Armada Data relaunches TheCarMagazine website
2017-03-10 11:17 MT - News Release
Mr. James Matthews reports
ARMADA DATA RE-LAUNCHES REFRESHED & REDESIGNED THECARMAGAZINE.COM
Armada Data Corp. has relaunched its refreshed and redesigned automobile information website, TheCarMagazine (TCM). The launch coincides with Armada's reinvigorated market outlook as a newly debt-free company.
TCM is a user-friendly on-line portal with a mandate to be Canada's premier source for new car vehicle information. Debuting in May of 2002 and designed exclusively for the digital environment, TCM features an extensive library of new vehicle reviews, spectacular image galleries and a wealth of CarCostCanada-powered new vehicle pricing data.
Potential vehicle buyers can browse through detailed reviews of new cars and trucks manufactured for sale in Canada -- not only for the current model year but for previous years as well. TCM is a virtual fountainhead of informative automotive data ranging from discounts to buyer reviews, and much, much more. The continually updated website boasts extensive new car research features geared to assist new vehicle buyers in navigating the ever-changing automotive marketplace. This recent comprehensive refresh builds on years of constructive feedback by site users, resulting in a wealth of helpful features while further refining the "just one click" user experience.
"One of TCM's greatest virtues is that it's designed by Canadians, for Canadians," stated Eli Oszlak, chief technology officer for Armada. "Bombarded as we are by U.S.-based media, Canadian new car buyers may be unaware that vehicles sold here are often built and packaged differently from their U.S.-built counterparts."
Indeed, vehicles built for the Canadian market can have different model designations, different levels of standard and optional equipment, and even different engine options. On-line auto reviews pulled from Internet searches and featured in the most popular car and truck print magazines are usually American-based, and as such, do not mention these differences. "This can leave Canadian new vehicle buyers frustrated to say the least, hindering their ability to conduct accurate research. In the end, Canadian vehicle buyers get hurt where it hurts the most: in their wallets. TCM puts the concerns of Canadian vehicle buyers front and centre, saving them time and money," added Mr. Oszlak.
As Canada's most comprehensive new vehicle buyers guide, TCM addresses these issues head-on. Throughout its existence, TCM has highlighted the many disparities between U.S.-built and Canadian-built vehicles. TCM's paramount objective has been and continues to be empowering Canadian new vehicle buyers with accurate, up-to-date data and information about Canadian-specification vehicles -- the vehicles they will actually be buying. This focus on domestic market vehicles makes TCM the obvious choice when it comes to researching new cars in Canada.
TCM enjoys a mutually beneficial association with LeaseBusters, Canada's leading lease takeover destination, and FinanceBusters, your one-stop shop for IPO integrity preowned vehicles. By virtue of its comprehensive domestic-oriented database, TCM has become the premier automotive research site for LeaseBusters and FinanceBusters members. It is a match made in car-owning heaven, since many customers will buy or lease a new vehicle after liberating themselves from their current obligations via LeaseBusters and FinanceBusters.
Armada hits the ground running in 2017 by virtue of being debt free after repaying a corporate loan in full. "I am pleased that the company's performance has allowed repayment of these notes payable," stated controller and chief financial officer Elizabeth Matthews. "And I'm glad our cash position has recovered enough to pay them out." Ms. Matthews also stated that she is thankful to the related-party company for providing loans that enabled the company's recovery.
© 2017 Canjex Publishing Ltd. All rights reserved.
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Armada Data earns $117,740 in fiscal Q2 2017
2017-01-27 11:59 MT - News Release
Mr. James Matthewsm reports
ARMADA ANNOUNCES Q2 2017 RESULTS
Armada Data Corp. has filed its interim financial results for the quarter ended Nov. 30, 2016, on SEDAR. The financials are available to view on the company's website and on SEDAR.
Selected Quarterly Information
Fiscal Year 2017 2017 2016 2016 2016 2016 2015 2015
Quarter Nov-30 Aug-31 May-31 Feb-29 Nov-30 Aug-31 May-31 Feb-28
Ended 2016 2016 2016 2016 2015 2015 2015 2015
Total Revenue 624,214 587,134 661,263 522,663 545,409 528,853 463,056 466,797
Income (Loss) 117,740 144,853 97,589 81,419 34,364 70,175 (505,629) (52,028)
per share $0.01 $0.01 $0.01 $0.00 $0.00 $0.00 $(0.03) $0.00
The prior periods' comparative figures have been reclassified where necessary, to conform to the current period's presentation.
The Company's total sales increased by 14% in the quarter ended November 30, 2016, from $545,409 in 2015, to $624,214. Comprehensive income increased from $34,364 in the period ended November 30, 2015 to $117,740 in the period ended November 30, 2016.
The Insurance Services division experienced a 25% increase in revenue, from $280,719 in 2015 to $352,176 in 2016. This is a continuing result of 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 15% to $55,260 in 2016 from $64,727 in 2015.
The Dealer Services division revenue decreased 4%, from $162,013 in 2015, to $155,775 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 $7,298 to $26,700.
The Information Technology division revenue increased 12% to $34,303 in 2016, up from $30,652 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 $496,696, compared to $500,984, a 1% decrease over last year.
Cash on hand increased from $196,813 as at November 30, 2015 to $457,723 as at November 30, 2016.
Accounts receivable increased by 46%, $334,324 as at November 30, 2016, compared to $229,594 last year. Related party accounts receivable increased from $4,037 to $4,166.
Accounts payable decreased to $160,951 as at November 30, 2016 from $293,011 a year earlier. Related party accounts payable decreased to $1,894 as at November 30, 2016, from $4,538 last year.
The Company's deficit decreased to $(1,288,676) as at November 30, 2016 compared to a deficit of $(1,730,277) last year.
Related Party Transactions
Salaries and expenses are paid to an officer of the Company, who is also 50% shareholder of Lease Busters Inc. Office space is rented from Lease Busters Inc. 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 Data Corporation, 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.
Revenues earned by the divisions are as follows:
3 months ended 3 months ended year ended
Nov. 30, 2016 Nov. 30, 2015 May 31, 2016
Insurance Services $ 352,176 $ 280,719 $ 1,108,745
Retail Services 55,260 64,727 227,038
Dealer Services 155,775 162,013 660,540
Internet Technology 34,303 30,652 121,289
Advertising/Marketing Services 26,700 7,298 74,624
Total revenue - Armada Data Corp 624,214 545,409 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 $ 624,214 $ 545,409 $ 2,258,188
About Armada Data Corporation
Armada Data is a Canadian publicly traded Information & Marketing Services Company providing accurate and real-time data to institutional and retail customers, through developing, owning and operating automotive pricing-related web sites and providing information technology and marketing services to its clients.
Armada Data shares are listed on the TSX Venture exchange under the trading Symbol ARD. Armada currently has a total of 17,670,265 shares outstanding.
© 2017 Canjex Publishing Ltd. All rights reserved.
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