Mid Feb 2023 Update - $STC.to & $SANG, $FTG.to, $XTC.to

Thoughts on Market Activity

Nothing constructive over what you get from CNBC.

Podcasts I Enjoyed

• I really enjoyed this podcast of Rory Johnston on Value Hive. Rory gives a balanced view on O&G and has deep knowledge in the industry. I also liked how he shared his experience of working in the industry when it wasn’t as glamourous as it once was.

• Christopher Godfery on Capital Employed was worth a listen for me. I like listening to anyone who focuses on small and mid cap stocks really. It’s good to get different perspectives and experiences.

• I liked this podcast over at Think Like an Owner. Sandy Paige goes over how to manage teams. I think this industry experience is often overlooked by us investors who stare at price charts and financial statements and we tend to forget the people behind all of it.

• I liked listening to Carl Kawaja speak about the (potential) regime change on Invest Like The Best.

Other News

I’m competing in a Powerlifting event tomorrow. Wish me luck.

Company Updates    

• Sangoma Technologies Corp - $STC.to

  • released fiscal Q2 2023 and it wasn’t what the market expected

    • guidance was lowered as well

    • weakness was mainly on the product side while services remain relatively strong

    • I have added to my holdings by about 50% which is the most I have purchased since 2017/18

• Firan Technology - $FTG.to

  • Reported their Q4 2022

    • results were strong and backlog looks positive

    • still waiting approval for recently announced acquisitions

• Exco Technologies - $XTC.to

  • released fiscal Q1 2023

    • I was expecting a dividend raise, but they kept to focus capital on their growth initiatives

    • margins still under pressure

    • cyber security issue to have a $0.01-0.03/share impact in Q2

    • expecting gradual margin improvement in the year

Long - $STC.to & $SANG, $FTG.to, $XTC.to