October 2020 Update - $OSS.v, $ISDR, $PSD.to, $STC.v, $FTG.to, $PTG.to, $VLN.to
Here is a quick update for the month of October 2020 for some names mentioned on the blog.
OneSoft Solutions ($OSS.v)
Announced first new customer win in 18 months
Pretty big deal given the long wait
Still looking for more customer wins in order to move the share price
Issuer Direct ($ISDR)
Reported Q3 and was really well yoy
Share price has doubled since I purchased and is no longer cheap on trailing numbers
I still see potential in the business
Pulse Seismic ($PSD.to)
EdgePoint picked up 3.1 mil shares during a private transaction. They increased their ownership to 24.60%, up from 18%.
This is not anywhere near their top 10 in position size, so somewhat of a non-event.
Sangoma Technologies Corp ($STC.v)
Reported fiscal Q4
Good quarter and encouraging outlook
Beat previous guidance and issued new 2021 guidance
EV/REV
EV/EBITDA
Firan Technology ($FTG.to)
Reported numbers and held a conference call
Numbers were better than I would have guessed
Managing the covid precautions well
Have 3.1 mil in PPP
Backlog of 47M of which 26M due in fiscal Q4
Likely won’t deliver all though
Polar Asset Management picked up some more shares
They now own 13% of the outstanding
Non-event to me as this isn’t a top 10 holding for them.
Pivot Technology Solutions ($PTG.to)
Shareholders officially approved the arrangement for $2.60
Velan ($VLN.to)
Reported numbers and held a conference call
Quarter was a little weaker than I anticipated
Some additional costs with forex swings, land clean up with sale of plant, continued restructuring,
Took over 4 mil in wage subsidy which would have made things worse
Good news
V20 plan progressing well and seeing some benefit to the business ahead of schedule
Backlog is up as book to bill was over 1.2
Gross margins are steady
Most important to long term – the company now has it’s first independent chairman who has lots of industry experience. This is the Velan family moving to independent leadership. I’m a big fan.