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Thread: GB.V - Ginger Beef Corporation

  1. #1
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    GB.V - Ginger Beef Corporation

    Ginger Beef Corporation (GB.V) Due Diligence Report

    Price: $0.17
    Common Shares: 13,670,997
    Insider Holdings: 9,799,819 or 72% (As per the July 28th Information Circular Sheet)
    Website: www.gingerbeef.com

    ASSETS
    Cash: $296,655
    Accounts Receivable: $591,043
    Due from parties: $61,882
    Due from shareholder: $150,000
    Inventory: $310,578
    Tax Recoverable: $17,310
    Prepaid Expenses: 25,905
    Property & Equipment: $1,296,455
    Total Assets: $2,749,829 (2015 - $2,456,841)

    LIABILITIES
    Accounts Payable: $337,817
    Wage Payable: $1,447
    Employee Deduction: $3,435
    Current portion of capital lease: $23,963
    Current portion of long term debt: $85,905
    Deferred Income: $91,667
    Deferred Income Tax: $34,000
    Capital Lease obligation: $102,348
    Long term debt: $79,037
    Total Liabilities: $760,219 (2015 - $706,482)

    9 Month Sales - $4,033,706 (2015 - $4,000,019)
    9 Month Net Income - $239,251 (2015 - $106,419)
    Earnings Per Share - $0.018 (2015 - $0.008)

    Quarterly Profit Breakdown
    Q1 2016 - $92,117 (2015 - $85,520)
    Q2 2016 - $70,381 (2015 - $1,795)
    Q3 2016 - $74,388 (2015 - $22,104)
    In 2015 the company earned $152,233 on $5,288,698 in sales

    MD&A Highlights from Q3

    Ginger Beef Corporation is a food company based in Calgary, Alberta, which operates through two wholly-owned subsidiaries, Ginger Beef Express Ltd., (“Express”) and Ginger Beef Choice Ltd. (“Choice”). Express oversees a number of franchised take out/delivery service restaurants in Alberta, while Choice produces a number of frozen and ready-to-serve deli Chinese food products for distribution to retail outlets. After the modernization of its facility in the winter of 2002, the Company was certified and granted a license by the Canadian Food Inspection Agency that allows the Company to ship its products, fresh or frozen, to all provinces in Canada. The Company has been actively engaged in the development of new food products, as well as in the improvement of its existing product lines in order to increase its market share.

    The Company’s gross revenue was relatively stable compared to comparative periods in prior year. However, the Company’s gross margins had been improved significantly, which had resulted in increased net income before taxes in the first three quarters of 2016 by $212,832 as compared to the same period in 2015.

    The Company’s gross revenue in the third quarter of 2016 was $1,477,239, 3.2% higher than the same period in 2015. The Company’s gross revenue in the first three quarters of 2016 was $4,215,279 or 0.7% higher than for the same period in 2015. Slightly higher revenues are primarily a result of increased selling price. Furthermore, the improved gross margin had resulted in increased net income.

    The Company’s deli Chinese food products are sold nationally across Canada. Gross revenue in the third quarter of 2016 was $1,418,951, 5.1% higher than in the same period of 2015. Gross revenue in the first three quarters of 2016 was $4,033,706, 0.8% higher than in the same period of 2015.

    The Company’s other source of revenue, royalties and franchisee fees are relatively stable. Net royalties and franchise fees in the third quarter of 2016 were $58,288, 26.57% less than in 2015. Net royalties and franchise fees in the first three quarters of 2016 were $181,573, 0.9% less than in 2015. Total royalties and franchise fees for the three quarters of 2016 and 2015 were relatively stable. It varied slightly during each quarter as a result of normal business cycles.

    The Company’s net income in the third quarter of 2016 was $ 74,388 or $ 0.005 per share, compared to net income of $ 22,104 or $ 0.002 per share for the same period in 2015. The Company’s net income in the first three quarters ended September 30, 2016 was $ 239,251 or $ 0.018 per share, compared to net income of $ 106,419 or $0.008 per share for the same period in 2015. The Company’s EBITDA in the third quarter ended September 30, 2016 was $ 144,403, compared to $57,966 in 2015. The Company’s EBITDA in the first three quarters of 2016 was $434,581, compared to $216,887 in 2015.The increased EBITA was duty from increased revenue and gross margin.

    As of November 29, 2016, the Company had 13,670,997 issued and outstanding common shares. The Company announced on November 5, 2013 that it had filed with the TSX Venture Exchange a Notice of Intention to Make a Normal Course Issuer Bid (the “Bid”) which shall commence on November 8, 2013 and terminate on November 7, 2014 or the earlier of the date all shares which are subject to the Normal Course Issuer Bid are purchased. As of November 29, 2016, the Company has acquired for cancellation 155,500 common shares at an average price of $0.11

  2. #2
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    GB.V touched a 10 year higher this week, still very inexpensive given their balance sheet, earnings, insider holdings and common shares issued.

  3. #3
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    Ginger Beef arranges 683,540-share buyback



    2017-02-15 16:33 MT - News Release


    Mr. Stanley Leung reports

    GINGER BEEF CORPORATION ANNOUNCES PLANS TO REPURCHASE COMMON SHARES

    Ginger Beef Corp. has filed with the TSX Venture Exchange a notice of intention to make a normal course issuer bid which is expected to commence on Feb. 21, 2017, and terminate on Feb. 20, 2018, or the earlier of the date all shares which are subject to the normal course issuer bid are purchased.

    In the opinion of the board of directors of Ginger Beef, the market price of the common shares of Ginger Beef does not accurately reflect the value of those shares. As a result, the corporation intends to repurchase Ginger Beef's common shares that may become available for purchase at prices which make them an appropriate use of funds of the corporation.

    Ginger Beef intends to attempt to acquire up to an aggregate of 683,540 of its common shares over the next 12-month period, representing approximately 5 per cent of the issued and outstanding common shares of Ginger Beef.

    Purchases subject to the normal course issuer bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange. The member through which the normal course issuer bid will be conducted is Raymond James Ltd., Calgary, Alta. All common shares purchased by Ginger Beef under the normal course issuer bid will be cancelled.

    © 2017 Canjex Publishing Ltd. All rights reserved.

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