| An SI Board Since April 1998 |
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| Emcee:
Ally
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Unmoderated
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A write-up in the Financial Post (April 2, 1998) about an interesting niche software company caught my eye. "About a month ago, a Vancouver software company Gemcom Software International Inc. signed a partnership agreement (with Tech Corp) that changed its fortunes overnight", wrote Amanda Lang of FP.
Gencom operates in Canada, the United States, the United Kingdom and Australia in the development, marketing and sales of software systems for the mining and mineral exploration industry. There are about 750 companies around the world using its software. Sales are $3.5 mill, $4.9 mill, and $6.6 mill (estimated) for fiscal years ending Mar. 31 96,97, and 98 respectively. Comes to average annual growth of 35%. It was profitable for 96 and 97, and for the 9 months ending Dec 31/97, the profit was $122,953.
Teck Corp.developed EQWin for its own use and began selling it to others in 1993. Approximately 100 external systems are now in place with an estimated value of $750,000. "There is tremendous
market potential for this product and it's largely untapped," says Peter Franklin, president and CEO of Gemcom. "As a mining company, Teck naturally concentrated on its peers as potential customers. But EQWin can be used in any industry where environmental considerations are a factor. The City of Vancouver purchased the software to monitor activities at the Burns Bog landfill. As concern for environmental protection grows, so does the market for EQWin."
Anyone else thinks this is an interesting situation where a stake could bring nice returns in the future?
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