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PGV.V - Prodigy Ventures Corp.

Discussion in 'Canadian Stocks' started by Theoilguy55, Jan 7, 2016.

  1. Theoilguy55

    Theoilguy55 New Member

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    Prodigy Ventures Inc Report

    This is a recently restructured company. Previously (71 Capital Corp, symbol SVN.V)

    Symbol: PGV.V
    Price: $0.10
    Common Shares: 25,688,232
    Insider Holdings: 90% as per Sedi. One insider alone owns 86.8%
    website: http://www.prodigy.ventures/

    Most recent financials Q2(Ending September 30th)

    Assets
    Cash: $772,353
    Accounts Receivable: $1,363,396
    Unbilled Receivables: $86,671
    Prepaid Expenses: $11,019
    Property: $20,309
    Total Assets: 2,253,748

    Liabilities
    Accounts Payable: $953,851
    Deferred Revenue: $122,723
    Provision for income tax: $81,559
    Current Portion of long-term debt: $83,432
    Advanced from shareholder: $2,872
    Long-term debt: $230,008
    Total Liabilities: $1,474,445

    Three Month Sales Q2
    2015 Revenue: $2,335,971 (2014 $579,703)
    2015 Gross Profit: $931,118 (2014 $99,310)
    2015 Net Income: 204,153 (2014 $28,740)

    Six Month Sales Q2
    2015 Revenue: $3,611,424 (2014 $968,009)
    2015 Gross Profit: $1,242,659 (2014 $119,942)
    2015 Net Income: $293,148 (2014 $47,228)

    Earnings per share after two quarters is $0.011c

    MD&A Highlights from Q2

    Prodigy is comprised of two main business units: Prodigy Labs and a “venture builder” business. Prodigy Labs is Prodigy's technology services business, a trusted technology supplier to leading Canadian financial institutions, providing clients with consulting services for strategy, design, project management, application development, staff augmentation and services related to Prodigy's business platforms. It provides these technology services to the aforementioned clients. Prodigy Labs' technology consulting services currently represent 100% of Prodigy's revenue.

    Prodigy is also a “venture builder”. This unit (“Prodigy Ventures”) is creating new business platforms and applications in many of the highest growth technology segments: mobile video, wearables, proximity marketing, mobile payments, augmented reality, 3D and social. Prodigy Venture's business platforms and applications are 4 or will be designed to deliver B2B, B2C, P2P (Peer to Peer) and IoT (Internet of Things) capabilities. Prodigy’s research and development expenses are related solely to the venture builder business.

    Vision and Strategy Prodigy's vision and strategy consists of two tracks. The first track is to aggressively expand its services business, Prodigy Labs, into new market segments, new technologies, and a broader geographic reach. The second track is to create growth as a venture builder by building and marketing its innovative new business platforms and applications. Management of Prodigy believes that there are a number of primary strategic benefits to operating a services business and venture builder business within one company. 1. Growth multiplier;
    2. Top talent attraction and retention;
    3. Shared management resources;
    4. Shared infrastructure, administration, marketing and sales;
    5. Streamlined access to capital for all ventures; and
    6. Portfolio approach to new ventures.

    To read more, I suggest either going through Prodigy Ventures MD&A on Sedar, because it is too long to post on here. Or else visit their website to get additional product information.
     
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