SSC SEC Services Corp. (SECUF)

[Renee]

INPCF changed to SECUF:

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[Renee]

Input Capital Corp. changed to SSC SEC Services Corp. and a one for 3 reverse split:

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[Mr Rollup]

It’s closed

[depends4448]

Input Capital ($INP.V) acquisition by Bridgeway National ($BDGY)? Anyone following and have thoughts?

Someone mentioned that it looks significantly risky due to Eric C Blue's background and previous deals and Bridgeway National's lack of cash. Capital Park Holdings too.

PSL has since learned that Blue provided forged financial statements to the other party to the Anticipated Merger, JHT Holdings, Inc. (“JHT”), in connection with the Anticipated Merger and that, at the time of the Anticipated Merger, Blue did not have funds sufficient to close the transaction.
In February 2019, JHT discovered that the financial statements Blue had provided were forged. By letter dated February 11, 2019, JHT provided written notice that JHT was terminating the Merger Agreement, and JHT demanded payment of the $10,000,000 termination fee.
Upon information and belief, Blue forged several documents in connection with the Joy Transaction.

https://www.courtlistener.com/recap/gov.uscourts.txnb.479880/gov.uscourts.txnb.479880.26.0.pdf

[depends4448]

Anyone following Input Capital ($INP.V) acquisition by Bridgeway National ($BDGY)?

Someone mentioned that it looks significantly risky due to Eric C Blue's background and previous deals.

PSL has since learned that Blue provided forged financial statements to the other
party to the Anticipated Merger, JHT Holdings, Inc. (“JHT”), in connection with the Anticipated Merger and that, at the time of the Anticipated Merger, Blue did not have funds sufficient to close
the transaction.
In February 2019, JHT discovered that the financial statements Blue had provided were forged. By letter dated February 11, 2019, JHT provided written notice that JHT was terminating the Merger Agreement, and JHT demanded payment of the $10,000,000 termination fee.
Upon information and belief, Blue forged several documents in connection with the Joy Transaction.

https://www.courtlistener.com/recap/gov.uscourts.txnb.479880/gov.uscourts.txnb.479880.26.0.pdf

[DeepDive]

1q2018 notes:
1. Inp.v is an agriculture related business. When things go well, Canola is received and turned to cash close to harvest until winter. On these quarters expect to see most revenues, at least from Working Capital Streams.
2. We have learned that high Canola prices acts as headwinds to working capital, marketing streams. Farmers feel rich with cash. It’s not unexpected. With everything AG, the saying goes, high prices remedy high prices. As everyone rushes in to capitalize on them, they drop back.
3.The most important news, I believe, is Input Capital’s mortgage streams. There’s a comprehensive informative deck in the IR part of the site. It would seem the mortgage product might address a larger market and provide good reinvestment opportunities.
4. At the end, Input Capital fate as a good investment rests on its ability to rapidly deploy cash into profitable streams, and then rapidly deploy the profits into new streams, over low fixed costs, thereby unleashing the magic of compound interest.

The key statistics to watch, that will tell us if this IS happening are:
1. Annual Deployment figures: do they Increase?
2. MT Canola reserves: do they grow at a proper speed?

Risk.

I believe Input Capital has done a good going through a learning curve with respect to Risk management. Today’s Canola book is a diversified book and comprises a smaller part of each farmers’ harvest. In addition, today we know we can trust the underwriting process and security management. In addition, today’s business has evolved to a point there is little to no real balance sheet risk for investors.

Past?
The key disappointment with INP.V has been an inability to deploy Cash, at a rapid pace. Working Capital streams are far from free money. Successful farmers lived without them. Struggling farmers are not the proper public for this solution. I have come to the conclusion the TAM is smaller than previously estimated for working capital streams.

Management knows this and has shown remarkable ability to evolve and translate the skills of the team into additional products such as marketing stream and the new mortgage streams.


Future?

What does the future hold for Input Capital? I wish I knew.

I believe, though, that the worst case is a muddle through with deployment slightly over replacement rate (remember, to stay still, they need to replace harvested Canola MT). In this case, the company could return surplus cash via buybacks or Dividend (which is already paid).

If management does not go rouge and try to enrich themselves via free stock, we will be looking at a bond like return with inflation hedging. AG commodities provide good hedge. If Inflation goes out of proportion one day, Input would do well with its light Capital structure and Canola prices.

Today’s prices seem to suggest that is what the market expects going forward.

The better case is mortgage streams pick up and farmers warm to the idea of paying with Canola for the interest. Land prices have gone up. The demographics say there will be a change of land ownership as farmers retire and want to cash out. The Mortgage market is several times that of Working Capital. Mortgages is something farmers are conditioned to use. The familiarity factor is high.

If Input Capital can tap this market and match the working capital IRR, It would not be unreasonable to expect an execution of the original thesis.

I regard the high ownership stake in the business as a huge plus and would probably not wait if management was not putting their money where their mouth is.

There has seem to be a constant selling pressure in the past months as deployment failed to materialize.

For the time being I’m holding and watching.

With a little luck, it will be worth while.

Time will tell.

DeepDive

[DeepDive]

P to book ~ 1 = market: “they will never grow bvps.” Hmmm. Even bears agree 1.5 book is proper val for “alternative financing businesses “.

Time will tell if Input Capital can grow MT above annual replenishment.

With mortgage streams, I would never bet against growth here.

[DeepDive]

With mortgage stream PR we might actually see good MT growth. Possibly higher IRR than working capital streams and possibly little leverage.

[DeepDive]

Recent thoughts on Input Capital.

As of Feb/March 18, Canola prices are high. It is a Boom time for farmers, with high prices on offer. Very hostile environment to the company which's prices seem like far too low, compared to what is on offer. I would expect very low deployment this deployment season.

This may change as prices drop, and it seems that they are scheduled to: India Imposed tariff on lentil - to expect many farmers increase Canola planting. As they say, high prices are best handled by high prices. Its a universal truth with farmers all around the world. Low prices make Input Capital's offer more attractive (especially marketing streams).

Still on learning curve how to market the Capital streams. playing around with different ways to present the deal to find the best way.

I believe the company is trying to find ways to increase the return on Equity, but without taking up long-term debt this will improve ratios such as ROE.

Interested to hear more about the mortgage streams, seems like more data coming this 2nd Quarter 18.

Overall, interesting to see how close the business is to the Ag swings themselves. Investors don't usually like like these type of businesses. Demands too much long-termism. hard to see orderly progress / Growth.

The complicated financials are also a minus.

The MT really need to grow faster. With slow Deployment this deployment this season, we might be looking at a lost year. (Every year, 20% to 16% of the MT goes poof).

If MT goes down or remains stable, there is no growth but for higher canola prices. That's bad news and a shrinking book.

They really need to show they can translate the argued high IRR streams to high return on investment / Capital (still remains to be seen on the P&L).

Plus side -

Insiders really have a good incentive to figure things out. They invented Marketing streams, they invented Mortgage streams, they are evolving and learning how to communicate better the transaction to farmers.

They have little to no Balance sheet risk. Self-funding.

Will they be a good bond or a good equity investment - that's the question.

At these low prices, I am sure they are mauling over buying shares. If deployment fails to break into a higher range, perhaps that's one way of using access capital.

[DeepDive]

REGINA, Dec. 6, 2017 /CNW/ - Input Capital Corp. ("Input" or the "Company") (TSX Venture: INP) (US: INPCF) has released its year end results for the 2017 fiscal year. All figures are presented in Canadian dollars.

"Fiscal 2017 has been a profitable year of growth and expansion in many areas for Input Capital," said President & CEO Doug Emsley. "Not only did we successfully launch our new marketing stream, we expanded our client base by 168%, grew capital deployed by 42%, increased adjusted streaming sales by 37%, increased adjusted EBITDA by 16%, initiated a quarterly dividend, and became a Canadian Grain Commission licensed and bonded grain dealer.

"We are very excited about marketing streams because they require less upfront capital, have higher returns with less risk to Input, and are designed to help every farmer improve their bottom line. Combined with capital streams, they represent what Input Capital is all about – helping farmers improve their bottom lines by improving working capital and canola marketing opportunities."

FY2017 FULL YEAR HIGHLIGHTS

Adjusted streaming sales1 of $35.767 million on the delivery of 75,285 canola equivalent metric tonnes1 ("MT" or "tonnes") at an average price of $475 per MT. This is an increase in adjusted streaming sales of 37% and a volume increase of 40% compared to the previous comparable twelve month period (all full year highlights below are compared to the previous comparable twelve month period);

Cash operating margin1 of $26.196 million (up 16% over the comparable period last year), or $347.96 per MT (73.24% cash operating margin). Cash operating margin per MT is lower than last year due to the first sales of tonnes from marketing streams, which feature lower nominal cash margins than capital streams. As marketing streams grow as a percentage of Input's portfolio, management expects the cash operating margin to decline on a per tonne basis, but grow in total dollar amounts;

Adjusted operating cash flow1 of $18.773 million or $0.23 per share. This is an increase of 1% compared to last year and is in line with management's expectations for the year;

Adjusted net income1 of $1.792 million, or $0.02 per share. This is a decline of 29% from last year and is a result of planned investments made in client acquisition and the launch of marketing streams, positioning the company for strong future growth.

Recorded gross capital deployment of $36.794 million in upfront payments into 195 streaming contracts, adding 128 new producers to the portfolio and more than 307,000 MT to the Company's future canola sales. This is an increase of 42% in capital deployed and a 168% increase in streaming clients over the same period last year. Canola reserves have increased by 56% year over year;

In January 2017, Input soft-launched Marketing Streams, a new variation on streaming that targets farmers looking to get better pricing for their canola. By year-end, Input had signed over 190 marketing stream contracts with farmers, including more than 160 with new clients;

The Company received a grain dealer licence from the Canadian Grain Commission ("CGC") and is now licenced and bonded by the CGC, increasing Input's credibility and profile within the western Canadian agriculture marketplace and providing an additional level of assurance to farmers and other industry participants; and

In December 2016, Input initiated a quarterly dividend. It has made four dividend payments to date, paying out a total of $3.280 million to shareholders.
______________________________
1 Non-IFRS financial measures with no standardized meaning under IFRS. For further information and a detailed reconciliation, refer to "Non-IFRS Measures" beginning on page 27 of the MD&A.


FY2017 Q4 Highlights

Adjusted streaming sales1 of $13.681 million on the delivery of 28,799 canola equivalent metric tonnes ("MT" or "tonnes") at an average price of $475 per MT;

Generated an additional $0.786 million in sales from canola trading for total adjusted sales1 of $14.467 million;

Cash operating margin1 $7.110 million, or $247 per MT (51.97% cash operating margin);

Adjusted operating cash flow1 of $5.799 million or $0.07 per share;

Adjusted net income1 of $1.237 million, or $0.02 per share;

Recorded gross capital deployment of $1.751 million in upfront payments into 11 streaming contracts, adding 4 new producers to the portfolio and more than 10,000 MT to the Company's future canola sales;

On August 23, 2017, Input announced it retained Stonegate Capital Partners Inc. of Dallas, Texas to provide advisory and institutional outreach services in the United States;

On September 11, 2017, the Board of Directors declared a dividend of $0.01 per common share for the quarter ending September 30, 2017;

On September 28, 2017, Input President and CEO Doug Emsley presented at the Sidoti & Company Fall 2017 Conference in New York, and;

Finished the quarter with:
Cash of $17.615 million;
Total canola interests (current portion and long-term portion) and other financial assets (liabilities) (herein referred to collectively as "canola interests") of $68.423 million;
Multi-year active streaming contracts with 301 farm operators, up from 112 a year ago;
Total shareholders' equity of $105.119 million;
$6.351 million drawn on its $25 million revolving credit facility; and
No long-term debt.
_________________________________
1 Non-IFRS financial measures with no standardized meaning under IFRS. For further information and a detailed reconciliation, refer to "Non-IFRS Measures" beginning on page 27 of the MD&A.


KEY PERFORMANCE INDICATORS FOR THE COMPARABLE PERIODS ARE SUMMARIZED BELOW:




Selected non-IFRS measures1
Three months ended
Sep 30
Twelve months ended
Sep 30
CAD millions, unless otherwise noted
2017
2016
2017
2016
Adjusted streaming sales
13.681
7.656
35.767
26.044
Adjusted streaming volume (MT)
28,799
15,916
75,285
53,949
Average selling price from streaming contracts
$475.04
$481.03
$475.09
$482.75





Cash operating margin
7.110
6.514
26.196
22.548
Cash operating margin per tonne
$246.88
$409.27
$347.96
$417.95





Cash margin
1.991
1.835
7.403
7.803
Cash margin per tonne
$69.13
$115.29
$98.33
$144.64





Adjusted EBITDA
6.351
5.481
20.634
17.824
Adjusted EBITDA per share (basic)
$0.08
$0.07
$0.25
$0.22





Adjusted operating cash flow
5.799
5.891
18.773
18.480
Adjusted operating cash flow per share (basic)
$0.07
$0.07
$0.23
$0.23





Adjusted net income (loss)
1.237
0.550
1.792
2.256
Adjusted net income (loss) per share (basic)
$0.02
$0.01
$0.02
$0.03





Upfront payment per tonne2
$171.16*
$181.84
112.23*
280.49

*Upfront payment per tonne reflects upfront payments made into both Capital Streams and Marketing Streams. For more information about Marketing Streams, refer to discussion on Marketing Streams beginning on page 14 of the accompanying MD&A.


SALES

For the fiscal year ended September 30, 2017, Input generated adjusted sales from streaming contracts of $35.767 million on the adjusted streaming volume of 75,285 MT an average price of $475 per MT.

The sales from streaming tonnes plus net settlements from streaming tonnes for the twelve months ended September 30, 2017, represent a 40% increase in quarterly volume over the comparable period one year ago, when the Company sold 53,949 MT of canola equivalent for revenue of $26.044 million for an average price of $483 per MT.

For the quarter ended September 30, 2017, Input generated adjusted sales from streaming contracts of $13.681 million on adjusted streaming volume of 28,799 MT for an average price of $475 per MT.

The sales from streaming tonnes plus net settlements of canola interests for the quarter represent a significant increase in quarterly volume over the comparable quarter one year ago, when the Company sold 15,916 MT of canola equivalent for revenue of $7.656 million for an average price of $481 per MT.

___________________________
1 Non-IFRS financial measures with no standardized meaning under IFRS. For further information and a detailed reconciliation, refer to "Non-IFRS Measures" beginning on page 27 of the MD&A.


CAPITAL DEPLOYMENT AND STREAMING CONTRACT PORTFOLIO

Year to Date

For the fiscal year ended September 30, 2017, Input recorded gross capital deployment of $36.794 million (compared to $25.825 million in the same period last year) into 202 streaming contracts for the right to purchase more than 307,000 MT of canola over the life of the streaming contracts. Net deployment for accounting purposes was $32.507 million.

During the twelve months, Input added 189 new contracts; 134 in Saskatchewan, 52 in Alberta and 3 in Manitoba. The remaining contracts were renewals, expansions and of existing contracts. During the comparable twelve month period ended September 30, 2016, Input added 33 new producers to its portfolio.

During the twelve month period, Input's average upfront payment per tonne was $112.23 compared to $280.49 in the comparable period last year. The upfront payment per tonne reflects upfront payments made into Marketing Streams which are lower than Capital Streams, bringing the upfront payment per tonne down substantially.

As of September 30, 2017, Input's active streaming portfolio consisted of 301 geographically diversified streams. 221 of the Company's canola streams are with farms in Saskatchewan, 71 are located in Alberta, and 9 are in Manitoba. The Company is pleased with its continued growth across Alberta and Saskatchewan over the last year and expects to continue diversifying its asset base across the Prairies in FY2018 as it continues to add new streams to its portfolio.

The change in active streaming contracts by region on a quarterly and annual basis is demonstrated in the table below:

Active Streaming
Contracts
Sep 30, 2017
Jun 30, 2017
Quarterly
Growth
Sep 30, 2016
Year Over Year
Growth
Manitoba
9
9
-
6
3
Saskatchewan
221
220
1
87
134
Alberta
71
71
-
19
52
Total
301
300
1
112
189


Quarter Ended September 30

The quarter ended September 30 is always the slowing period of the year for capital deployment. For the three months ended September 30, 2017, Input recorded gross capital deployment of $1.751 million (compared to $1.784 million in the same quarter last year) in upfront payments into 11 streaming contracts for the right to purchase over 10,000 MT of canola over the life of the streaming contracts.

During the quarter, Input added four new producers to its streaming contract portfolio; all of them in Saskatchewan. The remaining contracts were renewals, expansions and restructures of existing contracts.

During the comparable quarter last year, Input added five new producers to its portfolio.

During the quarter, Input's average upfront payment per tonne was $171.16 compared to $181.84 in the comparable quarter last year. The upfront payment per tonne reflects upfront payments made into Marketing Streams which are lower than Capital Streams, bringing the upfront payment per tonne down substantially. As a result, Input now controls more physical canola per dollar invested than at any time in its history. For more information about Marketing Streams, refer to discussion on Marketing Streams beginning on page 14 of the MD&A.

BALANCE SHEET

Key balance sheet items are summarized below:




Statements of Financial Position
CAD millions, unless otherwise noted
As at
Sep 30, 2017
As at
Sep 30, 2016
Cash
17.615
16.643
Canola interests and other financial assets
68.423
77.757
Total assets
120.555
118.548
Total liabilities
15.436
2.935
Total shareholders' equity
105.119
115.613
Working capital
28.870
71.181
Revolving credit facility
6.351
-
Long-term debt
-
-


OUTLOOK

This is the time of year when the level of activity at Input picks up substantially versus the quiet summer months. Input's business is highly seasonal, both in terms of when the Company signs up new clients and deploys capital (starting in October and building slowly to a climax in February through June), and in terms of when it receives canola deliveries and records revenue (starting in August or September, depending on the pace of harvest, and running through to the end of March).

Except for farmers in the area of southern Saskatchewan that was very dry this year, prairie farmers generally had a good growing season in 2017 featuring a combination of good yields, strong prices, and smooth harvest weather conditions. These factors have contributed to good near-term liquidity for farmers and has the potential to contribute to lower demand for the Company's capital streams. On the other hand, confident farmers tend to expand, and management has previously found farmers who are expanding to represent a good market for capital streams. It is too soon to predict which will be the dominant outcome this year.

As a result, management has discontinued the practice of providing guidance regarding annual capital deployment. Management's objectives for the year are to continue growing its client base by deploying capital into both capital and marketing streams, and to do so at a level which is greater than the previous year's capital deployment. Since its founding in 2012, Input has grown its annual capital deployment by a Compound Annual Growth Rate (CAGR) of about 18% and management plans to continue to grow deployment year-over-year.

WEBCAST AND CONFERENCE CALL DETAILS

A conference call will be held on Thursday, December 7, 2017 starting at 9:30 am Saskatchewan time (10:30 am Eastern time) to further discuss the year end results. To participate in the conference call use the following dial-in number:

Participant Dial in #: [phone] (North America Toll Free)
Participant Dial in #: [phone] (International)

Webcast URL: http://event.on24.com/r.htm?e=1532066&s=1&k=E98FCDAEBA3F1A4CF142138CBA27681C

It is recommended that participants dial in five minutes prior to the commencement of the conference call. Soon after the completion of the call, the webcast will be available for download on the Input Capital website at investor.inputcapital.com.

[DeepDive]

http://www.stonegateinc.com/reports/INP_Initiation_Nov_2017_Final.pdf

It appears 2017 FY will show lowered Rev and a loss.

Not conducive to higher PPS, but the opposite.

Marketing streams of higher IRR good news, but since much smaller streams, unless deployment really picks up the total growth might come slow.

So, rough several quarter ahead.

[DeepDive]

INP’s IR firm publishes coverage

[ves]

More than half of my participation has been purchased under
$2CAN.
Updates will available this week.
Surprises? Hope so.

[DeepDive]

Input Capital Corp. Receives Grain Dealer Licence From Canadian Grain Commission

http://www.newswire.ca/news-releases/input-capital-corp-receives-grain-dealer-licence-from-canadian-grain-commission-631388153.html

Input is still a very low risk business for investors.

The main variable to determin what rate of return occurs from here on out is the speed the business increases its MT of Canola using all sorts of streams.

A Good expantion in the coming quarter, even off season for main streams, generated by the marketing streams will be a good sign.

curious to see how this develops.

[ves]

better can hardly see Q2.

[ves]

Yes the story evolves further in a positive way, but no one seems interested.
It creates one concern,where do I find more money quickly to take advantage of these opportunities?

[DeepDive]

Encouraging.
Still way to go to 50m.

A new interesting development is farmers coming and asking INP to handle their Canola sales, since they get better prices, and share the upside.

Since INP gets only 20-30% of the Canola with any farmer, the upside from this additional business can nice addition.

Brad et al are working to get the service known and to become valuable to the farmers.

Small contracts means easier transactions and more exposure.

Good quarter in my book.

[ves]

REGINA, Jan. 10, 2017

$12.0 Million in New Capital Deployment

During the quarter, Input signed 15 canola streaming contracts for total up-front payments of $12.0 million. This is 82% higher than deployment of $6.6 million during the same period last year.

Deployment in the quarter resulted in the addition of over 62,000 metric tonnes ("tonnes" or "MT") to Input's total active canola reserves.

Of the 15 contracts signed in the quarter, 10 are with new clients and 5 renewals/expansions with existing clients. This brings Input's streaming portfolio to 122 active canola streams in Alberta , Saskatchewan and Manitoba . 20, 96, 6.

Good for me.

[DeepDive]

Input Capital's value is going to be driven, short term (next few years) by its growth rates (book value; OCF; EPS).

Bulls/INP says - value using CFO multiples, like streaming companies.

Bears says - value as alternates lender, max 1.5 per book value, not streaming as only 6 year contract then need to 'refill' book, like lender.

The one KEY variable underpinning the two is growth.

Growth is slow.

Why? A. Either new/green sales team (solvable) or
B. Market less warm to the idea = smaller opportunity than thought.

Div says we have more capital than we can deploy (sales are not expected to go into hyperdrive mode).

Pay close attention to management coming up with creative but less profitable ways to grow as another Tell the thesis has changed.

This deployment season will tell us a lot about what to expect and how to modify the thesis.

An upside from these prices is reasonable to expect, but right now, there are way better growth stories out there.

[ves]

Adi
A very well written review can be found on SA: http://seekingalpha.com/article/4011317-deep-value-idea-canadas-oil-patch

And first dividend arrives on 16 Jan 2017.

HAPPY NEW YEAR

[DeepDive]

Slowdown in deployment (total CaD value) per recent update, is not good news, in general. In fact it's bad news.

The thesis heart (at least the unproven parts thereof) is that the farmers welcome and use the new financing method in an ever growing rate.

While no. Of contracts grow (great for diversification purposes), additional sales team could not bring results yet.

For 2017 deployment year INP, Brad, and co. Are under the microscope.

Without good signs of market adoption, shown in growing book and MTon Canola on the balance sheet, this is just a small Mom & Pop business with too expensive management.

Everything is ready.

Can INP perform?

Time will tell.

Long.

[DeepDive]

Some weakness due to China demands to ship cleaner canola seed. Industry says too expensive and fears Canola prices might collapse as key buyer leaves the market.

Short term, prices are locked in.

Longer term effect on deployment rate and farmers reaction (willingness to receive INP Capital) unknown.

Someone once said that the best medicine against weak prices are weak prices. Markets correct itself.

[ves]

Last year, input has 40 mil in cash, which was then not used intirely. I expect the same now .But I expect progress on all fronts

[DeepDive]

The last issue with Input is how fast it can grow. Management told me its targeting 50 million dollar deployment this coming year. This is about 166 streams, and the company established a credit line for that purpose. Question is, will growth ramp up and to what type of run rate. If and when the growth rate picks us, hold on to your hat.

[ves]

Input Capital Corp. Publishes Q1 Operations Update and Announces Change in Year-End

$6.1 Million in New Capital Deployment

During the quarter, Input signed 21 canola streaming contracts for total up-front payments of $6.1 million .
Of the 21 contracts signed in the quarter, 14 are with new clients in Alberta (4), Saskatchewan (9) and Manitoba (1) and 7 contracts are renewals/expansions with existing clients.

This brings Input's streaming portfolio to 107 active canola streams in Alberta (17), Saskatchewan (84) and Manitoba (6).

[ves]

Input Capital Corp. Celebrates 100th Canola Stream, now it's real.

[DeepDive]

Very very good news, and fortunately I managed to grab some seconds after news broke. Next up, rate of growth. The company still looks undervalued based on book value.

[wz9ytp]

I will be buying in on a pull back. Great timing on this.

[Belek]

just a heads up, the June 6 2016 issue of Modern Trader has an

article called Spreading Canola by Robert Simons from Rosewood trading, very interesting,

can't get a link to it, maybe later i can ask editor for permission.

ModernTrader.com

[ves]

Belek, Good to see that you have not given up.

[ves]

It begins to be a pattern in my Input live, every time I go on vacation, some things speciaals happens. A large dip or a sudden outbreak. I think so, I should take more holidays. Well, now I have succeeded to buy 1/3 of my property interest of Input Capital under Ca $ 2. Not so much in order to reduce the average, rather in order to increase the base, of course that the average is then dropped is great. Belek, I realize today that it was previously Jeff, I thought you were no longer in Inp. I suspected you had thrown in the towel.

[Belek]

WOW amazing, i didnt get to employ any capital in this last run up,

but i will be sure to grab some on a pullback if things look confirmed,

thanks for the INPUT!

I'll focus on this chart for now

[ves]

NEWS RELEASE
Input Capital Corp. Announces Account Resolution
5/11/2016
REGINA, May 11, 2016 /CNW/ - Input Capital Corp. ("Input") (TSX Venture: INP) (US: INPCF) is pleased to announce
that it has now substantially resolved the largest of the three streaming contracts which were terminated in
November 2015.
As a result of management's determined collection efforts related to this streaming contract, the following results
have been achieved:
In late March, Input took titled possession of approximately 2,000 acres of farmland;
On May 1, a farm equipment auction was held in which approximately 60% of the equipment held as security
was auctioned. The auction was very successful, with over 800 bidders registered to bid and gross sales
exceeding the expectations of the auctioneer; and
Late yesterday, the titles to approximately 3,000 acres of additional farmland were transferred to Input.
Input has taken possession of the balance of the equipment and is planning a second auction for June 2016.
The 5,000 acres of farmland now owned by Input have been rented to local farmers for the 2016 growing season.
Input plans to market the land for sale after harvest and has already had several inquiries from potential
purchasers.
Management expects that the proceeds of the auctions and the planned land sales will result in a complete
recovery of Input's capital associated with this streaming contract.
"This resolution proves the strength of Input's security package and realization process," said President & CEO Doug
Emsley. "We have always been determined to protect our capital, and these results prove that this works in practice
and not just in theory. If a canola stream goes bad, Input's capital remains safe so that it can be recovered and
redeployed with other farmers, continuing the growth trajectory of Input's streaming business."

[wz9ytp]

So? This is my kind of play!

[Belek]

Input capital coming back to life INPCF


I'll have to check the fundamentals tonight

[ves]

Good news released $11 MM put to work, and 38 new contracts. This it is what it must be.

http://s1.q4cdn.com/784243260/files/doc_news/Input-Capital-Corp-Publishes-Q4-Operations-Update.pdf

[ves]

If the canola price is right, the farmers see less need to do business with Input. On the other side, I think the 3 on Hold Makes Input is even more careful, therefore, the smaller deals. In turn, it gives us more opportunity to input more capital to Input Capital at bargain prices..They are cautious and conservative, with no debt, but still new and relatively unknown. But a wonderful business plan, and a clear goal. To become a 1 billion company in 5 years.A billion divided by the number of shares, then I want to wait on, even half of this goal is worth the wait. That is the reason to give this time.

[DeepDive]

Didn't have the chance to study it properly, but did notice the new contacts were below my expectations for the high season. If the next quarter is as low it may hint to a slowing of sales growth. The thesis is fast adoption by a welcoming farmer community. With expended sales force these results seems off.

[ves]

Unbelievable that there are sellers, if you look at the latest Q figures .

[ves]

The best piece I've read on Input, now the price is back at its starting point, better to take the time to re-read again, only with a much stronger base.

http://www.aboveaverageodds.com/2015/01/24/input-capital-corp-inp-v-a-field-of-streams/

[ves]

If there is no update on the update, I expect a retest of the lows.But I hope it's not tomorrow. I'm waiting for my year end bonus :) And I know where I'm going to spend it.

[wz9ytp]

Nice gap!!!! I'll be sticking to my BRWC today. Huge news out last night, i'm expecting quite a pop this morning. Ran out of posts last night. That other one you posted last night? niei or such? Been going nuts on twitter for the past few days. Might run again today....many eyes on that one as well.
Gonna be quite busy today. Meetings and all....

Have a great one!

[Belek]

Ya think maybeI'll pick some up for rebound back yo over $2.50

although cash depleted a little by 57%,,,,,no debt, seems pretty good

skimming thru the balance sheet

[ves]

OK, 100 minus 3, reaction is overdone.

[ves]

We go to 100 deals.

[ves]

Yes Adi, if each team member closes two deals, which still is not excessive, we have 16 new ones soon.

[DeepDive]

Yup. Several things come to mind looking at the recent press release:
a. They got deals done even in the slowest season of the year. I would imagine most farmers are busy as hell in this quarter.
b. Extention deals, either in leangth or add on land suggests the service is value added to clients. It also somewhat confirms the stickyness of the service. Repeat sales is a very powerful force and tends to add spring to a growing business.
c. The company used most of the funds incoming to reinvest in new contracts - a very powerful component in the compounding of revenues and profits.

Next up are the quarterly reports to confirm. In the next 2 quarters we will find out the actual rate of signing up of new contracts with the added sales force.

I am very optimistic and very happy to see the results.

Further down the line, the company might choose to sell at least some of the RapeSeeds later in the year to lock in higher rates, but I do believe for now, as fast as funds come in, they are better of being reinvested in new contracts, as far as the demand is there.

All in All - great job so far.

Adi.

[ves]

On a trailing twelve month (TTM) basis, Input's streaming revenue is up 150% this year over last year at the same
time. so nice

[ves]

http://investor.inputcapital.com/files/doc_news/Input-Capital-Corp-Reports-Record-Q2-Streaming-Revenue-and-Record-Q2-Deployment.pdf

[ves]

Jeff,
I was on vacation and missing a nice dip. But everything hoovering under $ 3 is fine. Did have a small buy outstanding at Div, for me, a new royalty. What puld me over the line is the increase in dividend.
I hope Input not wait too long with it.