Siyata Mobile Inc. (SIM:TSX-V) - August 31st 2015
Siyata Mobile Inc. develops, manufactures, and sells vehicle mounted communication systems and devices that utilize mobile networks. Siyata�s �connected-vehicle� devices and accessories are specifically designed for professional mobile business fleets made up of vehicles such as transport trucks, vans, buses, ambulances, police cars, fire trucks, taxis, trains and government vehicles.
In July 2015, Siyata Mobile reported record sales of more than $5 million for the first half of 2015. The company�s sales have grown from $3.9 million in 2012 to $7.4 million in 2014 and are now on track to reach a forecast $12 million in 2015. Internal sales forecasts for 2016 are around $18 million. Revenues are currently generated 80% from Israel but this is expected to change significantly with the penetration of the Canadian market in 2015 and the U.S. market in 2016. Management states that Siyata is profitable at 2015 expected revenues of $12 million, but we have yet to see a full quarter of consolidated financials.