QuoteMedia Inc (QMCI)

[reaper247]

Some QMCI background info.

QMCI CEO, Dave Shworan is also the co-founder and CEO of the private company bravenet.com.

Bravent.com is one of the largest web tools and webhosting companies in the world with 15 million users.


Bravenet.com has more users than a rival company called godaddy.com (NYSE: GDDY,) that currently has 13 million users.


Most long term liabilities are due to QMCI officers or to bravenet.com, per 10-K filed March 31 2015.

“…The Company has a loan agreement with Bravenet Web Services, Inc. (“Bravenet”). The President and Chief Executive Officer of QuoteMedia, Ltd…

…On September 29, 2006, QuoteMedia, Ltd. purchased the Bravenet business unit that was responsible for providing the Company customer promotion and lead generation services…

…Bravenet provides computer hosting and maintenance services to the Company for approximately $6,250 per month. At December 31, 2014, the balance due to Bravenet for unpaid computer hosting and maintenance services is $43,579. This amount includes interest accrued at 10%. …”

QMCI provides market data to the NASDAQ through nasdaq.com, along with providing data to the TMX exchange.

Quotemedia has dozens of testimonials on their website including one from Cathy Tamraz, President of Business Wire.

"With thousands of member companies and organizations depending on Business Wire to transmit their full-text news releases and multimedia content to journalists, financial professionals, in or services, and the general public worldwide, it is vital that we provide the best possible analytical market data content to our clients. We were impressed with the quality of QuoteMedia's products, the depth of their market coverage, and particularly the level of support they provide. QuoteMedia has shown us tremendous dedication and top quality service since day one, and we look forward to the improvement in our client offerings."
- Business Wire President, Cathy Baron Tamraz

Keep in mind that businesswire.com is a company owned by Berkshire Hathaway, NYSE: BRK/A and NYSE: BRK/B.

Quotemedia has 55 fulltime employees per 10K filed March 31 2015, with four office locations in the USA and Canada.

Officers and majority shareholders hold controlling interest through 52.3% ownership of common shares.

Zero preferred shares outstanding, zero toxic debt and zero CDs.

Quotemedia has recently launched a new product designed for professional traders.

(full story at link)
http://www.nasdaq.com/press-release/quotemedia-unveils-new-html5-financial-content-delivery-technology-20150909-01113

PHOENIX, Sept. 9, 2015 (GLOBE NEWSWIRE) -- QuoteMedia, Inc. (OTCQB:QMCI), a leading provider of market data, financial web content solutions and cloud-based applications, announced it has added a new suite of HTML5 Market data products to its arsenal of financial content solutions. After a year of development, QuoteMedia's new proprietary QMod market data framework, built using HTML5 standards, is now slated for roll out to clients. QMod provides what is essentially an unlimited suite of fully customizable plug and play widgets providing comprehensive market data and research information, modern charting libraries, quotes, fundamentals, analysis, news, filings, ratings, ownership, institutional holdings, insiders, nings, historical data, calendars, tick data and much more…”

Market value @.0501 is $4,532,938, while annual revenue for 2014 was $9,075,709.

QMCI could be one to watch for 2016.

GLTA, IMO and FWIW.