mr. Steve Bank reports

SUNORA FOODS ANNOUNCES 2015 YEAR END FINANCIAL RESULTS

Sunora Foods Inc. has filed its financials statements and management discussion and analysis for the fiscal year ending Dec. 31, 2015. These filings are available for review on SEDAR and the corporation's website.

During the fiscal year ended Dec. 31, 2015, Sunora's highlights include the following:

 

  • Net income for the period ending Dec. 31, 2015, of $502,182 versus net income of $189,073 for the comparable period ending Dec. 31, 2014; an increase of 166 per cent.
  • Gross margin for the period ending Dec. 31, 2015, of 10.7 per cent versus gross margin for the comparable period ending Dec. 31, 2014, of 7.0 per cent;
  • Revenue of $10,815,959 for the 2015 fiscal year versus revenue of $13,235,038 for the comparable 2014 fiscal year;
  • Cash and cash equivalents of $2,620,566 for the period ending Dec. 31, 2015, versus $1,784,147 for the comparable period ending Dec. 31, 2014;
  • Appointment of Shawn Li to the position of manager, Asia;
  • Appointment of Eric Dahlberg to the board of directors;
  • Expansion of Sunora's portfolio of canola products into China;
  • Agreement with major Asian trading partner for Sunora's portfolio of food oil products.
 
   FINANCIAL HIGHLIGHTS
  Period ending Dec. 31, 2015

Sales                 $10,815,959                    
Gross margin           $1,157,932                     
Income before taxes      $661,082                       
Net income               $502,182                       
Earnings per share         $0.012                         

© 2016 Canjex Publishing Ltd. All rights reserved.


By mrduediligence

Posted: Thursday Apr 14 6:36:21AM 2016

Sunora Foods investor Shanghai acquires 19% interest

2016-04-14 05:16 MT - News Release

Mr. Steve Bank reports

EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103

In accordance with regulatory requirements, Shanghai Hao Zhuo International Trading Ltd., a company based out of Shanghai, China, has acquired 8,028,400 common shares of the corporation from Steve Bank, president and chief executive officer of the company, on April 13, 2016, which represents 19 per cent of the outstanding common shares. Prior to the purchase, Shanghai owned no common shares of the corporation.

The securities acquired by Shanghai are held for investment purposes. In the future, Shanghai may increase or decrease its respective ownership of securities of the corporation from time to time depending upon the business and future market conditions.

A copy of the early warning report filed pursuant to National Instrument 62-103 may be obtained on SEDAR.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

NOTE:

Insiders still own the following that is disclosed:

CEO Steve - 22 million
Direct Daniel - 1 million
Director Michael - 1 million
Shanghai - 8 million

There are also some other small shareholders listed on SEDI. Q4 will be out in two weeks and Q1 2016 in six weeks. If two more positive quarters are out, that will be several positive earnings reports and the price should rise significantly.


By mrduediligence

Posted: Thursday Feb 11 2:36:11PM 2016

By mrduediligence

Posted: Tuesday Jan 12 6:57:52PM 2016

Sunora Foods Inc. December 2015 Company Presentation: http://www.sunora.com/assets/docs/ppt/sunora-foods-ppt-dec-2015-20151231095233.pdf

Note: In my initial DD, I added up almost 76% insider/institutional ownership based on SEDI. This information could be outdated on SEDI as the presentation shows 71%.


By mrduediligence

Posted: Monday Jan 11 8:32:58AM 2016

Your very welcome. I think you made a good call not buying in after the merger. It's hard to tell where a company will go right from the start. But now SNF has almost 2 years worth of earnings to show where it's going and the price is less than the $0.16c you were offered. The CEO still has 30 million shares at that price which is good. So the actual float is much smaller than it looks. Doesn't look like there's much left at these prices and another profitable quarter should solidify the stock price back into the high teens, low twenties, depending on eps for Q4.


By dquinton

Posted: Friday Jan 8 12:22:36PM 2016

I went and saw the new management team of Sunora in early 2013 before the merger was completed.  I liked what they were doing but based on the financials I told them we weren't interested in the $0.16 range as I felt that their market capitalization would be supported by the projected pro-forma numbers.  Three years later it looks like financials are starting to make a little more sense from a fundamental perspective so I will take another look.  Thank you for your informational post. 


By mrduediligence

Posted: Friday Jan 8 10:30:22AM 2016

Sunora Foods Inc. Two year sales History

Originally this was a capital pool (Thoroughbred Capital Inc, symbol TBC.P), until a deal was struck April 10th 2013 to acquire Sunora Foods Inc for 30 million shares at a price of $0.167c per share($5 million)

First financials after the merger were released April 30th 2014, below are all the quarters broken down

Year end: August 31st, 2013
Cash: $836,292
Total Assets: $3,000,464
Total Liabilities: $1,014,299
Revenue: $15,498,660
Net Income/Loss: $79,418 - $0.0019c

Quarter Ended: December 31st, 2013
Cash: $ 1,646,563
Total Assets: $ 3,848,337
Total Liabilities: $ 1,016,838
Revenue: $ 4,794,330
Net Income/Loss:  -$1,074,649 – ($1.25 million cost for listing expense and transaction cost)

Quarter Ended: March 31st, 2014
Cash: $ 1,757,907
Total Assets: $ 3,739,165
Total Liabilities: $ 920,557
Revenue: $ 2,959,727
Net Income/Loss: -$58,792 – due to some oil pricing and shipping issues(see MD&A)

Quarter Ended: June 30th, 2014
Cash: $ 1,685,719
Total Assets: $ 3,610,622
Total Liabilities: $ 670,434
Revenue: $ 2,836,903
Net Income/Loss: $ 121,580 - $0.003c

Quarter Ended: September 30th, 2014
Cash: $ 2,358,141
Total Assets: $ 4,442,591
Total Liabilities: $ 1,362,255
Revenue: $ 3,496,856
Net Income/Loss: $ 140,148 - $0.0033c

Quarter Ended: December 31st, 2014

Cash: $ 1,784,147
Total Assets: $ 4,139,409 
Total Liabilities: $ 1,072,936 
Revenue: $ 3,941,719 
Net Income/Loss: $ -13,696 –  flat due to added G&A marketing cost into other countries (see MD&A)

Quarter Ended: March 31st, 2015
Cash: $ 2,375.580
Total Assets: $ 4,494,917
Total Liabilities: $ 1,188,206
Revenue: $ 2,743,967
Net Income/Loss: $ 240,238 - $0.0053c

Quarter Ended: June 30th 2015
Cash: $ 2,504,091
Total Assets: $ 4,168,457
Total Liabilities: $ 750,806
Revenue: $ 3,233,996
Net Income/Loss: $ 110,940 - $0.0026

Quarter Ended: September 30th, 2015
Cash: $ 2,752,139
Total Assets: $ 4,556,526
Total Liabilities: $ 940,104
Revenue: $ 2,451,477
Net Income/Loss: $ 198,771 - $0.0047c

As you can clearly see from the financials, SNF has more than tripled its cash position over the last couple years, increased assets by 50%, decreased liabilities, and started to establish itself in news markets in Asia. Several news releases were announced in 2015 with regards to an expansion plan and we will likely see the benefits of this in 2016. 


By mrduediligence

Posted: Wednesday Jan 6 9:39:57AM 2016

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)
website: http://www.sunora.com/

Most Recent Financial Results (Ending September 30th 2015)

Assets
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

Liabilities
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.  


Canadian Small Caps

 
Canadian Small Caps

CLICK HERE to view the presentations from the Spring 2016 Small-Cap Conferences.

We are pleased to publish the PowerPoint presentations from The Small-Cap Conferences that were held in Calgary on March 30, 2016 and in Vancouver on May 3, 2016.

We encourage investors to review the presentations and contact the companies with any further questions.

www.smallcapconference.ca/presentations.php
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