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SSA.V - Spectra Inc.

Discussion in 'Canadian Stocks Message Boards' started by TheDude, Nov 2, 2017.

  1. TheDude

    TheDude Active Member

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    Spectra Inc. Reports Redemption of Preferred Shares For Immediate Release – April 11, 2019 Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports redemption of 100 Preferred Shares on March 31, 2019 Due to the strong results in 2018 and solid cash position at the end of the first quarter of 2019, the Corporation was able to redeem 100 Preferred Shares for $100,000 on March 31, 2019. This was three months ahead of the required redemption date of June 30, 2019. With the 400 shares redeemed previously in 2017 and 2018 for $400,000, we will have now redeemed $500,000 of the original balance of $750,000, leaving a remaining 250 shares with a value of $250,000 still outstanding. 125 of these shares are due for redemption on December 31, 2019 and the final balance of 125 shares is due for redemption on June 30, 2020. Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake SafeÒ, the visual brake stroke indicating system, Brake InspectorÒ, the company’s electronic in-cab air brake diagnostic system and the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants. Spectra Products Inc. distributes Zafety Lug LockÒ, a lug nut retainer that uses the resistance between wheel nuts to minimize their ability to rotate and loosen, reducing the risk of wheel damage or wheel loss and Hub Alert™, an innovative heat sensing label that provides an alert for overheating wheel ends, reducing the risk of bearing failure and corresponding maintenance and repair costs. Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Corporation’s customers. Actual results and developments may therefore differ materially from those described in this release. On behalf of the Board of Directors, Glen Campbell, Chairman, Spectra Inc. Investor Relations: 1-800-308-5255 E-Mail: [email protected] Website: www.spectrainc.ca ____________________________________________________
     
  2. TheDude

    TheDude Active Member

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    Spectra Inc. Reports Fourth Quarter 2018 Results

    For Immediate Release – April 26, 2019

    Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of its financial results for the 12 months ended December 31, 2018.

    Revenues for the twelve month period ending December 31, 2018 were $2,045,806 compared to $1,780,609 for the same period in 2017.

    Revenues for the fourth quarter ending December 31, 2018 were $444,429 compared to $448,017 for the same period in 2017.

    Net income was $495,372 during the twelve-month period ended December 31, 2018, compared to $222,810 for the same period in 2017. Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake SafeÒ, the visual brake stroke indicating system, Brake InspectorÒ, the company’s electronic in-cab air brake diagnostic system and the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants.

    Spectra Products Inc. distributes Zafety Lug LockÒ, a lug nut retainer that uses the resistance between wheel nuts to minimize their ability to rotate and loosen, reducing the risk of wheel damage or wheel loss and Hub Alert™, an innovative heat sensing label that provides an alert for overheating wheel ends, reducing the risk of bearing failure and corresponding maintenance and repair costs.

    Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Corporation’s customers. Actual results and developments may therefore differ materially from those described in this release.

    On behalf of the Board of Directors,
    Glen Campbell, Chairman, Spectra Inc.
    Investor Relations: 1-800-308-5255
    E-Mail: [email protected]
    Website: www.spectrainc.ca
     
  3. TheDude

    TheDude Active Member

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  4. TheDude

    TheDude Active Member

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    Spectra Inc. Reports First Quarter 2019 Results

    For Immediate Release – May 6, 2019

    Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of its
    financial results for the first 3 months of 2019. Revenues for the period ending March
    31, 2019 were $495,507 compared to $572,009 for the same period in 2018.

    The first quarter ending March 31, 2019 showed a net profit of $106,287 compared to net
    profit for the three-month period in 2018 of $149,776.

    Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North
    American designer, manufacturer and distributor of Brake SafeÒ, the visual brake stroke
    indicating system, Brake InspectorÒ, the company’s electronic in-cab air brake diagnostic
    system and the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants.

    Spectra Products Inc. distributes Zafety Lug LockÒ, a lug nut retainer that uses the
    resistance between wheel nuts to minimize their ability to rotate and loosen, reducing the
    risk of wheel damage or wheel loss and Hub Alert™, an innovative heat sensing label that
    provides an alert for overheating wheel ends, reducing the risk of bearing failure and
    corresponding maintenance and repair costs.

    Except for the historical information contained herein, this news release contains forward
    looking statements that involve risks and uncertainties, including the impact of
    competitive products and pricing and general economic conditions as they affect the
    Corporation’s customers. Actual results and developments may therefore differ
    materially from those described in this release.

    On behalf of the Board of Directors,
    Glen Campbell, Chairman, Spectra Inc.
    Investor Relations: 1-800-308-5255

    E-Mail: [email protected]
    Website: www.spectrainc.ca
     
  5. TheDude

    TheDude Active Member

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    Spectra Inc Chart 2006-2019 Sales/Profit/Assets/Liabilities

    [​IMG]
    [​IMG]
     
  6. TheDude

    TheDude Active Member

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    Spectra Inc. Announces Private Placement

    For Immediate Release – May 22, 2019

    Toronto, Ontario – Spectra Inc. (SSA: TSXV) intends to complete a non-brokered private
    placement of up to 16,500,000 units at a price of five cents ($0.05) per unit for gross
    proceeds of up to $825,000 (the “Offering”)

    Each unit consists of one common share (“Common Share”) in the capital of the Spectra
    Inc. (the “Corporation”) and one-half of a Common Share purchase warrant (each a
    “Warrant”). Each whole Warrant will entitle the holder thereof upon payment of $0.075
    to acquire one Common Share at any time prior to 5.00 p.m. (Calgary time) eighteen (18)
    months following the date the Warrants are issued (“Expiry Time”). If, at any time after
    the Warrants are issued the closing price of the Common Shares on the TSXV for any
    fifteen (15) consecutive trading days equals or exceeds $0.12, the Corporation will have
    the option to, upon issuing a news release, accelerate the Expiry Time of the Warrants to
    5.00 p.m. (Calgary time) on the date that is thirty (30) days following the date of such
    news release (the “Accelerated Expiry Time”). Any Warrant not exercised prior to the
    Expiry Time or the Accelerated Expiry Time, as applicable, shall be deemed to be void or
    of no further force and effect.

    The Corporation intends to use the net proceeds of the offering to payout the royalty
    debenture of Spectra Products Inc. in the amount of $652,065 due August 6, 2019 and for
    general corporate purposes.

    Finders' fees of up to 7% of the gross proceeds raised by any finders may be payable in
    either cash or Common Shares or a combination of both.

    Closing of the Offering is subject to receipt of applicable regulatory approvals including
    the approval of the TSXV. The securities issued will be subject to a standard four month
    hold period.

    Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North
    American designer, manufacturer and distributor of Brake SafeÒ, the visual brake stroke
    indicating system, Brake InspectorÒ, the Corporation’s electronic in-cab air brake
    diagnostic system and the Termin-8RÒ line of anti-corrosion and extreme pressure
    lubricants. Spectra Products Inc. distributes Zafety Lug LockÒ, a lug nut retainer that uses
    the resistance between wheel nuts to minimize their ability to rotate and loosen, reducing
    the risk of wheel damage or wheel loss and Hub Alert™, an innovative heat sensing label
    that provides an alert for overheating wheel ends, reducing the risk of bearing failure and
    corresponding maintenance and repair costs.

    On behalf of the Board of Directors,
    Andrew Malion, President, Spectra Inc.
    Investor Relations: 1-800-308-5255
    E-Mail: [email protected]
    Website: www.spectrainc.ca
     
  7. TheDude

    TheDude Active Member

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    Spectra closes $830,000 financing

    2019-07-02 07:03 MT - News Release


    Mr. Andrew Malion reports

    SPECTRA INC. ANNOUNCES UPSIZE AND COMPLETION OF PRIVATE PLACEMENT

    Spectra Inc. has closed its previously announced non-brokered private placement. The offering was increased from $825,000 to $830,000. Spectra has issued 16.6 million units at a price of five cents per unit for gross proceeds of $830,000.

    Each unit consists of one common share in the capital of the corporation and one-half of a common share purchase warrant. Each whole warrant will entitle the holder thereof upon payment of 7.5 cents to acquire one common share at any time prior to 5 p.m. Calgary time on Dec. 28, 2020. If, at any time after the warrants are issued, the closing price of the common shares on the TSX Venture Exchange for any 15 consecutive trading days equals or exceeds 12 cents, the corporation will have the option to, upon issuing a news release, accelerate the expiry time of the warrants to 5 p.m. Calgary time on the date that is 30 days following the date of such news release. Any warrant not exercised prior to the expiry time or the accelerated expiry time, as applicable, shall be deemed to be void or of no further force and effect.

    The corporation paid finders' fees in the aggregate amount of $34,125 which is equal to 7 per cent of the gross proceeds of the offering raised by such finders.

    The common shares and warrants issued pursuant to the offering are subject to a four-month-plus-one-day hold period.

    The corporation intends to use the net proceeds of the offering to pay out the royalty debenture of Spectra Products Inc. in the amount of $652,065 due Aug. 6, 2019, and for general corporate purposes.

    Spectra, through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake Safe, the visual brake stroke indicating system, Brake Inspector, the corporation's electronic in-cab air brake diagnostic system, and the Termin-8R line of anti-corrosion and extreme pressure lubricants.

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  8. TheDude

    TheDude Active Member

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    Spectra repays $652,065 royalty debenture

    2019-07-04 12:39 MT - News Release


    Mr. Glen Campbell reports

    SPECTRA INC. REPORTS REPAYMENT OF ROYALTY DEBENTURE

    Spectra Inc. has noted the payout on June 28, 2019, of the royalty debenture in the amount of $652,065.

    This royalty debenture was originally issued on Aug. 4, 2004, and was due to mature on Aug. 4, 2019.

    The financing received on the recently completed private placement of 16.6 million common shares for a gross receipt of $830,000, allowed the repayment of the royalty debenture in full, extinguishing the debt.

    Spectra, through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake Safe (a visual brake stroke indicating system), Brake Inspector (the company's electronic in-cab air brake diagnostic system) and the Termin-8R line of anti-corrosion and extreme pressure lubricants.

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  9. TheDude

    TheDude Active Member

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    Spectra buys 1,315 Spectra Products shares from CABE

    2019-07-08 07:26 MT - News Release


    Mr. Glen Campbell reports

    SPECTRA INC. ANNOUNCES PURCHASE OF COMMON SHARES OF SPECTRA PRODUCTS INC.

    Spectra Inc. has purchased from CABE Financial Corp. a 33.25-per-cent interest in the common shares of Spectra Products Inc.

    Pursuant to the transaction, Spectra purchased 1,315 common shares of Spectra Products from CABE for consideration of $300,000, resulting in Spectra owning 100 per cent of the issued and outstanding common shares of Spectra Products.

    About Spectra Inc.

    Spectra, through its wholly owned subsidiary, Spectra Products, is the Toronto-based North American designer, manufacturer and distributor of Brake Safe.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  10. TheDude

    TheDude Active Member

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    Spectra redeems 250 preferred shares held by CABE

    2019-07-09 11:22 MT - News Release


    Mr. Andrew Malion reports

    SPECTRA INC. REPORTS REDEMPTION OF PREFERRED SHARES

    Spectra Inc. has redeemed 250 preferred shares held by CABE Financial Corp.

    Due to continued strong results in the first half of 2019, the corporation was able to redeem 250 preferred shares for $250,000. This is well ahead of the required redemption dates of Dec. 31, 2019, and June 30, 2020; each for 125 shares at $1,000 per share.

    "With this redemption, we will have now redeemed all of the 750 preferred shares originally issued to Dynamic Venture Opportunity Fund and acquired by CABE in December, 2017," stated Andrew Malion, president of Spectra.

    About Spectra Inc.

    Spectra, through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake Safe, Brake Inspector and the Termin-8R. Spectra manufacturers and distributes the new Arrow Logger brake stroke data logger that has been designed to enhance the performance of the Brake Safe system.

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  11. TheDude

    TheDude Active Member

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    Spectra's Campbell resigns as director, chairman

    2019-07-15 10:00 MT - News Release


    Mr. Andrew Malion reports

    SPECTRA INC. REPORTS RESIGNATION OF DIRECTOR AND CHAIRMAN

    Glen Campbell has resigned as a director and chairman of both Spectra Products Inc. and Spectra Inc. His role as Chairman will be fulfilled by Mr. Andrew Malion, currently President of both companies.

    Mr. Campbell will continue to provide financial consulting services to the Companies and will retain the position of Chief Financial Officer. Mr. Malion commented "Mr. Campbell has decided to go into "semi-retirement" and to reduce his corporate responsibilities. We are pleased that he will continue to provide critical administrative and financial reporting services to both companies until the end of 2022."

    Spectra Inc., also advises that Mr. Kevin Haney of Dauphin, Manitoba was nominated to fill this vacancy on the Board of Directors and this nomination has been accepted by the Board. Mr. Haney will join the Board of Directors subject to Regulatory consent. Mr. Haney has over 20 years of business experience in the Oil industry and over a decade in the Transportation Logistics business. Mr. Haney is also a Director of KFG Resources (TSXV: KFG).

    Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake Safe(, the visual brake stroke indicating system, Brake Inspector(, the company's electronic in-cab air brake diagnostic system and the Termin-8R( line of anti-corrosion and extreme pressure lubricants. Spectra manufacturers and distributes the ARROW LOGGER(TM) brake stroke data logger that has been designed to enhance the performance of the Brake Safetrademark system. Spectra distributes Zafety Lug Lock(, a lug nut retainer that uses the resistance between wheel nuts to minimize their ability to rotate and loosen, reducing the risk of wheel damage or wheel loss and HUB ALERT(TM), an innovative heat sensing label that provides an alert for overheating wheel ends, reducing the risk of bearing failure.

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  12. TheDude

    TheDude Active Member

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    Spectra's Patel resigns as director

    2019-07-22 13:25 MT - News Release


    Mr. Andrew Malion reports

    SPECTRA INC. REPORTS RESIGNATION OF DIRECTOR

    Kam Patel has resigned as a director of Spectra Inc. A replacement for his position on the board of directors will be announced in the near future.

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  13. TheDude

    TheDude Active Member

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    Spectra earns $192,662 in Q2 2019

    2019-07-31 09:34 MT - News Release


    Mr. Andrew Malion reports

    SPECTRA INC. REPORTS SECOND QUARTER 2019 RESULTS

    Spectra Inc. has released its financial results for the first six months of 2019. Revenues for the six-month period ending June 30, 2019 were $1,163,187 compared to $1,042,196 for the same period in 2018, an increase of 11.6 percent. Revenues for the second quarter ending June 30, 2019 were $668,310 compared to $470,187 in 2018, an increase of 42.1 percent.

    The second quarter ending June 30, 2019 showed a net profit of $192,662 compared to a net profit of $92,095 for the second quarter ended June 30, 2018.

    During the six-month period ending June 30, 2019, a net profit of $298,949 was generated compared to a net profit of $241,871 for the six-month period in 2018.

    Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake Safe(, the visual brake stroke indicating system, Brake Inspector(, the company's electronic in-cab air brake diagnostic system and the Termin-8R( line of anti-corrosion and extreme pressure lubricants. Spectra manufacturers and distributes the new ARROW LOGGER(TM) brake stroke data logger that has been designed to enhance the performance of the Brake Safetrademark system. Spectra distributes Zafety Lug Lock(, a lug nut retainer that uses the resistance between wheel nuts to minimize their ability to rotate and loosen, reducing the risk of wheel damage or wheel loss and HUB ALERT(TM), an innovative heat sensing label that provides an alert for overheating wheel ends, reducing the risk of bearing failure and corresponding maintenance and repair costs.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  14. TheDude

    TheDude Active Member

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    Spectra earns $136,828 in Q3 2019

    2019-10-28 12:29 MT - News Release


    Mr. Andrew Malion reports

    SPECTRA INC. REPORTS THIRD QUARTER 2019 RESULTS

    Spectra Inc. has released its financial results for the first nine months of 2019. Revenues for the nine-month period ending Sept. 30, 2019, were $1,655,103 compared with $1,601,377 for the same period in 2018, an increase of 3.36 per cent. Revenues for the third quarter ending Sept. 30, 2019, were $491,286 compared with $559,181 in 2018, a decrease of 12.15 per cent.

    The third quarter ending Sept. 30, 2019, showed a net profit of $136,828 compared with a net profit of $145,065 for the third quarter ended Sept. 30, 2018.

    During the nine-month period ending Sept. 30, 2019, a net profit of $435,777 was generated compared with a net profit of $386,926 for the nine-month period in 2018.

    About Spectra Inc.

    Spectra, through its subsidiary, Spectra Products, is the Toronto-based North American designer, manufacturer and distributor of Brake Safe, a visual brake stroke indicating system; Brake Inspector, the company's electronic in-cab air brake diagnostic system; and the Termin-8R line of anti-corrosion and extreme-pressure lubricants.

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  15. TheDude

    TheDude Active Member

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  16. TheDude

    TheDude Active Member

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    Spectra changes name to Spectra Products Inc.

    2020-01-02 06:29 MT - News Release


    Mr. Andrew Malion reports

    SPECTRA INC. ANNOUNCES AMALGAMATION AND NAME CHANGE TO SPECTRA PRODUCTS INC.

    Spectra Products Inc. (formerly Spectra Inc.) completed a vertical short-form amalgamation with its wholly owned subsidiary Spectra Products Inc. under Section 184(1) of the Business Corporations Act (Alberta) on Jan. 1, 2020. The amalgamation was approved by the board of directors of each of the amalgamating companies. In accordance with the amalgamation, the company changed its name from Spectra Inc. to Spectra Products Inc. The company's stock trading symbol will remain as SSA on the TSX Venture Exchange and it is expected that the company's stock will commence trading under its new name next week following receipt of final approval from the TSX-V.

    No action will be required by existing shareholders or holders of certificates representing common shares with respect to the name change. The company's new Cusip number is 84757D100 and its new ISIN number is CA84757D1006.

    About Spectra Inc.

    Spectra is the Toronto-based North American designer, manufacturer and distributor of Brake Safe, the visual brake stroke indicating system; Brake Inspector, the company's electronic in-cab air brake diagnostic system; and the Termin-8R line of anti-corrosion and extreme pressure lubricants.


    © 2020 Canjex Publishing Ltd. All rights reserved.


    FYI: I spoke to the company regarding the reason for this amalgamation and it was done in order to use over $1 million in tax loss credits from the parent company towards the profitable cashflow of the subsidiary. So Spectra can add over $ 1 million in cash to the bank without having to pay tax on it. Given that the company has been profitable since 2014 and net income grows every year, this is a massive bonus for shareholder value.
     
  17. TheDude

    TheDude Active Member

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    Owner-Operator Independent Drivers Association (OOIDA)
    3 hrs ·


    At 6 p.m. Central on SiriusXM 146:

    Some violations turn up over and over in out-of-service orders.

    Often the most common involve your brakes.

    Mark Reddig gets information and advice from Andy Malion of Brake Safe/Spectra Products Inc. and Tom Crowley of OOIDA’s Business Services Dept.

    A new year has begun but the year that just ended was a significant one for the trucking industry.

    Land Line Media has documented that year front to back.

    The stories of 2019 from Jami Jones, Greg Grisolano, Mark C. Schremmer and Tyson Fisher.

    Wyoming lawmakers are looking at proposal to allow tolling on Interstate 80.

    OOIDA has taken a stand on the effort.

    That and more with OOIDA Manager of Government Affairs Mike Matousek.

    Terry P. Scruton news includes:

    Supreme Court will hear case involving scandal on the George Washington Bridge.

    Transportation jobs took a hit in 2019.

    And

    That’s one way to get your hands on a Popeyes Louisiana Kitchen chicken sandwich.

    https://landline.media/land-line-now/
     
  18. TheDude

    TheDude Active Member

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    Spectra Products Inc. (previously Spectra Inc.) Reports Fourth Quarter 2019 Results For Immediate Release – April 23, 2020 Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of its financial results for the twelve-month ended December 31, 2019. Revenues for the twelve-month period ending December 31, 2019 were $2,036,047 compared to $2,045,806 for the same period in 2018. Revenues for the fourth quarter ending December 31, 2019 were $380,944 compared to $444,429 in 2018. In the twelve-month period ended December 31, 2019, a net profit before income taxes of $364,468 was earned compared to a net profit before income taxes of $495,372 for the twelvemonth period ended December 31, 2018. The fourth quarter ended December 31, 2019 showed a net loss before income taxes of $71,309 compared to a net profit before income taxes of $108,436 for the fourth quarter ended December 31, 2018. As a result of the improved financial position of the Company, the Directors now believe that a deferred tax asset of $508,407 can be recognized. This was done in the fourth quarter of 2019, resulting in net profit after taxes for the fourth quarter of 2019 of $437,098 and net profit after taxes for of $872,875 for the year ended December 31, 2019. Spectra Products Inc. is the Toronto-based North American designer, manufacturer and distributor of wheel end safety products to the transportation industry. These products include Brake SafeÒ, Brake InspectorÒ, Zafety Lug LockÒ, Hub Alert™ and the Anti-Seize Cotter Pin™ as well as the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants. Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Corporation’s customers. Actual results and developments may therefore differ materially from those described in this release. On behalf of the Board of Directors, Andrew Malion, President, Spectra Products Inc. Investor Relations: 1-800-308-5255 E-Mail: [email protected] Website: www.spectrainc.ca
     
  19. TheDude

    TheDude Active Member

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    Spectra has Q1 profit before tax of $176,513

    2020-05-04 07:29 MT - News Release

    Mr. Andrew Malion reports

    SPECTRA PRODUCTS INC. REPORTS FIRST QUARTER 2020 RESULTS

    Spectra Products Inc. has released its financial results for the three months ended March 31, 2020. Revenues for the three-month period ending March 31, 2020, were $535,926 compared with $495,507 for the same period in 2019.

    In the three-month period ended March 31, 2020, a net profit before income taxes of $176,513 was earned compared with a net profit before income taxes of $106,287 for the three-month period ended March 31, 2019.

    About Spectra Products Inc.

    Spectra is the Toronto-based North American designer, manufacturer and distributor of wheel-end safety products to the transportation industry.

    We seek Safe Harbor.

    © 2020 Canjex Publishing Ltd. All rights reserved.
     
  20. TheDude

    TheDude Active Member

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    Company sales slowed, but still making a profit. Balance sheet is getting stronger every quarter. At the same time, Spectra Products is now investing in other companies through debentures.

    From the MD&A on page 8:

    As well as the cash resources the Company had, at June 30, 2020, invested in $75,000 in a convertible debenture in Immunoprecise Antibodies Ltd, bearing interest at 10%, maturing on May 15, 2022 and convertible into common shares at a price of $0.85 per share. This resulted in short term cash and term deposits of $457,426, compared to an equivalent amount of $305,829 at December 31, 2019.

    News release:

    Spectra Products Inc. Reports Second Quarter 2020 Results For Immediate Release – July 23, 2020 Toronto, Ontario – Spectra Products Inc. (SSA: TSX VENTURE) reports the release of its financial results for the six months ended June 30, 2020. Revenues for the six-month period ending June 30, 2020 were $841,277 compared to $1,163,817 for the same period in 2019. Revenues for the second quarter ending June 30, 2020 were $305,351 compared to $668,310 for the same period in 2019. In the six-month period ended June 30, 2020, a net profit before income taxes of $251,375 was earned compared to a net profit before income taxes of $298,949 for the six-month period ended June 30, 2019. In the second quarter ended June 30, 2020, a net profit before income taxes of $74,862 was earned compared to a net profit before income taxes of $192,662 for the second quarter ended June 30, 2019. As a result of the COVID-19 virus, the slow-down in the various market segments reduced the Company’s revenue levels in the second quarter of 2020, however the Company was still able to remain profitable. The Company has strong cash reserves and is well positioned to maintain operations, albeit at reduced levels of revenue and profitability, until market levels return to normal. Spectra Products Inc. is the Toronto-based North American designer, manufacturer and distributor of wheel end safety products to the transportation industry. These products include Brake SafeÒ, Brake InspectorÒ, Zafety Lug LockÒ, Hub Alert™ and the Anti-Seize Cotter Pin™ as well as the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants. Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Corporation’s customers. Actual results and developments may therefore differ materially from those described in this release. On behalf of the Board of Directors, Andrew Malion, President, Spectra Products Inc. Investor Relations: 1-800-308-5255 E-Mail: [email protected] Website: www.spectrainc.ca
     

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