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SSA.V - Spectra Inc.



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By mrduediligence

Posted: Saturday Nov 11 4:38:02PM 2017

Director Glen Campbell was the buyer of the 500,000 shares at $0.025. 


https://www.canadianinsider.com/company?menu_tickersearch=SSA%20%7C%20Spectra

Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction Volume or Value Price
Nov 10/17 Nov 8/17 Campbell, Glen Direct Ownership Common Shares 10 - Acquisition in the public market 500,000 $0.025


By mrduediligence

Posted: Thursday Nov 9 2:35:57PM 2017

First time I've come across this document. It tells you all about DVOF and all their holdings. Spectra makes up 2.3% of their fund and they own common shares, debentures and preferred shares in both the holding company and subsidiary. This means that DVOF is very intertwined with Spectra Inc and must see it workout for the sake of their investors. 

http://docmgt.dynamic.ca/documentdownload/getdocument/606


Page 8, 10, 11, 13 has information on Spectra. DVOF slightly increased their position in the subsidiary year over year.


By mrduediligence

Posted: Thursday Nov 9 7:49:04AM 2017

SSA.V - Spectra Inc. Q3 Results (Financials + MD&A)
Ending September 30th 2017


Current Stock Price: $0.025
Common Shares: 60,509,971
Insider Holdings: 6,355,591 or 10.5%
Institutional Holdings: 18,133,000 or 30% - DVOF Debenture Holder


ASSETS
Cash: $145,467
Accounts Receivable: $200,840
Inventories: $162,585
Prepaid Expenses: $17,862
Equipment: $2,072
Total Assets: $528,826 


LIABILITIES
Accounts Payable: $123,630
Royalty Debenture: $625,475 (Owed To DVOF)
Convertible Debenture: $568,131 (Owed To DVOF, Due August 2019)
Total Liabilities: $1,407,246 


Sales By Region For 2017(Q1-Q3)
Canada: $708,782 (Last Year - $793,476)
China: $28,894 (Last Year - $0)
United States: $594,916 (Last Year - $413,175)
Total Sales: $1,332,592 (Last Year - $1,206,651)


Revenue/Profit Over Last Four Years
2014 - $1,440,000 - $45,000
2015 - $1,820,000 - $189,000
2016 - $1,550,000 - $152,000
2017 - $1,333,000 - $191,000 (9 Months Only, Q4 Out In March 2018)


In 2017, the Company derived 45% (2016 – 34%) of its revenue from sales to the United States and 2% of its sales from China (2016 – 0%). The Company’s equipment is located in Canada.


In 2017, the Company derived sales from three customers amounting to 53% of the total sales revenue (2016 – three customers amounting to 38% of the total revenue).


MD&A Highlights


Capital Disclosures
The Company’s capital structure is comprised of interest bearing debt, a royalty debenture and shareholders’ deficiency. There are no restrictions on the Company’s capital. In order to maintain and adjust its capital structure, the Company may issue share capital, issue new debt and refinance existing debt.


Three months ended September 30, 2017
Revenue for the three months ended September 30, 2017 increased by 26 percent to $432,186 compared to revenue of $342,034 for the three-month period ended September 30, 2016. The increase in revenue is attributable to increases in sales of Termin-8r® from $121,566 to $138,882; Brake Safe® from $141,749 to $193,172; Zafety Lug Lock® from $36,156 to $63,035; and Hub Alert® from $4,788 to $5,248; offset by decreases in sales of Brake Inspector® from $8,843 to $2,244; Arrow Logger® from $888 to $361 and sundry income from $29,820 to $29,244.


Nine months ended September 30, 2017
Revenue for the nine months ended September 30, 2017 increased by 10 percent to $1,332,592 compared to revenue of $1,206,651 for the nine-month period ended September 30, 2016. The increase in revenue is attributable to increases in sales of Termin-8r® from $370,212 to $424,223; Brake Safe® from $539,762 to $583,496; Zafety Lug Lock® from $142,217 to $158,983; Hub Alert® from $18,474 to $23,253; and sundry income from $96,001 to $121,389; offset by decreases in sales of Brake Inspector® from $37,609 to $19,603 and Arrow Logger® from $2,376 to $1,645.


Gross Profit:
Three months ended September 30, 2017
Gross profit increased by $11,822 for the three months ended September 30, 2017 to $224,690 or 52 percent of revenue from a comparable $212,868 or 62 percent of revenue for the three months ended September 30, 2016. 


OUTLOOK
The Company continues to focus its efforts on expanding the present market for its products while introducing those products into new markets. As well the Company is seeking out new product to complement other wheel end safety products, Brake Safe®, Hub Alert® and Zafety Lug Lock®


Spectra Products Inc. is the only company in North America that provides one stop shopping for wheel end safety products in the transportation industry. Brake Safe® addresses the number one out of service violation in North America during road side inspections being brakes out of adjustment. Zafety Lug Lock® and Hub Alert® address the very serious wheel off situation of trucks and trailer losing a wheel and impacting another vehicle causing major damage or potentially causing fatalities.


The Company’s Brake Safe® product is well established in the Canadian market and as previously reported Spectra Products Inc. is executing its strategy to expand its Brake Safe® visual brake stroke indicator and diagnostic tool into the lucrative U.S. Transportation Industry. The brake violation issues are receiving a tremendous amount of attention from U.S. media as well as increased enforcement resulting in vehicles being put out of service and affecting Fleet safety records. This growing awareness is having a very positive impact on sales of Brake Safe® in the U.S. market.


The Company’s Termin-8r®product continues to receive strong industry acceptance with a corresponding growth in sales to the transportation segment. The second private label arrangement, introduced in 2010 for a major supplier to the commercial transport industry, is proving to be a strong performer with 2017 private label sales, by dollar amount, now being 81% of total Termin-8r®product sales compared to 71% of total sales during the same period in 2016.


By mrduediligence

Posted: Wednesday Nov 8 7:55:10PM 2017

Huge insider buying today, almost 1% of the common shares:

https://app.tmxmoney.com/research/insidertradesummaries?locale=EN


By mrduediligence

Posted: Wednesday Nov 8 9:01:45AM 2017

Spectra Inc. Reports Third Quarter 2017 Results


For Immediate Release – November 8, 2017


Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of its financial results for the first nine months of 2017. Revenues for the nine-month period ending September 30, 2017 were $1,332,592 compared to $1,206,651 for the same period in 2016. Revenues for the third quarter ending September 30, 2017 were $432,186 compared to $342,034 in 2016.


The third quarter ended September 30, 2017 showed a net profit of $56,809 compared to a net profit of $16,360 for the third quarter ended September 30, 2016.


During the nine-month period ended September 30, 2017, a net profit of $190,424 was
achieved compared to a net profit of $94,115 for the nine-month period ended September 30, 2016.


Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North
American designer, manufacturer and distributor of Brake SafeÒ, the visual brake stroke indicating system, Brake InspectorÒ, the company’s electronic in-cab air brake diagnostic system and the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants.


Spectra manufacturers and distributes the new Arrow Logger™ brake stroke data logger that has been designed to enhance the performance of the Brake Safe® system. Spectra distributes Zafety Lug LockÒ, a lug nut retainer that uses the resistance between wheel nuts to minimize their ability to rotate and loosen, reducing the risk of wheel damage or wheel loss and Hub Alert™, an innovative heat sensing label that provides an alert for overheating wheel ends, reducing the risk of bearing failure and corresponding maintenance and repair costs.


Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of
competitive products and pricing and general economic conditions as they affect the
Corporation’s customers. Actual results and developments may therefore differ
materially from those described in this release.


On behalf of the Board of Directors,
Glen Campbell, Chairman, Spectra Inc.
Investor Relations: 1-800-308-5255
E-Mail: info@spectrainc.ca
Website: www.spectrainc.ca


By mrduediligence

Posted: Thursday Nov 2 8:18:29AM 2017

Spectra Inc. (SSA.V) Due Diligence Report

 

Current Stock Price: $0.03

Common Shares: 60,509,971

Insider Holdings: 6,355,591 or 10.5%

Institutional Holdings: 18,133,000 or 30% - DVOF Debenture Holder

 

Key Notes For 2017:
- March News: Director Michael Faye left saving the company $90,000 in expenses

- DVOF interest of $187,500 extinguished (see March year end results)

- New US customer signed with over 250 locations (see July MD&A)

- Spectra Inc. total revenue, net income, asset/debt ratio at it’s best since inception

- Q3 2017 Results will be released Mid-End of November

- Specta Inc. CEO is paid on a commission structure rather than salary

 

Revenue/Profit Over Last Four Years

 

2014 - $1,440,000 - $45,000

2015 - $1,820,000 - $189,000

2016 - $1,550,000 - $152,000

2017 - $901,000 - $134,000 (Only 6 months and before new US deal)

 

Most Recent Financials + MD&A

 

ASSETS

Cash: $116,009

Accounts Receivable: $225,784

Inventory: $155,070

Prepaid Expenses: $13,494

Equipment: $4,145

Total Assets: $514,502

 

LIABILITIES

Accounts Payable: $119,668

Loans Payable: $50,000

Royalty Debenture: $621,922 (owed to DVOF)

Convertible Debenture: $658,141 (owed to DVOF, due August 2019)

Total Liabilities: $1449,731

 

SSA Most Recent Quarter Breakdown

Sales: $461,673

Gross Profit: $269,894

Net Income: $78,709

 

Additional Note:

DVOF has worked with Spectra since 2004 and obviously does see value in the company going forward, especially over the last few years with growing sales and profitable quarters. The reason for their leniency is because DVOF knows there is a larger gain coming from share appreciation and sale down the road compared to making 6-7% interest on their debentures which is true. In the end, based on Spectra’s latest sales, they should be able to pay back DVOF their principal and give that fund a higher value for their shares. But in order for DVOF to sell, they will need to find one larger buyer or Spectra will need to sell itself to another company.

 

 MD&A Company Highlights

 

About Spectra Inc:

Spectra Inc., (the “Company”), through its wholly owned subsidiary, Spectra Products Inc., supplies products to the transportation industry. The current product line includes a visual brake stroke indicator, Brake Safe®, that permits vehicle drivers and maintenance personnel to visually determine the brake adjustment condition of a truck, trailer or bus equipped with an air activated brake system. The Company’s electronic version of Brake Safe® is an air brake diagnostic system called Brake Inspector®. This product provides an in-cab display of air brake status and permits diagnosis of various existing and potential brake problems with the foundation brakes of trucks, trailers and buses. The Company also supplies an anticorrosion lubricant called Termin-8r® to the transportation industry and Zafety Lug Lock® a product that prevents wheel-end lug nuts from loosening leading to wheel damage or wheel loss. The Company’s product includes Hub Alert® a heat sensitive label that is applied to each wheel hub of trucks, trailers, buses and off road vehicles to provide an early warning of critical temperature threshold levels where safety and maintenance issues may be pending. The Company introduced in the fourth quarter of 2014 a new product, the Arrow Logger™. This system is designed to work in conjunction with the Brake Safe® product by providing enhanced brake monitoring.

 

The Company continues to focus its efforts on expanding the present market for its products while introducing those products into new markets as well as seeking out new products to complement our other offerings. The Company will continue to form strategic distribution alliances to accelerate its sales outside the Canadian marketplace. The Company recently signed a new distributor in the US that has over 250 locations and has access to a large fleet customer base.

 

 

The Company is marginally exposed to foreign currency fluctuations as certain revenues and expenses derived from sales activities in the United States and China are denominated in U.S. dollars. As at June 30, 2017, the Company had $95,344 of net current assets denominated in U.S. dollars. The Company’s sensitivity to foreign currency fluctuations is such that a 10% strengthening or weakening of the U.S. dollar would result in an $9,534 decrease or increase, respectively, to the Company’s loss before income taxes for the six months ended June 30, 2017.

 

Revenue for the six months ended June 30, 2017 increased by 4 percent to $900,406 compared to revenue of $864,617 for the six-month period ended June 30, 2016. The increase in revenue is attributable to increases in sales of Termin-8r® from $248,646 to $285,341; Hub Alert® from $13,686 to $18,005; and sundry income from $66,181 to $92,145; offset by decreases in sales of Brake Safe® from $398,013 to $390,324; Zafety Lug Lock® from $106,061 to $95,948; Brake Inspector® from $28,766 to $17,359 and Arrow Logger™ from $3,264 to $1,284.

 

 

 

 

 


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