QIS Update #21 - 2016 - NTG Clarity Networks receives over $1 million in new contracts - November 2nd 2016
Included in this update:
- - NTG Clarity receives over $1.0 million in new purchase orders and letters of intent
With two months left in 2016, it’s been another challenging year for the most part in small-cap stocks. There have been a few stories with some momentum but many of the long-time stocks we have been following have languished throughout much of the year. We are currently looking into several new companies and hope to have some new reports out over the next month.
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NTG Clarity Networks Inc. (NCI:TSX-V)
Current Price: $0.09 (coverage commenced Feb. 4/10 - $0.045)
NTG Clarity Networks Inc. (TSX.V:NCI), is pleased to announce that the Company has received several Purchase Orders and Letters of Intent from new and existing customers.
- LOI from a new customer in the Gulf area, for the implementation of NTG Clarity's Smart Building technologies. This solution encompasses the latest innovations in Networking, Security CCTV, Access Control, Public Address Audio Visual, IPTV, Queuing and Nurse Call Systems. The value of this 5-month project is estimated to be $725,000.
- A PO from a government agency to provide resources and support services for a 6-month period. This project is estimated to be $250,000.
- A PO from a major system integrator to provide three resources for quality assurance work. The project for this new customer is estimated to be $100,000.
"We are beginning to observe positive signs of economic stabilization in the Gulf region. These new orders validate our strategy of retaining our regional resources base and we expect to see continued growth from various sectors across the Gulf for the remainder of 2016 and into 2017. " said Ashraf Zaghloul, NTG Clarity’s Chairman and CEO.
In an unrelated matter, the Company announced that 100,000 share options will be issued for each member of the Board of Directors for the Company; Ashraf Zaghloul, M. Adel Zaghloul, M. Zafar Farooqui, Sinclair Stevens, Kristine Lewis and Nick Hamilton-Piercy. An additional 50,000 options will be issued to each of the managing directors; Ashraf Zaghloul, M. Adel Zaghloul and Kristine Lewis. Each option will be exercisable at a price of $0.10 per share and will be to replace expired options.
QIS Capital: More contract announcements from NTG Clarity is a welcome sign to the investment community as the company needs to boost revenues to offset expansion costs incurred over the last 12 months. The next quarterly financial results are expected to be released in late November and as a result of continuing cost budget measures, should continue the trend of improving the bottom line. NTG Clarity continues to work on a number of proposals to accelerate new orders.
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