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Forum - Mining and Commodities Eh! (ARMADA DATA CORP - ARD.V)    All things commodities, with a Canadian Junior Miner focus.

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From: Jimjones1972 (Rep: 0) reply to Jimjones1972Date: 10/27/2016 18:20
Forum: Mining and Commodities Eh! - Msg #5678 - List ARD.V msgs Thread #673793120 (Rec: 0)
Armada Data earns $144,853 in fiscal Q1 2017


2016-10-27 13:38 MT - News Release


Mr. James Matthews reports

ARMADA ANNOUNCES Q1 2017 RESULTS

Armada Data Corp. has released its interim financial results for the quarter ended Aug. 31, 2016. The results have been filed on SEDAR and are available for viewing on the company's website, as well as on the SEDAR website.


SELECTED QUARTERLY INFORMATION

Fiscal year 2017 2016 2016 2016 2016 2015 2015 2015
Quarter ended Aug. 31, May 31, Feb. 29, Nov. 30, Aug. 31, May 31, Feb. 28, Nov. 30,
2016 2016 2016 2015 2015 2015 2015 2014

Total revenue $ 587,134 $ 661,263 $ 522,663 $ 545,409 $ 528,853 $ 463,056 $ 466,797 $ 526,884
Comprehensive income (loss) 144,853 97,589 81,419 34,364 70,175 (505,629) (52,028) (71,214)
Comprehensive income (loss)
per share 0.01 0.01 0.00 0.00 0.00 (0.03) 0.00 0.00

The prior periods' comparative figures have been reclassified where necessary, to conform to the current period's presentation.

Operations

The company's total sales increased by 11 per cent in the quarter ended Aug. 31, 2016, from $528,853 in 2015, to $587,134. Comprehensive income increased from $70,175 in the period ended Aug. 31, 2015, to $144,853 in the period ended Aug. 31, 2016.

The insurance services division experienced a 32-per-cent increase in revenue, from $239,927 in 2015 to $316,500 in 2016. This is a continuing result of the fires in Fort McMurray and expanding upon existing customer relationships, mergers and acquisitions within the Canadian insurance company landscape, and policy-driven mandates within insurance companies to use the Armada insurance services replacement value settlement protocol.

The retail services division revenue was down 17 per cent to $52,275 in 2016, from $62,875 in 2015.

The dealer services division revenue decreased 12 per cent, from $179,571 in 2015 to $157,770 in 2016.

The advertising/marketing services division, which derives its revenue from the sale of on-line third party advertising on the Car Cost Canada and The Car Magazine websites, increased from $27,088 to $28,580, or 6 per cent.

The information technology division revenue increased 65 per cent to $32,009 in 2016, up from $19,392 in 2015. IT continues to offer technical support and website hosting to hundreds of customers, and to develop new customer relationships on a regular basis.

Total expenses before amortization decreased to $432,503, compared with $447,913, a 3-per-cent decrease over last year. This is attributed to ceasing production at Mister Beer Inc. and continued cost-cutting measures implemented by management.

Cash on hand increased from $115,573 as at Aug. 31, 2015, to $256,580 as at Aug. 31, 2016.

Accounts receivable increased by 81 per cent, or $498,019, as at Aug. 31, 2016, compared with $275,514 last year. Related party accounts receivable decreased from $8,484 to $6,340.

Accounts payable decreased to $205,680 as at Aug. 31, 2016, from $225,605 a year earlier. Related party accounts payable decreased to zero as at Aug. 31, 2016, from $1,017 last year.

The company's deficit decreased to $1,406,416 as at Aug. 31, 2016, compared with a deficit of $1,764,641 last year.

Management does not plan on issuing any dividends until further notice.

Revenues earned by the divisions are shown in the attached table.


Three months ended Three months ended Year ended
Aug. 31, 2016 Aug. 31, 2015 May 31, 2016

Insurance services $ 316,500 $ 239,927 $ 1,108,745
Retail services 52,275 62,875 227,038
Dealer services 157,770 179,571 660,540
Internet technology 32,009 19,392 121,289
Advertising/marketing services 28,580 27,088 74,624
------- ------- ---------
Total revenue -- Armada Data Corp. 587,134 528,853 2,192,236
======= ======= =========
Revenue -- Mister Beer Inc. - - 17,578
Less: direct product costs/wages
-- Mister Beer Inc. - - 48,374
Total revenue -- Mister Beer Inc. - - 65,952
------- ------- ---------
Total consolidated revenue 587,134 528,853 2,258,188
======= ======= =========
Related party transactions

Salaries and expenses are paid to an officer of the company, who is also a 50-per-cent shareholder of Lease Busters Inc. Office space is rented from Lease Busters. Legal fees are paid to a law firm, of which a partner is a non-remunerated director of the company. Financing was acquired from a company owned by a director of Armada, and interest is paid to this company on a monthly basis. All of the actual costs noted in this section are paid at fair market value in the normal course of business.

© 2016 Canjex Publishing Ltd. All rights reserved.

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Reply to Jimjones1972 - Msg #5677 - 10/27/2016 14:32

Armada Data Corporation Q1 Results (Ending August 31, 2016) Financial + MD&A Highlights

Price: $0.13
Common Shares: 17,670,265
Options/Warrants: 0
Insider Holdings: 50% (As per information circular)

Balance Sheet & Income

ASSETS
Cash: $256,580
Accounts Receivable: $498,019
Party Receivable: $6,340
Prepaid Expenses: $39,476
Property & Equipment: $64,776
Goodwill: $180,000
Total Assets: $1,045,191 ($762,100 – 2015)

LIABILITIES
Accounts Payable: $205,680
Corporate Income Tax: ($7,600)
Deferred Revenue: $70,000
Notes Payable: $278,000
Total Liabilities: $546,080 ($621,214 – 2015)

Q1 Results(3 Months)
Total Revenue: $587,134
Net Income: $144,583

2015 Year End Results
Total Revenue: $2,258,188
Net Income: $283,547

MD&A Highlights

The Company’s total sales increased by 11% in the quarter ended August 31, 2016, from $528,853 in 2015, to $587,134. Comprehensive income increased from $70,175 in the period ended August 31, 2015 to $144,853 in the period ended August 31, 2016.

The Insurance Services division experienced a 32% increase in revenue, from $239,927 in 2015 to $316,500 in 2016. This is a continuing result of the fires in Fort McMurray and expanding upon existing customer relationships, mergers and acquisitions within the Canadian insurance company landscape and policy driven mandates within insurance companies to use the Armada Insurance Services replacement value settlement protocol.

The Retail Services division revenue was down 17% to $52,275 in 2016 from $62,875 in 2015.

The Dealer Services division revenue decreased 12%, from $179,571 in 2015, to $157,770 in 2016.

The Advertising/Marketing Services division, which derives its revenue from the sale of online third party advertising on CarCostCanada.com and TheCarMagazine.com, increased from $27,088 to $28,580, or 6%.

The Information Technology division revenue increased 65% to $32,009 in 2016, up from $19,392 in 2015. IT continues to offer technical support and web site hosting to hundreds of customers, and to develop new customer relationships on a regular basis.

Total expenses before amortization decreased to $432,503, compared to $447,913, a 3% decrease over last year. This is attributed to ceasing production at Mister Beer Inc. and continued cost-cutting measures implemented by management.

Cash on hand increased from $115,573 as at August 31, 2015 to $256,580 as at August 31, 2016. Accounts receivable increased by 81%, $498,019 as at August 31, 2016, compared to $275,514 last year. Related party accounts receivable decreased from $8,484 to $6,340. Accounts payable decreased to $205,680 as at August 31, 2016 from $225,605 a year earlier. Related party accounts payable decreased to $nil as at August 31, 2016, from $1,017 last year.

Based on a cash position of $256,580, accounts receivable of $498,019, accounts payable of $205,680, and current notes payable of $278,000, management feels that the Company is in a good position to meet all current and foreseeable financial obligations. With the closing of the Mister Beer production facility, expenses have been reduced. The other divisions of Armada are poised for revenue gains this fiscal year as a result of new project and feature launches as well as more than one significant partnership that the Insurance and Retail Service teams are working on. Management believes that the data divisions will not only remain very stable and profitable but begin to make significant inroads in new verticals that will result from our partnerships, project releases and new revenue streams.
The Company’s outlook is to continue to increase sales, update and improve our data services products and services, and deliver significantly better results to our shareholders by way of the following:
1. Build on the historical success of the Company’s ongoing sales and marketing efforts focused on increasing sales at Retail Services, Dealer Services and Insurance Services.
2. Exploit market awareness and demand for new vehicle pricing information and dealer referrals that result from the additional competition within that market space; by putting more emphasis on outside partners, data outsourcing and our underutilized online magazine TheCarMagazine.com
3. Continue to improve our relationships with some of the largest insurance companies in Canada and partner with some of these organizations to produce new products and services for their vast client base.
4. Maintain operating expenses and achieve the economies of scales of an Internet based business.
5. Expand third-party fee-based online advertising, by developing improved and more secure advertising methods.
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