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IPD.V - International Parkside Products

Discussion in 'Canadian Stocks' started by Theoilguy55, Sep 10, 2015.

  1. Theoilguy55

    Theoilguy55 New Member

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    This is a thinly traded stock, but I like it for the dividend potential and volume could increase as sales increase. Due to sales increasing and the US/CDN exchange, I believe this will be the least expensive yearly dividend paying stock on the market. In prior years, IPD paid dividends with the exception of 2014 due to the Russian sanctions and loss of sales in the Ukraine. Today, IPD has 19 products in 61 countries through it's subsidiary (Lenspen)

    IPD Q3 Results Ending April 30th 2015

    Price: $0.10c
    Common Shares: 15,617,670
    Insider Holdings: 8.64 million (45%)

    Website: http://www.lenspen.com/

    ASSETS
    Cash: $96,614
    Accounts Receivable: $230,970
    Inventory: $215,954
    Prepaid Expenses: $13,864
    Short Term Investments: $263,168
    Property & Equipment: $570,452
    Licensing Rights: $108,817
    Total Assets: $1,499,839 (Down from $1,884,071 last quarter)

    LIABILITIES
    Accounts Payables: $228,024
    Customer Deposits: $22,594
    Total Liabilities: $250,618 (Down from $369,138 last quarter)

    9 Month Sales Revenue: $3,068,004
    Gross Profit: $1,280,260
    Net Earnings: $107,494

    IPD MD&A Highlights

    Parkside Optical manufactures and distributes to wholesale distributors the following optical lens cleaning devices: LensPen, PEEPS, DigiKlear, Mini-Pro, Mini-Pro II, MicroPro, CellKlear, MobileKlear, FilterKlear, Vidimax, Laptop Pro, Panamatic, SensorKlear, SensorKlear Loupe, SmartKlear, ScreenKlean, screen cleaning kits, HunterPro Kits, Photo Kits, RangeKlear, DSLR Pro kits, and Microfiber cloth. Since the first shipment of LensPen in August 1993, the Company has expanded sales of these products to over 80 distributors in over 85 countries, and is continuously seeking to add new distributors and items to its range of cleaning devices.

    The Company experienced a decrease in revenue - $3,068,004 during the period ($3,636,258 for 2014). This translates into a revenue decrease of $568,254. The Company sells its products globally in U.S. dollars but reports in Canadian dollars, causing distortions in period to period comparisons.

    During the period Asian customers were hit by a decline in the SLR camera market, as were customers in Russia and Ukraine. Additionally, disruptions due to war, economic problems and currency decline against the USD have negatively impacted Russian and Ukrainian customers’ ability to purchase the Company’s products and sell them through in their retail markets. Revenues from Russia have decreased by 85% since fiscal 2013 and revenues from the Ukraine are down 80%. Markets in Japan, Germany and the UK however are up between 10 and 25% and Management remains optimistic in these areas. The Company’s Board of Directors responded to the negative events in the important Russia and Ukraine markets by directing management to begin cost cutting measures.

    The Company’s second quarter financial statements are a testament to the success of those measures instituted by management.

    Parkside attended the Vision West Expo in Las Vegas, Vision East Expo in New York, Photokina in Germany, the SHOT Show and CES in Las Vegas, MIDO Optical Fair in Milan, Italy, the Photography Show in the UK and the FVF show in Lodz, Poland. These shows are a valuable tool to find new distributors and assist existing distributors.

    Following the trade shows, new distribution was added in the USA, Norway, Spain, Portugal, Andorra, Serbia, Poland, the Czech Republic, Slovakia and India. Other major prospects are still in development and the Company has an extremely bullish outlook for its new eyeglasses and sunglasses lens cleaner PEEPS.

    In the second quarter, Essilor began a private label program with the Company’s PEEPS product. Essilor is one of the largest manufacturers of corrective lenses in the world and is the single largest manufacturer of ophthalmic lenses.

    In addition to the above, the Company has paid off all loans outstanding; consequently, the Company is completely debt-free except for current trade payables

    While the Company is economically dependent on one supplier that provides substantially all the products the Company sells, management is of the opinion that should it be necessary, the Company could arrange for an alternate source of product supplies with minimal impact on operations. For the period ended April 30, 2015, the Company had two customers accounting for more than 10% of total sales as follows: 17% and 15%. (2014 – 1 customer as follows: 20%). As at April 30, 2015, the Company had three customers that account for more than 10% of total accounts receivable as follows: 38%, 37% and 13%. (2014 – 3 customers as follows: 54%, 15% and 12%)

    During the year ended July 31, 2014, the Company entered into a Licensing agreement pursuant to a new formula for the Company’s cleaning products. The terms of the licensing agreement will be that Richard Darrow (the “Licensor”) will be paid (and has been paid) the sum of US $100,000 for development reimbursements (non-refundable) along with an earned royalty equal to US $0.0625 per unit for each of the units/products sold, with a minimum guarantee of $100,000 per year. As of April 30, 2015 the Company has paid Richard Darrow $50,000 USD (2014 - $nil) in earned royalties and has accrued $25,000 (2014 - $nil). The Licensing agreement is for a term of 18 years expiring in fiscal 2031. On termination, merger, change of control or death, the agreement provides that the Licensor is entitled to receive on royalties for 18 years from the date of the agreement.

    The Company is not exposed to a significant amount of liquidity risk. As at the period ended April 30, 2015, the Company had positive working capital of $569,952 (April 30, 2014 - $783,582). The accounts payable and accrued liabilities balance is expected to be covered through the collection of accounts receivable balances and from current cash balances. The Company is not reliant on external financing.

    The Company's objectives when managing capital are: to safeguard its ability to continue as a going concern; and to have sufficient capital to be able to fund the operation of the Company for the benefit of its shareholders.
     
  2. Theoilguy55

    Theoilguy55 New Member

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    IPD.V Year End Results(Ending July 31 2015)

    My Notes:

    - Very strong year for earnings and growth

    - Good chance of a dividend being reinstated. Between 2012-2013 it was $0.01ceps for the year.

    - Q1 2016 results will be out in December, only a few weeks from now

    Symbol: IPD
    Price: $0.065
    Common Shares: 15,617,670
    Insider Holdings: 10,141,992(65% as per SEDI)
    Subsidiary website: http://www.lenspen.com/
    Company website: www.ipd.ca (currently be updated)

    ASSETS
    Cash: $185,100
    Accounts Receivable: $273,704
    Inventory: $207,648
    Prepaid Expenses: $38,373
    Investments: $261,063
    Equipment: $644,766
    License Rights: $166,150
    Total Assets: $1,726,804 (July 31 2014 was $1,537,338)

    LIABILITIES
    Accounts Payable: $259,313(July 31 2014 was $391,039)

    Sales Revenue: $4,214,046
    Gross Profit: $1,809,704
    Expenses: $1,496,254
    Net Income: $321,192

    Earnings per share: $321,192 / 15,617,670 = $0.02056 or $0.021c EPS.

    An established profitable junior should be trading at minimum 10 times earnings per share. Adding a dividend would increase the value substantially.

    MD&A Highlights

    Description of business
    The Company, through its wholly owned subsidiaries, Parkside Optical Inc. (“Parkside Optical”) and EIC Energy Interface Inc. (“EIC”), is in the business of producing and marketing innovative optical, screen cleaning and eyeglass cleaning products using the Company’s patented carbon black technology and the new light carbon formula for international distribution. Parkside Optical manufactures and distributes to wholesale distributors the following optical lens cleaning devices: LensPen, PEEPS, DigiKlear, Mini-Pro, Mini-Pro II, MicroPro, Smartphone camera cleaner, Laptop Pro, ScreenKlean, FilterKlear, DSLR Pro Kit, SensorKlear, SensorKlear Loupe Kit, SmartKlear, HunterPro Kits, Outdoor Pro Kits, FogKlear, Photo Pro Kits, Hurricane blower and Microfiber cloth. Since the first shipment of LensPen in August 1993, the Company has expanded sales of these products to over 80 distributors in over 85 countries, and is continuously seeking to add new distributors and items to its range of cleaning devices.

    Performance summary
    The Company experienced a decrease in revenue - $4,214,046 during the year ($4,491,769 for 2014). This translates into a revenue decrease of $277,723. The Company sells its products globally in U.S. dollars but reports in Canadian dollars, causing distortions in period to period comparisons.

    During the year Asian customers were hit by a decline in the SLR camera market, as were customers in Russia and Ukraine. Additionally, disruptions due to war, economic problems and currency decline against the USD have negatively impacted Russian and Ukrainian customers’ ability to purchase the Company’s products and sell them through in their retail markets. Revenues from Russia have decreased by 85% since fiscal 2013 and revenues from the Ukraine are down 80%. Markets in Japan, Germany and the UK however are up between 10 and 25% and Management remains optimistic in these areas. The Company’s Board of Directors responded to the negative events in the important Russia and Ukraine markets by directing management to begin cost cutting measures. The Company’s financial statements are a testament to the success of those measures instituted by management.

    Parkside attended the Vision West Expo in Las Vegas, Vision East Expo in New York, Photokina in Germany, the SHOT Show and CES in Las Vegas, MIDO Optical Fair in Milan, Italy, the Photography Show in the UK and the FVF show in Lodz, Poland. These shows are a valuable tool to find new distributors and assist existing distributors.

    Following the trade shows, new distribution was added in the USA, Norway, Spain, Portugal, Andorra, Serbia, Poland, the Czech Republic, Slovakia and India. Other major prospects are still in development and the Company has an extremely bullish outlook for its new eyeglasses and sunglasses lens cleaner PEEPS.

    In the second quarter, Essilor began a private label program with the Company’s PEEPS product. Essilor is one of the largest manufacturers of corrective lenses in the world and is the single largest manufacturer of ophthalmic lenses.

    In addition to the above, the Company has paid off all loans outstanding; consequently, the Company is completely debt-free except for current trade payables.
     
  3. Theoilguy55

    Theoilguy55 New Member

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    IPD.V Q1 Results (Ending October 31st 2015)

    My Notes:
    - Another Profitable Quarter
    - Major deal signed with Rinowa s.r.l who is a major distributor in the Italian market
    - All IPD products sold in US dollars, this will add additional revenue in conversion to CAD

    Symbol: IPD
    Price: $0.08c
    Common Shares: 15,617,670
    Insider Holdings: 10,141,992 (65% as per SEDI)
    Website: www.lenspen.com

    Assets
    Cash: $215,960
    Accounts Receivable: $184,898
    Inventory: $210,488
    Prepaid Expenses: $84,678
    Short-Term Investments: $225,481
    Equipment: $630,248
    Licensing Rights: $114,276
    Total Assets: $1,666,029

    Liabilities
    Accounts Payable: $196,527
    Customer Deposits: $47,917
    Total Liabilities: $244,444

    Q1 2015
    Sales: $926,373
    Net Income: $41,997 or $0.0027c eps
    **Cost of trade shows was up substantially, next quarter will be better**

    Recap of 2014 Year End Results
    Sales: $4,214,046
    Net Income: $319,127 or $0.02c EPS.

    Over 5 quarters:
    Sales: $5,140,419
    Net Income: $ $361,124 or $0.023c EPS

    Stock is trading at less than 4 times earnings which is very low

    I was hoping for a dividend this year, but perhaps something more important is on the horizon and it will require additional funds from the company to carry forward. I believe this because IPD has been pushing harder to market its products, especially the recently added Peeps to the world. At this point it’s better if sales had the potential of growing 50% or more with additional marketing funds, I would prefer that over a dividend anyway.

    Management Discussion Highlights

    During the period, the Company attended CTIA 2015 in Las Vegas in support of its mobile device accessories and Vision West 2015 (Las Vegas) and Silmo (Paris) in support of its eyewear lens cleaning accessories, adding new customers in the United States and Europe. The Company also began sales to a new distributor to the Italian photo market, Rinowa s.r.l

    The Company began to see sales of the eyewear lens cleaning product PEEPS increase and is now pursuing a selling agreement for this item.

    In addition to the above, the Company has paid off all loans outstanding; consequently, the Company is completely debt-free except for current trade payables.

    Main expense that increased this quarter:
    Trade shows of $68,528 (2014 - $39,208) The Company continues to attend various International trade shows and in this period attended the Vision West Expo in Las Vegas, Silmo in Paris and CTIA in Las Vegas. These shows are a valuable tool to find new distributors and assist existing distributors.

    The Company is not exposed to a significant amount of liquidity risk. As at the three month period ended October 31, 2015, the Company had positive working capital of $677,061 (October 31, 2014 - $617,948). The accounts payable and accrued liabilities balance is expected to be covered through the collection of accounts receivable balances and from current cash balances. The Company is not reliant on external financing.
     
  4. Theoilguy55

    Theoilguy55 New Member

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    Int'l Parkside, Patton to form JV company Carbon Klean

    2016-01-06 14:34 MT - News Release

    Mr. Murray Keating reports

    MEMO OF AGREEMENT

    International Parkside Products Inc. has entered into a memorandum of agreement with Daniel J. Patton LLC of Columbus, Ohio, for the global marketing of its new eyeglass-cleaning device PEEPS and its line of laptop and smart phone screen-cleaning devices.

    The agreement calls for the creation of a new joint venture company named Carbon Klean LLC, which will have the global rights to the above-mentioned products. International Parkside will contribute the products and their trademarks and non-formulation patents while Patton will contribute its worldwide network of contacts in the eyewear and IT markets, as well as provide warehousing and distribution capacity.

    International Parkside will own 60 per cent of the JV initially and will be the sole manufacturer of the products to the JV. Patton will have 40 per cent but will have the ability to reach 50 per cent by achieving sales of one million units (approximately $4-million) over the initial two years of the deal.

    International Parkside will provide initial marketing funds of up to $100,000 (U.S.) by way of a two-year 6-per-cent loan to the JV.

    President of International Parkside's eyewear division, Peter Meurrens, stated, "This arrangement will give us the reach in the eyewear and IT markets that might have been impossible for us to achieve on our own."

    © 2016 Canjex Publishing Ltd. All rights reserved.
     
  5. Theoilguy55

    Theoilguy55 New Member

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    IPD made it official on their social media channels today about the deal with Target through their JV partner Carbon Klean. Pretty good deal I think. $100,000 JV loan could increase our sales by millions now and International Parkside Products is already making profits every quarter and increase it's cash position. The odds of a dividend this year look much more likely and possibly could exceed the original $0.01c divy they paid back in 2012 and 2013.

    https://www.facebook.com/lenspengroup

    Amazing news from our USA joint venture company, CarbonKlean: the SmartPak that we make for them for cleaning smartphone camera lenses and screens will be available this April in all 1,700 Target stores in the USA! See below and please feel free to give a Like to the CarbonKlean page as well!

    JV Partner's website: http://carbonklean.com/
     
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