One small step at a time... The company has reimbursed all of his previous debts and now has a positive working capital.
2018 numbers should come in at 4.45M$ and 450-500k in EBITDA. They could raise debt for their next acquisitions based on pro forma numbers which leaves plenty of leverage power. There is good debt floating around for software rollup plays, just look at QIS.
AKR.v - Ackroo secures $500,000 loan from SOFII
2019-03-04 10:09 ET - News Release
Mr. Steve Levely reports
ACKROO SECURES $500K LOAN TO HELP EXPEDITE GROWTH
Ackroo Inc. has secured $500,000 through a loan with the Western Ontario Community Futures Development Corporation Association (WOCFDCA) through the Southern Ontario Fund for Investment in Innovation (SOFII). Under the terms of the loan, Ackroo received the full $500,000 less legal costs on closing. The loan will bear an 8-per-cent interest rate over a 60-month term with interest-only payments owed during the first six months and then 54 equal payments of interest and principal payments. The company will use these proceeds to accelerate several marketing and product-related initiatives.
"Gaining access to additional non-dilutive growth capital via a favourable lender like SOFII is an exciting win for the company and our shareholders," commented Steve Levely, chief executive officer of Ackroo. "As we continue our next phases of growth leveraging debt is an important priority for the company. In the past, these facilities were not available to us without paying very high interest rates and closing costs while also providing warrant coverage. With the company not only earnings positive but now also cash flow positive, we are in a great position to service debt from lenders like SOFII which further amplifies the exciting inflection point the company has reached. These funds and others we are pursuing will help us further accelerate our organic and inorganic growth plans and has us very poised for some exciting growth ahead."
"Ackroo has a powerful finance and marketing solution that helps business attract, engage and grow their customers while increasing revenues," said David Penton, director of the Southern Ontario Fund for Investment in Innovation (SOFII). "We are very excited to be a part of their success story."
About Ackroo Inc.
Ackroo provides merchants of all sizes a robust, cloud-based multicurrency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a software-as-a-service-based business model, Ackroo provides an in-store and on-line automated solution to help merchants process gift card, loyalty and promotional transactions at the point-of-sale; to provide key administrative and marketing data; and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist its merchants with utilizing Ackroo's technology solution. |
