MIRA INFORM REPORT
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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SPECTRAL DIAGNOSTICS INC |
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Registered Office : |
135-2 The West Mall, Toronto, ON M9C 1C2 |
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Country : |
Canada |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
29.07.1991 |
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Legal Form : |
Public Independent |
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Line of Business : |
The Subject manufactures and sells certain reagents. |
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No. of Employees : |
16 |
RATING & COMMENTS
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MIRAs Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Canada |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CANADA - ECONOMIC OVERVIEW
As an affluent, high-tech industrial society in the trillion-dollar
class, Canada resembles the US in its market-oriented economic system, pattern
of production, and affluent living standards. Since World War II, the
impressive growth of the manufacturing, mining, and service sectors has
transformed the nation from a largely rural economy into one primarily
industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the
1994 North American Free Trade Agreement (NAFTA) (which includes Mexico)
touched off a dramatic increase in trade and economic integration with the US
its principal trading partner. Canada enjoys a substantial trade surplus with
the US, which absorbs about three-fourths of Canadian exports each year. Canada
is the US's largest foreign supplier of energy, including oil, gas, uranium,
and electric power. Given its great natural resources, highly skilled labor
force, and modern capital plant, Canada enjoyed solid economic growth from 1993
through 2007. Buffeted by the global economic crisis, the economy dropped into
a sharp recession in the final months of 2008, and Ottawa posted its first
fiscal deficit in 2009 after 12 years of surplus. Canada's major banks,
however, emerged from the financial crisis of 2008-09 among the strongest in
the world, owing to the financial sector''s tradition of conservative lending
practices and strong capitalization. Canada achieved marginal growth in 2010-12
and plans to balance the budget by 2015. In addition, the country''s petroleum
sector is rapidly becoming an even larger economic driver with Alberta''s oil
sands significantly boosting Canada''s proven oil reserves, ranking the country
third in the world behind Saudi Arabia and Venezuela.
|
Source
: CIA |
Company name and address
SPECTRAL DIAGNOSTICS INC
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135-2 The West Mall Toronto, ON M9C 1C2 Canada
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Business Description
Spectral Diagnostics Inc. (Spectral) focuses on the development and commercialization, in North America, treatment for severe sepsis and septic shock. The Company also manufactures and sells certain reagents. Its products include Rapid Diagnostics for Sepsis, Endotoxin Activity Assay (EAA) and Toraymyxin. As of December 31, 2011, Spectral’s EAA endotoxin measurement was the only the United Sates Food and Drug Administration (FDA) cleared diagnostic on the market. Spectral Diagnostics (US) Inc. and Spectral Diagnostics (New Brunswick) Inc. are its subsidiaries. For the three months ended 31 March 2013, Spectral Diagnostics Inc revenues increased 5% to C$708K. Net loss decreased 8% to C$2.1M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Lower net loss reflects Management services decrease of 73% to C$100K (expense), Regulatory and investor relations decrease of 61% to C$48K (expense).
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
3250 -
Manufacture of medical and dental instruments and supplies |
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NACE Rev 2: |
3250 -
Manufacture of medical and dental instruments and supplies |
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NAICS 2012: |
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UK SIC 2007: |
3250 -
Manufacture of medical and dental instruments and supplies |
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US SIC 1987: |
3844 -
X-Ray Apparatus and Tubes and Related Irradiation Apparatus |
Key Executives (Emails Available)
|
Name |
Title |
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President, Chief Executive Officer, Director |
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Chief Financial Officer, Executive Vice President, Corporate Secretary |
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Vice President - Sales and Marketing |
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Adam Peeler |
IR Contact Offier |
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Vice President - Clinical Development |
Significant
Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
2 |
15-May-2013 |
||
|
1 |
Spectral
Diagnostics Inc Closes $5.6 Million Offering With Toray Industries Inc |
2-Apr-2013 |
* number of
significant developments within the last 12 months
News
|
Title |
Date |
|
Spectral
directors Lennox, McCormack resign |
26-Jul-2013 |
|
Spectral
Diagnostics Announces Board Changes CNW Group |
26-Jul-2013 |
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SDI
Spectral directors Lennox, McCormack resign |
26-Jul-2013 |
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Spectral
Diagnostics Announces Board Changes |
26-Jul-2013 |
|
Findings
from Cumhuriyet University Reveals New Findings on Geological Engineering |
24-Jul-2013 |
|
Biotech
company seeks to fill niche in pool maintenance industry |
20-Jul-2013 |
Financial Summary
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As of 31-Mar-2013 |
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Stock
Snapshot
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Traded: Toronto Stock Exchange: SDI |
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As of 19-Jul-2013 Financials in: CAD |
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ABI Number: 022971816
1 - Profit & Loss Item Exchange Rate: USD 1 = CAD 0.9996526
2 - Balance Sheet Item Exchange Rate:
USD 1 = CAD 0.99665
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ANZSIC 2006 Codes: |
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2412 |
- |
Medical and Surgical Equipment Manufacturing |
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1841 |
- |
Human Pharmaceutical and Medicinal Product Manufacturing |
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ISIC Rev 4 Codes: |
||
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3250 |
- |
Manufacture of medical and dental instruments and supplies |
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2100 |
- |
Manufacture of pharmaceuticals, medicinal chemical and
botanical products |
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NACE Rev 2 Codes: |
||
|
3250 |
- |
Manufacture of medical and dental instruments and supplies |
|
2120 |
- |
Manufacture of pharmaceutical preparations |
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NAICS 2012 Codes: |
||
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334517 |
- |
Irradiation Apparatus Manufacturing |
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325413 |
- |
In-Vitro Diagnostic Substance Manufacturing |
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US SIC 1987: |
||
|
3844 |
- |
X-Ray Apparatus and Tubes and Related Irradiation
Apparatus |
|
2835 |
- |
In Vitro and In Vivo Diagnostic Substances |
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UK SIC 2007: |
||
|
3250 |
- |
Manufacture of medical and dental instruments and supplies |
|
2120 |
- |
Manufacture of pharmaceutical preparations |
Spectral Diagnostics Inc. (Spectral) focuses on the development
and commercialization, in North America, treatment for severe sepsis and septic
shock. The Company also manufactures and sells certain reagents. Its products
include Rapid Diagnostics for Sepsis, Endotoxin Activity Assay (EAA) and
Toraymyxin. As of December 31, 2011, Spectral’s EAA endotoxin measurement was
the only the United Sates Food and Drug Administration (FDA) cleared diagnostic
on the market. Spectral Diagnostics (US) Inc. and Spectral Diagnostics (New
Brunswick) Inc. are its subsidiaries. For the three months ended 31 March 2013,
Spectral Diagnostics Inc revenues increased 5% to C$708K. Net loss decreased 8%
to C$2.1M. Revenues reflect an increase in demand for the Company's products
and services due to favorable market conditions. Lower net loss reflects
Management services decrease of 73% to C$100K (expense), Regulatory and
investor relations decrease of 61% to C$48K (expense).
More Business Descriptions
Engaged in the manufacture, commercialization and marketing
of rapid diagnostics and certain reagents
Disease Management Medical Technology Developer; Reagents,
Calibrators & Diagnostic Controls Supplier
Establishments primarily engaged in commercial physical and
biological research and development on a contract or fee basis.
Spectral Diagnostics Inc. (Spectral) is a healthcare service
provider, based in Canada. The company develops and commercializes innovative
diagnostic solutions to improve patient management. Its products include EAA,
endotoxin activity assay, a diagnostic test in the field of sepsis and RapidWN,
a west nile virus IgM test. Spectral’s diagnostic products enable improved
outcomes and better utilization of health care resources. The company produces
the products that meet the standards set by cGMP (US 21 CFR Part 820),
IS0-9001: 2000 and CAN/CSA ISO-13485-2003. It performs research and development
activities, clinical investigation and validation studies on its products under
development. Spectral is headquartered in Toronto, Ontario, Canada.The company
reported revenues of (Canadian Dollars) CAD 2.43 million during the fiscal year
ended December 2011, a decrease of 18.48% from 2010. The operating loss of the
company was CAD 6.78 million during the fiscal year 2011, as compared to an
operating loss of CAD 6.37 million during 2010. The net loss of the company was
CAD 6.71 million during the fiscal year 2011, as compared to a net loss of CAD
6.50 million during 2010.
Sepsis affects approximately 750000 patients in the U.S.
alone each year and millions worldwide. The ability to rapidly and accurately
diagnose and treat this deadly disease remains one of the biggest challenges
faced by healthcare professionals today. Using a unique and innovative
theranostics approach Spectral Diagnostics is committed to decreasing the
unacceptably high mortality rates caused by sepsis. By combining complementary
diagnostics and therapeutics or theranostics Spectrals vision is to provide
products that will enable vastly improved outcomes of patients with severe
sepsis.
Spectral Diagnostics develops technologies for comprehensive
disease management. It provides accurate and timely information to clinicians,
which enables the early initiation of appropriate and targeted therapy. The
company's products include Spectral Diagnostics' United States Food and Drug
Administration approved rapid diagnostic for sepsis, the Endotoxin Activity
Assay and its rapid West Nile Virus assay. Spectral Diagnostics manufactures the
EAA and WNV assays. It earns royalties associated with its proprietary
reagents. The company's common shares are listed on The Toronto Stock Exchange
with the symbol SDI.
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Location |
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2 The West Mall Ste:135 |
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County: |
Toronto Metropolitan |
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Phone: |
416-626-3233 |
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Fax: |
416-626-7383 |
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ABI: |
022971816 |
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Employees: |
101 |
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Business Type: |
Public |
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Location Type: |
Headquarter |
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Ticker: |
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Exchange: |
TORONTO |
Competitors Report
|
CompanyName |
Location |
Employees |
Ownership |
|
Alere Inc |
Waltham, Massachusetts, United States |
17,400 |
Public |
|
Alliance Pharmaceutical Corp. |
San Diego, California, United States |
|
Public |
|
AMAG Pharmaceuticals, Inc. |
Lexington, Massachusetts, United States |
129 |
Public |
|
Medical International Technology Inc |
Montreal, Quebec, Canada |
3 |
Public |
|
MedX Health Corp. |
Mississauga, Ontario, Canada |
7 |
Public |
|
Navidea Biopharmaceuticals Inc |
Dublin, Ohio, United States |
47 |
Public |
Executives Report
Board of Directors
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Chairman of the Board |
Chairman |
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Chairman |
Chairman |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Lead Independent Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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President, Chief Executive Officer, Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Executives
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President, Chief Executive Officer, Director |
Chief Executive Officer |
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Chief Financial Officer, Executive Vice President,
Corporate Secretary |
Company Secretary |
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Vice President - Sales and Marketing |
Sales Executive |
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Vice President, Sales and Marketing |
Sales Executive |
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IR Contact Offier |
Investor Relations Executive |
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Senior VP-Corporate Quality & Scientific Affairs |
Research & Development Executive |
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Vice President - Business Development |
Business Development Executive |
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Vice President - Clinical Development |
Other |
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Senior Vice President-Corporate Quality & Scientific
Affairs |
Other |
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Spectral Diagnostics Inc Reaffirms FY 2013 Revenue Guidance May 15, 2013
|
|
Spectral Diagnostics Inc Closes $5.6 Million Offering With Toray Industries Inc Apr 02, 2013
|
|
Spectral Diagnostics Inc Comments On FY 2013 Revenue Guidance Mar 27, 2013
|
News
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CAD |
CAD |
CAD |
CAD |
CAD |
|
Exchange Rate (Period
Average) |
0.999653 |
0.989211 |
1.030481 |
1.140783 |
1.067611 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
2.6 |
2.5 |
2.9 |
2.9 |
2.8 |
|
Revenue |
2.6 |
2.5 |
2.9 |
2.9 |
2.8 |
|
Total Revenue |
2.6 |
2.5 |
2.9 |
2.9 |
2.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
0.7 |
0.6 |
0.6 |
0.7 |
0.7 |
|
Cost of Revenue, Total |
0.7 |
0.6 |
0.6 |
0.7 |
0.7 |
|
Gross Profit |
1.8 |
1.9 |
2.3 |
2.1 |
2.1 |
|
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|
|
|
|
|
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Selling/General/Administrative
Expense |
6.9 |
5.4 |
4.2 |
3.6 |
3.1 |
|
Labor & Related Expense |
2.9 |
2.7 |
3.2 |
0.1 |
0.1 |
|
Total Selling/General/Administrative Expenses |
9.9 |
8.1 |
7.4 |
3.7 |
3.2 |
|
Research & Development |
- |
- |
- |
0.1 |
0.0 |
|
Depreciation |
0.2 |
0.3 |
0.6 |
0.6 |
0.6 |
|
Depreciation/Amortization |
0.2 |
0.3 |
0.6 |
0.6 |
0.6 |
|
Investment
Income - Operating |
0.0 |
0.0 |
0.1 |
0.1 |
-0.1 |
|
Interest/Investment Income -
Operating |
0.0 |
0.0 |
0.1 |
0.1 |
-0.1 |
|
Interest Expense (Income) - Net Operating Total |
0.0 |
0.0 |
0.1 |
0.1 |
-0.1 |
|
Other Operating Expense |
0.5 |
0.4 |
0.4 |
- |
- |
|
Other, Net |
-0.1 |
-0.1 |
-0.1 |
- |
- |
|
Other Operating Expenses, Total |
0.4 |
0.3 |
0.4 |
- |
- |
|
Total Operating Expense |
11.2 |
9.3 |
9.1 |
5.1 |
4.4 |
|
|
|
|
|
|
|
|
Operating Income |
-8.6 |
-6.9 |
-6.2 |
-2.3 |
-1.6 |
|
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|
|
|
|
|
|
Interest
Expense - Non-Operating |
- |
0.0 |
-0.2 |
-0.1 |
-0.2 |
|
Interest Expense, Net
Non-Operating |
- |
0.0 |
-0.2 |
-0.1 |
-0.2 |
|
Interest Income
- Non-Operating |
0.1 |
0.1 |
0.0 |
- |
- |
|
Investment
Income - Non-Operating |
- |
- |
- |
0.0 |
0.3 |
|
Interest/Investment Income -
Non-Operating |
0.1 |
0.1 |
0.0 |
0.0 |
0.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.1 |
0.1 |
-0.1 |
-0.2 |
0.2 |
|
Income Before Tax |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
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|
|
|
|
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Total Income Tax |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income After Tax |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
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|
Net Income Before Extraord Items |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
Net Income |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
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Income Available to Common Excl Extraord Items |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
113.9 |
90.9 |
67.2 |
24.1 |
24.1 |
|
Basic EPS Excl Extraord Items |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Basic/Primary EPS Incl Extraord Items |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
Diluted Weighted Average Shares |
113.9 |
90.9 |
67.2 |
24.1 |
24.1 |
|
Diluted EPS Excl Extraord Items |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Diluted EPS Incl Extraord Items |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
- |
0.0 |
0.2 |
0.1 |
0.2 |
|
Depreciation, Supplemental |
0.2 |
0.2 |
0.2 |
0.6 |
0.6 |
|
Normalized Income Before Tax |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income After Tax |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Diluted Normalized EPS |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Amort of Intangibles, Supplemental |
0.0 |
0.1 |
0.5 |
- |
- |
|
Rental Expenses |
- |
- |
- |
0.1 |
0.1 |
|
Research & Development Exp, Supplemental |
- |
- |
- |
0.1 |
0.0 |
|
Normalized EBIT |
-8.6 |
-6.8 |
-6.1 |
-2.1 |
-1.7 |
|
Normalized EBITDA |
-8.4 |
-6.5 |
-5.5 |
-1.6 |
-1.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CAD |
CAD |
CAD |
CAD |
CAD |
|
Exchange Rate |
0.99665 |
1.01825 |
0.99365 |
1.04835 |
1.2345 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.3 |
0.2 |
0.4 |
2.8 |
0.2 |
|
Short Term Investments |
10.3 |
18.0 |
15.0 |
0.0 |
3.2 |
|
Cash and Short Term Investments |
10.6 |
18.2 |
15.4 |
2.8 |
3.5 |
|
Trade Accounts Receivable - Net |
0.5 |
0.4 |
0.5 |
0.7 |
0.7 |
|
Other Receivables |
0.1 |
0.1 |
0.1 |
- |
- |
|
Total Receivables, Net |
0.6 |
0.5 |
0.6 |
0.7 |
0.7 |
|
Inventories - Finished Goods |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Inventories - Work In Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inventories - Raw Materials |
0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Total Inventory |
0.3 |
0.3 |
0.2 |
0.1 |
0.2 |
|
Prepaid Expenses |
0.2 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Current Assets, Total |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Current Assets |
11.7 |
19.4 |
16.3 |
3.7 |
4.4 |
|
|
|
|
|
|
|
|
Buildings |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Machinery/Equipment |
1.8 |
1.5 |
1.5 |
1.2 |
0.9 |
|
Property/Plant/Equipment - Gross |
1.9 |
1.6 |
1.6 |
1.3 |
1.0 |
|
Accumulated Depreciation |
-1.4 |
-1.2 |
-1.0 |
-0.8 |
-0.6 |
|
Property/Plant/Equipment - Net |
0.5 |
0.4 |
0.5 |
0.4 |
0.4 |
|
Intangibles - Gross |
5.2 |
5.1 |
5.2 |
4.5 |
3.8 |
|
Accumulated Intangible
Amortization |
-4.8 |
-4.7 |
-4.6 |
-3.9 |
-3.0 |
|
Intangibles, Net |
0.4 |
0.5 |
0.6 |
0.6 |
0.9 |
|
LT Investments - Other |
- |
- |
- |
0.1 |
0.1 |
|
Long Term Investments |
- |
- |
- |
0.1 |
0.1 |
|
Total Assets |
12.6 |
20.3 |
17.4 |
4.8 |
5.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
0.1 |
0.2 |
0.1 |
- |
- |
|
Payable/Accrued |
1.4 |
1.1 |
0.7 |
1.0 |
0.4 |
|
Accrued Expenses |
0.4 |
0.2 |
0.4 |
- |
- |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
0.0 |
0.0 |
2.2 |
0.0 |
|
Customer Advances |
0.1 |
0.1 |
0.1 |
- |
- |
|
Other Payables |
0.1 |
0.1 |
0.2 |
- |
- |
|
Other Current liabilities, Total |
0.2 |
0.2 |
0.3 |
- |
- |
|
Total Current Liabilities |
2.0 |
1.7 |
1.4 |
3.3 |
0.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
- |
0.0 |
1.8 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
1.8 |
|
Total Debt |
0.0 |
0.0 |
0.0 |
2.2 |
1.8 |
|
|
|
|
|
|
|
|
Other Long Term Liabilities |
- |
- |
0.0 |
0.2 |
0.3 |
|
Other Liabilities, Total |
- |
- |
0.0 |
0.2 |
0.3 |
|
Total Liabilities |
2.0 |
1.7 |
1.4 |
3.5 |
2.5 |
|
|
|
|
|
|
|
|
Common Stock |
27.2 |
26.6 |
17.7 |
2.4 |
2.0 |
|
Common Stock |
27.2 |
26.6 |
17.7 |
2.4 |
2.0 |
|
Additional Paid-In Capital |
9.0 |
8.8 |
9.1 |
3.7 |
3.1 |
|
Retained Earnings (Accumulated Deficit) |
-25.6 |
-16.9 |
-10.7 |
-4.8 |
-1.9 |
|
Total Equity |
10.6 |
18.6 |
16.0 |
1.3 |
3.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
12.6 |
20.3 |
17.4 |
4.8 |
5.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
113.9 |
113.9 |
80.6 |
24.1 |
24.1 |
|
Total Common Shares Outstanding |
113.9 |
113.9 |
80.6 |
24.1 |
24.1 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
- |
16 |
15 |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
4.8 |
4.7 |
4.6 |
3.9 |
3.0 |
|
Deferred Revenue - Current |
0.1 |
0.1 |
0.1 |
0.2 |
0.3 |
|
Deferred Revenue - Long Term |
- |
- |
0.0 |
0.2 |
0.3 |
|
Total Operating Leases, Supplemental |
0.7 |
0.8 |
0.3 |
0.4 |
0.4 |
|
Operating Lease Payments Due in Year 1 |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Operating Lease Payments Due in Year 2 |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Payments Due in Year 3 |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Operating Lease Payments Due in Year 4 |
0.1 |
0.1 |
0.0 |
- |
0.1 |
|
Operating Lease Payments Due in Year 5 |
0.1 |
0.1 |
0.0 |
- |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
0.3 |
0.3 |
0.1 |
0.2 |
0.2 |
|
Operating Lease Pymts. Due in 4-5 Years |
0.3 |
0.3 |
0.1 |
- |
0.1 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CAD |
CAD |
CAD |
CAD |
CAD |
|
Exchange Rate (Period
Average) |
0.999653 |
0.989211 |
1.030481 |
1.140783 |
1.067611 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
Depreciation |
0.2 |
0.2 |
0.2 |
0.6 |
0.6 |
|
Depreciation/Depletion |
0.2 |
0.2 |
0.2 |
0.6 |
0.6 |
|
Amortization of Intangibles |
0.0 |
0.1 |
0.5 |
- |
- |
|
Amortization |
0.0 |
0.1 |
0.5 |
- |
- |
|
Unusual Items |
- |
- |
- |
- |
0.0 |
|
Other Non-Cash Items |
0.2 |
0.2 |
0.9 |
0.3 |
0.3 |
|
Non-Cash Items |
0.2 |
0.2 |
0.9 |
0.3 |
0.3 |
|
Accounts Receivable |
-0.1 |
0.1 |
0.2 |
0.1 |
-0.2 |
|
Inventories |
0.0 |
-0.1 |
-0.1 |
0.1 |
0.0 |
|
Prepaid Expenses |
0.2 |
-0.4 |
0.0 |
0.0 |
0.0 |
|
Accounts Payable |
0.3 |
0.3 |
0.2 |
- |
- |
|
Payable/Accrued |
- |
- |
- |
0.5 |
0.2 |
|
Other Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Changes in Working Capital |
0.4 |
-0.1 |
0.3 |
0.6 |
0.0 |
|
Cash from Operating Activities |
-7.7 |
-6.3 |
-4.4 |
-1.0 |
-0.5 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-0.3 |
-0.1 |
-0.2 |
-0.2 |
-0.3 |
|
Purchase/Acquisition of
Intangibles |
- |
0.0 |
-0.5 |
- |
0.0 |
|
Capital Expenditures |
-0.3 |
-0.1 |
-0.7 |
-0.2 |
-0.3 |
|
Sale/Maturity of Investment |
5.1 |
5.1 |
- |
- |
- |
|
Investment, Net |
- |
- |
- |
3.5 |
0.3 |
|
Purchase of Investments |
-5.1 |
-5.1 |
-4.9 |
- |
- |
|
Other Investing Cash Flow |
- |
- |
0.0 |
-0.1 |
0.2 |
|
Other Investing Cash Flow Items, Total |
-0.1 |
-0.1 |
-4.9 |
3.4 |
0.4 |
|
Cash from Investing Activities |
-0.3 |
-0.1 |
-5.6 |
3.3 |
0.2 |
|
|
|
|
|
|
|
|
Sale/Issuance
of Common |
0.0 |
9.7 |
17.1 |
- |
0.0 |
|
Common Stock, Net |
0.0 |
9.7 |
17.1 |
- |
0.0 |
|
Options Exercised |
- |
0.0 |
0.0 |
- |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
9.7 |
17.1 |
- |
0.0 |
|
Cash from Financing Activities |
0.0 |
9.7 |
17.1 |
- |
0.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-8.0 |
3.2 |
7.1 |
2.3 |
-0.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
13.5 |
10.4 |
2.9 |
0.3 |
0.6 |
|
Net Cash - Ending Balance |
5.4 |
13.6 |
10.0 |
2.6 |
0.3 |
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CAD |
CAD |
CAD |
CAD |
CAD |
|
Exchange Rate (Period
Average) |
0.999653 |
0.989211 |
1.030481 |
1.140783 |
1.067611 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Total Revenues |
2.6 |
2.5 |
2.9 |
2.9 |
2.8 |
|
Total Revenue |
2.6 |
2.5 |
2.9 |
2.9 |
2.8 |
|
|
|
|
|
|
|
|
Servicefees (note17) |
- |
- |
- |
0.0 |
- |
|
Clinical trial |
- |
- |
- |
0.4 |
- |
|
Changes in inventories of finished
goods |
0.3 |
0.3 |
0.4 |
- |
- |
|
Raw materials and consumables used |
0.5 |
0.3 |
0.3 |
- |
- |
|
Employee benefits |
2.9 |
2.7 |
3.2 |
- |
- |
|
Consulting and professional fees |
4.6 |
3.1 |
2.4 |
- |
- |
|
Management services |
1.0 |
1.5 |
1.0 |
- |
- |
|
Regulatory and investor relations |
0.5 |
0.3 |
0.2 |
- |
- |
|
Travel and entertainment |
0.8 |
0.6 |
0.6 |
- |
- |
|
Amortization |
0.2 |
0.3 |
0.6 |
0.6 |
0.6 |
|
Foreign Exchange |
0.0 |
0.0 |
0.1 |
0.1 |
-0.1 |
|
Other expenses |
0.5 |
0.4 |
0.4 |
- |
- |
|
Other income |
-0.1 |
-0.1 |
-0.1 |
- |
- |
|
Cost of Sales |
- |
- |
- |
0.7 |
0.7 |
|
Selling,general andad |
- |
- |
- |
3.2 |
3.1 |
|
Stock Compensation |
- |
- |
- |
0.1 |
0.1 |
|
Research/Development |
- |
- |
- |
0.1 |
0.0 |
|
Total Operating Expense |
11.2 |
9.3 |
9.1 |
5.1 |
4.4 |
|
|
|
|
|
|
|
|
Interest expense on convertible
notes pa |
- |
0.0 |
-0.2 |
-0.1 |
-0.2 |
|
Finance Income |
0.1 |
0.1 |
0.0 |
- |
- |
|
Net investment income |
- |
- |
- |
0.0 |
0.3 |
|
Net Income Before Taxes |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income After Taxes |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
Net Income |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
113.9 |
90.9 |
67.2 |
24.1 |
24.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Basic EPS Including ExtraOrdinary Items |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
Diluted Weighted Average Shares |
113.9 |
90.9 |
67.2 |
24.1 |
24.1 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Diluted EPS Including ExtraOrd Items |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income After Taxes |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Diluted Normalized EPS |
-0.08 |
-0.07 |
-0.09 |
-0.10 |
-0.06 |
|
Research & Development Exp |
- |
- |
- |
0.1 |
0.0 |
|
Interest Expense |
- |
0.0 |
0.2 |
0.1 |
0.2 |
|
Amort of Intangibles |
0.0 |
0.1 |
0.5 |
- |
- |
|
Rental Expense |
- |
- |
- |
0.1 |
0.1 |
|
Depreciation |
0.2 |
0.2 |
0.2 |
0.6 |
0.6 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CAD |
CAD |
CAD |
CAD |
CAD |
|
Exchange Rate |
0.99665 |
1.01825 |
0.99365 |
1.04835 |
1.2345 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.3 |
0.2 |
0.4 |
2.8 |
0.2 |
|
Premium rate investment account |
5.1 |
13.0 |
10.0 |
- |
- |
|
Accounts Rcvbl. |
- |
- |
- |
0.7 |
0.7 |
|
Short-terminvestment (note 5) |
5.2 |
5.0 |
5.1 |
0.0 |
3.2 |
|
Trade receivables |
0.1 |
0.1 |
0.1 |
- |
- |
|
Accrued royalties |
0.4 |
0.4 |
0.4 |
- |
- |
|
Input tax credits receivable |
0.1 |
0.1 |
0.1 |
- |
- |
|
Other Receivable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Raw materials and supplies |
0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Finished goods |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Deposits |
0.0 |
0.0 |
0.0 |
- |
- |
|
Prepayments Non-current assets |
0.2 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
11.7 |
19.4 |
16.3 |
3.7 |
4.4 |
|
|
|
|
|
|
|
|
Property,plant andequipment (note
7) |
- |
- |
- |
0.8 |
0.6 |
|
Lab. Eq.-Leased |
1.3 |
1.0 |
1.0 |
- |
- |
|
Office Equipment |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Comp. Equip. |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Lsehld. Improv. |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Depreciation |
-1.4 |
-1.2 |
-1.0 |
-0.8 |
-0.6 |
|
Commercial Instruments |
- |
- |
- |
0.1 |
0.1 |
|
Purchasedtechnology andlicences
(note 9) |
5.2 |
5.1 |
5.2 |
4.5 |
3.8 |
|
Amortization |
-4.8 |
-4.7 |
-4.6 |
-3.9 |
-3.0 |
|
Total Assets |
12.6 |
20.3 |
17.4 |
4.8 |
5.7 |
|
|
|
|
|
|
|
|
Trade and other payables |
1.4 |
1.1 |
0.7 |
1.0 |
0.4 |
|
Trade payable to related parties
Compens |
0.1 |
0.2 |
0.1 |
- |
- |
|
Compensation Payable to key
Management |
0.4 |
0.2 |
0.4 |
- |
- |
|
Other payables |
0.1 |
0.1 |
0.2 |
- |
- |
|
Curr. Port. Convertible Notes
Payable |
- |
0.0 |
0.0 |
2.2 |
0.0 |
|
Dfrd. Revenue |
0.1 |
0.1 |
0.1 |
- |
- |
|
Total Current Liabilities |
2.0 |
1.7 |
1.4 |
3.3 |
0.4 |
|
|
|
|
|
|
|
|
Convertible notes payable (notes 4
and 1 |
- |
- |
- |
0.0 |
1.8 |
|
Total Long Term Debt |
- |
- |
- |
0.0 |
1.8 |
|
|
|
|
|
|
|
|
Dfrd. Revenue |
- |
- |
0.0 |
0.2 |
0.3 |
|
Total Liabilities |
2.0 |
1.7 |
1.4 |
3.5 |
2.5 |
|
|
|
|
|
|
|
|
Common Stock |
27.2 |
26.6 |
17.7 |
2.4 |
2.0 |
|
Contributed Surplus |
3.9 |
3.8 |
3.7 |
3.5 |
3.0 |
|
Stock Based Comp. |
3.1 |
2.9 |
2.7 |
1.8 |
1.5 |
|
Warrants(1) |
5.2 |
5.1 |
5.3 |
0.2 |
0.1 |
|
Accum. Deficit |
-28.7 |
-19.7 |
-13.5 |
-6.6 |
-3.4 |
|
Total Equity |
10.6 |
18.6 |
16.0 |
1.3 |
3.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
12.6 |
20.3 |
17.4 |
4.8 |
5.7 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
113.9 |
113.9 |
80.6 |
24.1 |
24.1 |
|
Total Common Shares Outstanding |
113.9 |
113.9 |
80.6 |
24.1 |
24.1 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue - Current |
0.1 |
0.1 |
0.1 |
0.2 |
0.3 |
|
Deferred Revenue - Long Term |
- |
- |
0.0 |
0.2 |
0.3 |
|
Amortization of Intangible |
4.8 |
4.7 |
4.6 |
3.9 |
3.0 |
|
Full-Time Employees |
- |
16 |
15 |
- |
- |
|
Operating Lease Due within 1 Year |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Operating Lease Due within 2 Years |
- |
- |
- |
0.1 |
0.1 |
|
Operating Lease Due within 3 Years |
- |
- |
- |
0.1 |
0.1 |
|
Operating Lease Due within 4 Years |
- |
- |
- |
- |
0.1 |
|
Operating Lease Payments Due in Year 5 |
0.5 |
0.6 |
0.1 |
- |
- |
|
Operating Leases - Remaining Payments |
0.0 |
0.1 |
0.0 |
- |
- |
|
Total Operating Leases, Supplemental |
0.7 |
0.8 |
0.3 |
0.4 |
0.4 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CAD |
CAD |
CAD |
CAD |
CAD |
|
Exchange Rate (Period
Average) |
0.999653 |
0.989211 |
1.030481 |
1.140783 |
1.067611 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
-8.5 |
-6.8 |
-6.3 |
-2.4 |
-1.4 |
|
Depreciation |
0.2 |
0.2 |
0.2 |
0.6 |
0.6 |
|
Amortization of intangible assets |
0.0 |
0.1 |
0.5 |
- |
- |
|
Amortization of commercial
instruments i |
- |
- |
0.0 |
0.1 |
0.1 |
|
Compensation |
0.2 |
0.2 |
0.8 |
0.1 |
0.1 |
|
Interest on convertible notes
payable |
- |
0.0 |
0.2 |
0.1 |
0.2 |
|
Loss on Sale of Asset |
- |
- |
- |
- |
0.0 |
|
Write off of Purchased Tecnology |
- |
- |
- |
- |
0.0 |
|
Accounts Rcvbl. |
- |
- |
- |
0.1 |
-0.2 |
|
Trade Receivable |
-0.1 |
0.1 |
0.2 |
- |
- |
|
Inventories |
0.0 |
-0.1 |
-0.1 |
0.1 |
0.0 |
|
Prepaid/Other |
0.2 |
-0.4 |
0.0 |
0.0 |
0.0 |
|
Trade and other payables |
0.3 |
0.3 |
0.2 |
- |
- |
|
Payable/Accrued |
- |
- |
- |
0.5 |
0.2 |
|
Deferred Revenue |
0.0 |
0.0 |
0.0 |
- |
- |
|
Cash from Operating Activities |
-7.7 |
-6.3 |
-4.4 |
-1.0 |
-0.5 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-0.3 |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
|
Increase in Short Term Invest. |
-5.1 |
-5.1 |
-4.9 |
- |
- |
|
Redemption of short-term
investment |
5.1 |
5.1 |
- |
- |
- |
|
Intangible asset expenditure |
- |
0.0 |
-0.5 |
- |
0.0 |
|
Purchase of Commercial Instruments |
- |
- |
0.0 |
0.0 |
0.0 |
|
Sale of Investment |
- |
- |
- |
3.5 |
0.3 |
|
Deferred Revenue |
- |
- |
0.0 |
-0.1 |
0.2 |
|
Cash from Investing Activities |
-0.3 |
-0.1 |
-5.6 |
3.3 |
0.2 |
|
|
|
|
|
|
|
|
Proceeds onexerciseof stockoptions |
- |
0.0 |
0.0 |
- |
- |
|
Private placement |
0.0 |
9.7 |
17.1 |
- |
0.0 |
|
Cash from Financing Activities |
0.0 |
9.7 |
17.1 |
- |
0.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-8.0 |
3.2 |
7.1 |
2.3 |
-0.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
13.5 |
10.4 |
2.9 |
0.3 |
0.6 |
|
Net Cash - Ending Balance |
5.4 |
13.6 |
10.0 |
2.6 |
0.3 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
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Ratio Comparisons
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
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Stock Report
Stock
Snapshot
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess
SCs credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.