 SSA.V - Spectra Inc. News: SSA Appoints New Chairman & Subsidiary Director
2019-01-22 07:20 MT - News Release
Mr. Glen Campbell reports
SPECTRA INC. REPORTS APPOINTMENT OF NEW CHAIRMAN AND SPECTRA PRODUCTS INC. REPORTS ELECTION OF A NEW DIRECTOR.
At a meeting of the board of directors on Jan. 7, 2019, Glen Campbell was appointed as chairman of the board of Spectra Inc.
Mr. Campbell had previously held this position, resigning on October 24, 2018, when he was replaced by Mr. Andrew Malion.
Also, on January 7, 2019, Mr. Mark Donatelli was elected to the Board of Directors of Spectra Products Inc., a subsidiary of Spectra Inc., replacing Mr. Andrew Malion. Mr. Donatelli is Vice-President at B.E.S.T. Funds. B.E.S.T. Funds represents the largest shareholder of Spectra Inc. and is a welcome addition to the Board.
Mr. Malion continues in his roles as a Director of Spectra Inc. and as President of both Spectra Inc. and Spectra Products Inc.
Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake SafeO, the visual brake stroke indicating system, Brake InspectorO, the company's electronic in-cab air brake diagnostic system and the Termin-8RO line of anti-corrosion and extreme pressure lubricants. Spectra Products Inc. distributes Zafety Lug LockO, a lug nut retainer that uses the resistance between wheel nuts to minimize their ability to rotate and loosen, reducing the risk of wheel damage or wheel loss and Hub AlertTM, an innovative heat sensing label that provides an alert for overheating wheel ends, reducing the risk of bearing failure and corresponding maintenance and repair costs.
We seek Safe Harbor.
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ProfitableStocksOnly 
151 posts | Posted by ProfitableStocksOnly > Jan 22, 2019 9:53 AM | Report Abuse Spectra Inc. Reports Third Quarter 2018 Results
For Immediate Release – October 29, 2018
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of its financial results for the first nine months of 2018. Revenues for the nine-month period ending September 30, 2018 were $1,601,377 compared to $1,332,592 for the same period in 2017, an increase of 20.17 percent. Revenues for the third quarter ending September
30, 2018 were $559,181 compared to $432,186 in 2017, an increase of 29.38 percent.
The third quarter ending September 30, 2018 showed a net profit of $145,065 compared
to a net profit of $56,809 for the third quarter ended September 30, 2017.
During the nine-month period ending September 30, 2018, a net profit of $386,936 was
generated compared to a net profit of $190,424 for the nine-month period in 2017.
Cash generated by operations in the nine-month period ending September 30, 2018 was
$423,643 compared to the comparable amount of $215,721 in the nine-month period
ended September 30, 2017; an increase of 96.38%.
Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North
American designer, manufacturer and distributor of Brake SafeÒ, the visual brake stroke
indicating system, Brake InspectorÒ, the company’s electronic in-cab air brake diagnostic
system and the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants.
Spectra manufacturers and distributes the new Arrow Logger™ brake stroke data logger
that has been designed to enhance the performance of the Brake Safe® system. Spectra
distributes Zafety Lug LockÒ, a lug nut retainer that uses the resistance between wheel
nuts to minimize their ability to rotate and loosen, reducing the risk of wheel damage or
wheel loss and Hub Alert™, an innovative heat sensing label that provides an alert for
overheating wheel ends, reducing the risk of bearing failure and corresponding
maintenance and repair costs.
Except for the historical information contained herein, this news release contains forward
looking statements that involve risks and uncertainties, including the impact of
competitive products and pricing and general economic conditions as they affect the
Corporation’s customers. Actual results and developments may therefore differ
materially from those described in this release.
On behalf of the Board of Directors,
Andrew Malion, Chairman, Spectra Inc.
Investor Relations: 1-800-308-5255
E-Mail: info@spectrainc.ca
Website: www.spectrainc.ca |
ProfitableStocksOnly
151 posts | Posted by ProfitableStocksOnly > Jan 22, 2019 10:11 AM | Report Abuse http://bestfunds.ca/ - This is the largest shareholder of Spectra, who is now part of the subsidiary board of directors.
About BESTFUNDS:
About
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ProfitableStocksOnly
151 posts | Posted by ProfitableStocksOnly > Jan 22, 2019 10:34 AM | Report Abuse Spectra Inc. (SSA.V) Nine Month Results. All Information Available On SEDAR
Ticker Symbol: SSA.V
Current Price: $0.03
Common Shares: 60,509,971
Insider Holdings: 8.61% - All held by CEO
Institutional Holdings: 30% (Dynamic Venture Opportunities Fund)
Spectra Inc. has recorded 16 straight quarters of profits, with revenue increasing year over year
Most Recent Financial Statements (September 2018)
*Note* - Year End Will be out in March 2019, followed by Q1 2019 results in April
ASSETS
Cash: $353,454
Accounts Receivable: $291,734
Inventories: $196,269
Prepaid Expenses: 4,737
Total Assets: $846,194
LIABILITIES
Accounts Payable : $214,884
Royalty Debenture: $639,940
Preferred Shares: $450,468
Total Liabilities: $1,305,292
9 Month Sales
Revenue: $1,601,377
Cost Of Sales: $672,497
Gross Profit: $928,880
Total G&A Expenses: $541,944
Net Income: $386,936 or $0.0064 cents per share. Fair value at 10 times earnings is 6 cents
Management Discussion Highlights
The Company continues to focus its efforts on expanding the present market for its products while
introducing those products into new markets as well as seeking out new products to complement our
current wheel end safety offerings.
The Company’s Signature Brake Safe® product is well established in the Canadian market and is gaining
sales momentum in the lucrative American market. The Commercial Vehicle Safety Alliance [CVSA] is a
nonprofit association comprised of local, state, provincial, territorial and federal commercial motor vehicle
safety officials and industry representatives. The CVSA holds brake-focused enforcement events
throughout the year to identify and remove commercial vehicles with dangerous brake issues from the
roadways. Brakes out of adjustment continue to be the number ONE out service violation in North America
as evidenced this year during International Roadcheck and Operation Air Brake.
A program has been developed to educate companies of these enforcement changes and the resulting
increased intervention by regulatory agencies in order to capitalize on sales opportunities for Brake Safe.
The Company’s Termin-8R® product continues to receive strong industry acceptance with a corresponding
growth in sales to the transportation segment. The private label arrangement made for a leading supplier to
the commercial transport industry is proving to be an excellent performer.
The Company will continue to form strategic distribution alliances in the United Sates to accelerate its
wheel end safety product sales outside the Canadian marketplace.
The Company may seek sufficient additional funds to provide working capital, inventory and capital
equipment as needs arise, but at the moment, cash flow from operations |
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