for the thread: MTP (tse) ..got a call this morning from friend who says university researchers who have been working with this company (SureFire Commerce) are calling it the next QCOM (quote/unquote) ..am looking into it further, but just bought a little a $13.30 Cdn.....looks very interesting so you may want to do your own DD and keep an eye on it...
News Story
MTP - Toronto
Only End-to-End e-Commerce Solution Provider for SMBs in North America
TORONTO, Feb. 1 /CNW/ - SureFire Commerce Inc. (TSE: MTP), an e-commerce
solutions provider, today announced its financial results for the three-month
period ended December 31, 1999. Revenues were up 265 per cent over the same
period last year. This is a result of growth in E-commerce related revenue
from its newly acquired transaction processing division. Results on the
quarter also show a positive EBITDA of $934,000 (earnings before interest,
income taxes, depreciation and amortization).
SureFire Commerce reported revenues of $8.7 million, up from $2.4 million
reported for the same period last year. SureFire Commerce anticipates
generating this level of revenue or greater as it moves forward.
In the third quarter, SureFire Commerce transformed itself into one of
North America's only complete end-to-end e-commerce solutions provider for
small and medium-sized business through two significant e-commerce
acquisitions and a strategic alliance. The company also changed its name from
Micro Tempus to SureFire Commerce to further reflect this transformation.
"Through strategic acquisitions and alliances, we are evolving to become
the only North American company with a complete end-to-end e-commerce solution
for small and medium business customers," said Rory Olson, President and CEO
of SureFire Commerce. "By offering our merchant enabling and transaction
processing solutions to financial institutions, telecommunications companies
and Internet Service Providers (ISPs), we can help them to serve their
merchant-customers -- a growing market that is currently being underserviced."
In December, SureFire Commerce acquired BCE Emergis Inc.'s Sports and
Entertainment Division, as well as signed a letter of intent to acquire
Stumpworld Systems, Inc., a Boston-based e-commerce company. The Stumpworld
acquisition, scheduled to close in February 2000, includes a popular online
shopping portal, BuyItOnline.com, and its award-winning software Online
Merchant(TM). SureFire also entered into a strategic alliance with SKG
Interactive Inc. and NorstarMall.ca to become the preferred merchant enabling
and transaction processing partner.
"Our strength goes beyond our proprietary technology," said Joel Leonoff,
Executive Vice President and Chief Operating Officer of SureFire Commerce.
"The full power of what we have built is an expertise to get businesses online
quickly and affordably, and provide the marketing, customer loyalty, and
fulfillment programs essential for them to succeed."
The SureFire Commerce solution will provide a web storefront creation
program; secure hosted environment; access to a well-trafficked portal;
affiliate marketing programs such as electronic couponing and loyalty
programs; 24 hour merchant help desk; online shipping and fulfillment; and a
unique online shopping cart. Merchants will also benefit from transaction
processing services such as settlement, reporting, reconciliation and fraud
detection.
"This quarter is a new beginning for a new company, operating on an
entirely new business model," stated Mark Krakower, Senior Vice President,
Corporate Affairs and CFO for SureFire Commerce. "This growth shows the
initial acceptance of our solution, which is even more significant considering
that this has been accomplished in a very short period of time without the
benefits of any major marketing initiative."
Over the next six months, the company intends to achieve a number of
milestones: expanding a mission critical, fault tolerant, infrastructure for
hosting applications; enhancing its call centre to handle anticipated
increases in volumes from merchants going online; and increasing the number of
developers and coders. They also anticipate continued significant growth in
their transaction processing business and several major deals and partnerships
with resellers for their newly acquired merchant enabling solutions.
SureFire Commerce Inc. (TSE:MTP) offers small and medium-sized businesses
end-to-end e-commerce solutions using proprietary technology in the areas of
transaction processing and merchant enabling. Headquartered in Montreal,
Canada, SureFire Commerce has an office in Hull.
<<
CONSOLIDATED STATEMENT OF OPERATIONS
(unaudited) For the three For the nine
(In thousands of month period month period
dollars except earnings ended December 31, ended December 31,
(loss)per share) 1999 1998 1999 1998
-------------------- -------------------
Revenues
E-commerce revenue 7,676 - 7,676 -
Software license and
maintenance revenue 982 2,371 3,178 4,498
-------------------- -------------------
Total revenue 8,658 2,371 10,854 4,498
Cost of revenues 4,292 133 4,551 557
-------------------- -------------------
Gross margin 4,366 2,238 6,303 3,941
Expenses
Research and development 840 467 2,346 1,432
Sales and marketing 1,421 1,072 2,894 2,900
General and administrative 1,238 602 2,371 1,270
Interest expense (income) (171) 7 (154) 26
-------------------- -------------------
3,328 2,148 7,457 5,628
-------------------- -------------------
Earnings(loss) before
undernoted items 1,038 90 (1,154) (1,687)
Write-off of expired tax
credits receivable 25 104 128 116
Amortization of strategic
alliance 167 - 167 -
Amortization of goodwill 2,464 - 2,464 -
Reorganization costs - - 2,075
-------------------- -------------------
Net loss $ (1,618) $ (14) $ (5,988) $ (1,803)
Loss per share - basic $ (0.02) $ - $ (0.10) $ (0.04)
Earnings(loss) per share
before goodwill
amortization - basic $ 0.01 $ - $ (0.06) $ (0.04)
-------------------- -------------------
Weighted average number of
shares outstanding 79,930,830 47,111,809 58,628,625 47,111,809
--------------------- ---------------------
Consolidated Balance Sheet
(In thousands of dollars)
As at December 31, As at March 31,
1999 1999
(Unaudited) (Audited)
$ $
------------------ ------------------ |
