En attendant l’annonce de clôture du placement qui devrait avoir lieu aujourd’hui, un petit article qui décrit comment Dirk (CEO) a sauvé la vie d’une dame au restaurant. Il a reçu hier, le 5 février, un honneur de bon samaritain de la part des paramédics de Nanaimo :
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Atlas Engineered Products Announces Closing of Oversubscribed Private Placement for Gross Proceeds of Over $4.5 million
02/10/2020 8:35:00 AM
NANAIMO, BC, Feb. 10, 2020 /CNW/ - Atlas Engineered Products (“AEP” or the “Company”) (TSX-V: AEP; OTC Markets: APEUF) is pleased to announce that it has closed its previously announced non-brokered private placement offering for gross proceeds of $4,597,253.60 (“the Offering”). The Offering was previously announced on December 16, 2019 for proposed gross proceeds of up to $4,250,000.
The Company issued a total of 11,493,134 units (each a “Unit”) under the Offering at a price of $0.40 per Unit. Each Unit under the Offering consists of one AEP common share (a “Common Share”) and one non-transferrable Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.60 per share for a period of two years from the date of issuance.
Directors and officers purchased a total of 475,000 Units for gross proceeds of $190,000. Employees of AEP purchased an additional 307,500 Units under the Offering for gross proceeds of $123,000. The sale of securities to AEP’s directors and officers is exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions as the fair market value of the securities purchased in the Offering by AEP’s directors and officers is less than 25% of AEP’s market capitalization. A material change report was not filed in respect of the participation by AEP’s directors and officers as, in the opinion of management, such participation does not constitute a “material change” as defined in National Instrument 51-102 – Continuous Disclosure Obligations.
AEP’s CEO and President, Dirk Maritz, stated “We are very pleased by the strong interest in AEP that we’ve received from across North America as demonstrated by our oversubscribed private placement. As a national family of operating companies, AEP is also very proud of the continued support of our insiders and employees and commitment to our vision. We are very excited about the prospects for growth we have for the business going forward.”
The Company paid finders fees totaling $261,604 and issued 654,010 finders warrants (each a “Finders Warrant”) entitling the holder to purchase one Common Share at a price of $0.60 per share for a period of two years from the date of issuance. All securities issued in the Offering are subject to a four month and one day hold period expiring on June 7, 2020. The securities issued under the Offering have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, any securities issued under the Offering to United States purchasers may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and any applicable state securities laws, or pursuant to exemptions therefrom. AEP does not intend to file a registration statement in the United States with respect to the securities issued in the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities to, or for the account or benefit of, persons in the United States.
The net proceeds of the Offering will be used for potential acquisition targets identified by the Company, general working capital, and capital equipment upgrades.
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Bon…content de voir ça mais honnêtement 190k n’est pas ce que je considère haute participation de la part du management contrairement à ce que je vois sur Twitter depuis ce matin. Bonne nouvelle tout de même.
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Les achats décortiqués ci-dessous. Dirk aurait pris pour 120 000$, quand même un montant substantiel. Un achat sur le marché aussi de Bill Gammel :
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Il parle quelques fois d’un « Turn-around » en 2019. Je suis pas certain de saisir ?
Dirk a été nommé CEO en octobre 2018 si ma mémoire est bonne. À ce moment, l’entreprise manquait de leadership, n’avait pas des processus efficaces et n’était pas profitable. Il a effectué beaucoup de changements au niveau des opérations afin d’augmenter la croissance organique et amener l’entreprise à la profitabilité.
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Ah vu de même ça fait un peu plus de sens, merci ! J’imagine que le mot « improvement » aurait été plus de circonstances
Dirk m’a toujours semblé être un bon war time CEO. Ça se sent dans ses communications. J’aimerais reprendre position mais je pense qu’ils vont être touchés sur plusieurs trimestres encore. Waiting…
Il y avait un webinaire avec entre autre, les CEO de Renoworks et Atlas. Ça devrait être disponible en rediffusion bientôt.
J’ai manqué une bonne partie mais Dirk a mentionné que cet environnement va créer une opportunité pour des acquisitions et ce pendant plusieurs années. Je crois avoir entendu qu’ils se font déjà approcher. Plusieurs compagnies auront des manques de liquidités et risque de souffrir du manque d’investissement dans la technologie et l’optimisation de leur coût.
Il a aussi souligné de la diligence raisonnable et l’importance de trouver la meilleure structure de capital pour chaque acquisition.
Bref, rien de matériel ou de très surprenant ici et loin de moi l’idée de se réjouir du malheur des autres mais je pense que c’est la tempête parfaite pour que AEP puisse exécuter sur sa stratégie de consolidation.
Bien évidemment il y aussi des risques et un lot d’incertitudes qui entourent la construction et l’immobilier (et tout le reste pas mal…!)…ce sera intéressant à suivre.
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Faut lui donner, il sait écrire de bonnes lettres aux investisseurs (à mon goût du moins)!
Évidemment, beaucoup d’incertitudes entourant le milieu de la construction (et on le voit avec le prix de l’action) mais il y a plusieurs points positifs dans la lettre. Personnellement, j’ai un chantier en cours pour deux immeubles à revenus et j’ai besoin de compagnie comme AEP pour poursuivre les opérations qui ont recommencé Lundi.
Dans mon petit monde à moi, je vois encore beaucoup d’intérêt pour des terrains et pour la construction avec les taux d’intérêts ET de vacances historiquement bas. D’un point de vue plus négatif, les liquidités des banques s’assèchent, de gros prêteurs se sont carrément retirés du marché et on verra comment tout ça va évoluer…le financement sera sans doute plus compliqué. J’ai quand même l’impression que ceux avec des liquidités pourront faire de bonnes affaires. CASH IS KING comme il le mentionne dans la lettre!
Avec Dirk aux commandes, je suis prêt à être patient pour plusieurs années et l’entreprise pourrait ressortir de cette crise encore plus solide.
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« ALL of our locations across Canada are open for business.
The AEP footprint, by design, significantly improves and enhances our medium to long term consolidated business continuity. It also distributes and minimizes the risk of major business interruption and/or shutdown between all locations. We have 2 businesses in British Columbia, 1 in Manitoba and 3 in Ontario.
AEP has a nearly even, 45/55, revenue split between Western and Eastern operations, respectively. The geographical spread of our operations has largely softened and offset any potential impacts to revenue due to the COVID-19 pandemic. In March and April 2020, data suggests that the coronavirus did not spread across all locations and provinces at the same time, or hit all locations and its builders equally:
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BC – It appears the curve is flattening dramatically and a disciplined reopening of the economy, without risking public health, is a very real possibility in the coming weeks. Our BC operations have been diligent, and therefore have provided stronger topline revenue than prior years. We continue to win new significant contracts, and we believe that we will maintain a stronger revenue performance into the building season.
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Manitoba - Winter is gone AT LAST! To date, it appears Manitoba has seen limited impacts from COVID-19. Market activity continues to accelerate, and quoting activity continues to increase, as usual for this time of year.
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Ontario – Our Ontario operations have seen the most restrictions due to COVID-19, as mandated by the provincial government. Despite that they have had a strong revenue performance for Q1 2020. Our operations are deemed essential services, and we continue to serve our customers. With so many restrictions, we have prepared and anticipated that revenues may be down at our Ontario operations for April and/or May. That said, Spring is approaching, and we are seeing increases in quoting activity every day. We also believe that when the Province of Ontario eases its lock-down measures, in the coming weeks, we will see projects accelerating even more.
Consolidated – Up to the end of Q1 2020, AEP has seen revenues that surpass Q1 2019. This is a tremendous feat and a testament to the commitment and hard work of Team AEP .»
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AEP Announces Contract Wins at Operations Across Canada
…
Recent Highlights:
Atlas Building Systems (Nanaimo, BC) continues to expand its business with significant multi-product contracts and has been delivering on a significant Engineered Wood Product (EWP) and Truss packages for several developments across Vancouver Island. In addition to normal day-to-day sales and volumes, Atlas Building Systems has also:
- Entered new geographical markets outside of its traditional Nanaimo market. Atlas has won two new truss contracts with W&J Construction Ltd. in Langford and Seymour Pacific Developments in Port Alberni that total over $200,000;
- Completed new market penetration and product diversification. Atlas has won a Truss and EWP project with Campbell Shores Holdings in Campbell River worth more than $300,000; and
- Entered into numerous multi-level residential projects. Atlas has won a contract with Northview Apartment REIT for an EWP and Truss package for between $800,000 - $900,000, and another contract with Windley Contracting for approximately $500,000.
Coastal Windows & Doors (Nanaimo, BC) customer lists continue to grow, and project gains continue to be seen in Nanaimo. Coastal is now also making progress into the Victoria market, the North Island and other parts of BC.
South Central Building Systems (Carman, MB) is in the midst of a significant project quoting as the Prairie winter is finally subsiding.
In Ontario quoting activity and projects wins continues to increase, and Truss and EWP combo packages are starting to account for more significant new contracts. Pacer Building Components (Illderton, ON) recently secured over $400,000 of purchase orders for May and June 2020.
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Pourquoi dire que ton gross margin a augmenté de 26% en comparant Q1 avec Q4 alors que ton gross margin de FY18 et des 7 mois terminant en décembre 2018 sont aussi au même point que Q4 2019 ? En lisant le MD&A, on dirait pas que Q1-19 est vraiment différent et ils disent que les intégrations ont eu lieu a différent moment (« various timing ») durant l’année 2019.
Gross margins were also significantly improved by the year ended December 31, 2019 as compared to the start of 2019. After beginning the year with a gross margin of 19% for Q1 2019, we finished with a gross margin of 24% for Q4 2019, representing a 26% increase.
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J’imagine qu’on peut s’attendre a du 26-28% pour l’an prochain avec une croissance de 0% des ventes on augmente le profit de 500k.
C’est comme l’emploi de la métrique EBITDA per share…
Si vous voulez me signaler que vous êtes complètement perdu en finance, vous n’avez qu’à me parler de BAIIA par action.
Je vais comprendre votre message de détresse 
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J’Aurais aimé voir un résumé du cashflow per share dans leur communiqué de presse. J’imagine que c’Est pas fort… je vais creuser.
Ça c’est bizarre, quelqu’un peut m’aider?
Cashflow.
Dépréciation 2.684.486
État résultats
Dépréciation 1.482.311
… ?!?