Business
BSM Reports Q3-2006 Revenues of $901,835 - An Increase of 156 %
BSM Reports Q3-2006 Revenues of $901,835 - An Increase of 156 %.
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\n\n\n\n\nSymbol: GPS (TSX-V)\n\nMISSISSAUGA, ON, Aug. 16 /CNW/ - BSM Technologies Inc, (GPS: TSXV)\n(http://www.bsmtechnologies.com) a leading provider of high security vehicle\ntracking and surveillance solutions, is pleased to report that Third Quarter\nrevenues for the three months ended June 30, 2006 increased by 156% to\n$901,835, compared to $352,168 for the same period in 2005.\n\nRevenue\n--------\n\nRevenue for the three months ended June 30, 2006 increased by 156% to\n$901,835 from $352,168 for the three months ended June 30, 2005. Revenue for\nthe period was 47% higher than for the previous three months ended March 31,\n2006. For the first nine months of 2006, BSM generated revenue of $1,988,119,\nrepresenting a 92.29% increase over the same period in 2005.\n\nGross Profit\n------------\n\nGross profit for the three months ended June 30, 2006 was $419,594, an\nincrease of 130% compared to gross profit of $182,681 in the third quarter of\n2005. As a percentage of revenues, gross profit was 46.53% compared to 51.87%\nfor the three months ended June 30, 2005.\n\nOperating expenses\n------------------\n\nOverall, operating expenses before SR & ED credit, stock based\ncompensation expenses, interest expenses and amortization of capital assets,\nincreased by $561,356 to $911,923 for the three months ended June 30, 2006,\nfrom $350,567 for the three months ended June 30, 2005. The increased\noperating expenses contained a number of one-time non operating expenses of\n$80,991.\n\nLoss from Operations\n--------------------\n\nNet loss for the three months ended June 30, 2006 was $526,447 or $0.01\nper share on a diluted basis, compared with $140,461 or $0.01 per share on a\ndiluted basis, for the three months ended June 30, 2005. The net loss per\nshare for the period was also impacted by an increase in the weighted average\nnumber of common shares from 10,517,344 to 41,774,349 for the three months\nended June 30, 2005 and 2006.\n\nLiquidity and Capital Resources\n--------------------------------\n\nAt June 30, 2006, the Company's working capital deficiency was $154,827\nas compared to working capital of $16,078 at the same time last year.\n\nSubsequent event:\n\nIn July 2006, the Company closed a debenture financing and issued\nConvertible Debentures in the aggregate amount of $1,300,000.\nIn July 2006, Nick Cirella the ...