CTZ.v +.10 to C$.475 CENCOTECH
I think this is going to do well but I can't find a US pink sheet symbol for the stock. Cencotech has a sub, Namsys, that sells cash management software to Banks, armoured car companies and big merchants. Last year they converted to Software as a Service vs selling annual licenses to their software. This typically results in lower revs until all the customers sign up for the service and results in smoother revs thru the year.
www.Namsys.com
As an old banker, I remember the armoured car company visits because we had to go into the vault with the driver and inventory money coming in and going out. You had to pay attention because once the driver leaves, the transaction was done. This software provides an electronic record that is backed up and accessible by multiple departments. With the old paper records, the vault wouldn't know for sure what you were sending until the armoured car arrived at the main vault. And many times the armoured car would not go straight to the Main Vault. They would pickup from various branches and go back to their yard for the night and deliver the cash the next day. This system not only provides a nice record of transactions but even allows a bank to give provisional credit for the cash before it arrives at the bank from the merchant.
The 9 month earnings PR came out today and shows the company is gaining in revs and earnings over last year. They earned .023 eps thru 9 months. That is similar to last year but they paid deferred taxes in 2016 vs none last year.
Because this is a software company, the margins are extremely high. Net after taxes was 630K vs 1,768K gross revs.
So at .011eps for Q3, this stock is selling around 10X earnings but should continue to increase revs and earnings. They have no debt and have just started paying cash income taxes(they are paying deferred taxes plus a small amount of cash taxes). The subsidiary, Namsys did issue 10,000 "First Preference Shares" that have a stated price of $100 per share and pays a fixed preferential dividend of $8/share. The company has redeemed 6,000 of these shares but is limited to redeeming 4,000 shares per year at $100/share.
Total shares outstanding at 27,286,332 are stable and didn't change from 2015.
Bought a small position at C$.27 in April of this year.
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