Philippe Bergeron-Belanger |
Ackroo Inc. (AKR.V) – FY 2015 and Q1 2016 Earnings Update
Ackroo Inc. (AKR.V) recently released its 2015 annual audited financial statements as well as Q1 2016 financial results. To keep our readers informed about recent developments, here is a short update covering all the key points.
- On April 26, 2016, Ackroo released its 2015 audited financial statements. Ackroo slightly beat our expectations on revenue and gross profits, but missed on EBITDAS by a little more than 3%.
- On May 5, 2016, Ackroo reported its Q1 2016 results, the best quarter in the company’s history.
- On May 11, 2016, Ackroo made a final amendment to the payment terms for Dealer Rewards Canada acquisition: i) $330K by July 1, 2016, and ii) 24 monthly payments of $36,916 beginning in January 2017.
- The private placement at 0.20$ announced on March 18, 2016, will close by the end of May. The debt restructuring has reduced the company’s capital requirements and hence, CEO Steve Levely expects to raise a lesser amount than the previously stated goal of $2M.
- Our investment thesis and 3-year financial model remain unchanged with a price target of 0.51$, a 137% return potential from current share price.
FY 2015 and Q1 2016 Earnings Update: 20160518-Espace-MicroCaps-AKR-FY2015-and-Q12016-Earnings-Update
Our Initiation Report: 20160421 – Espace MicroCaps – AKR – Initiation Report
Disclosure: Philippe and Mathieu own shares of Ackroo Inc. Full disclosure available on page 6 of our update.