|SNF Yearly Revenue/Profit Comparison From 2014-2016|
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.
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| Reply to Jimjones1972 - Msg #5734 - 02/08/2017 10:18|
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
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.
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