June 2022 Update - $OSS.v, $ISV.to, $STC.to & $SANG, $KUT.v, $CPH.to

Happy Canada Day!!

Photo by Hermes Rivera on Unsplash

Thoughts on Market Activity

Nothing new or productive. I don’t know where the market, interest rates, oil or anything else goes from here. There seems be a major focus on the macro more than any other point in my investing journey other than 08/09 aside from covid.

On a more personal note, I have taken a longer term break from Twitter and have found it better for my mental health. My timeline seemed to be filled with a mix of bear market bottom calls, trolling crypto investors/speculators and victory laps on energy. I find it more productive to spend the previous Twitter time in the squat rack, reading, doing some woodworking projects or napping.

What I’m Reading

The Revolution That Wasn’t: GameStop, Reddit, and the Fleecing of Small Investors by Spencer Jakab. It’s interesting to look back at the events of early 2021.

Podcasts I Enjoyed Over the Last Month

• Scott Peppet on The Business of Family

  • Interesting perspective on the private trust company for Sam Zell and his family.

• William Green on The Business Brew

  • always appreciate Bill’s honesty.

• Howard Lindzon on Planet MicroCap Podcast

  • His comments around the pandemic, screens/phones, crypto, who you’re competing against, and some other topics were interesting.

• Paul Millerd on Infinite Loops

  • This was interesting. Maybe it resonated with me because I changed careers 5 or 6 times before realizing I didn’t want a typical career.

Posts this month

• Why I sold $CMG.to

Company Updates    

• OneSoft Solutions - $OSS.v

  • purchased Integrity Management business from Bass Engineering

    • approx 1.5% dilution

    • 7 person team averaging $1.5 mil USD in annual revenue

    • operating expenses anticipated to be $1.3 mil USD

• Information Services Corp - $ISV.to

  • acquisition of Reamined

    • interesting diversification move here

• Sangoma Technologies Corp - $STC.to

  • announced an NCIB for up to 5% of the current total outstanding

    • nice to see, hopefully it’s executed and not just announced

• RediShred Capital - $KUT.v

  • Small acquisition announced

    • nice to see the continued deployment of capital

    • pro-forma EBITDA margins in line with existing corporate owned locations

• Cipher Pharmaceuticals - $CPH.to

  • held AGM this month

    • the founder and former CEO Dr. John Mull didn’t stand for re-election

    • I view this as a positive

Long - $OSS.v, $STC.to & $SANG, $KUT.v, $CPH.to

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