Strategic Vista Reports Fiscal 1999 Results.Business Editors MARKHAM Markham City (pop., 1991: 154,000), southeastern Ontario. It is situated on the Rouge River, northeast of Toronto. Settled in 1794, the town was named for William Markham, archbishop of York. It annexed the nearby township of Markham in 1971. , Ontario--(BUSINESS WIRE)--Feb. 17, 2000 (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. :SVII SVII Strong Vocational Interest Inventory .) Strategic Vista International Inc. (CDN:SVII), the international developer and manufacturer of innovative electronic products focused in the small office/home office See SOHO. market niche niche: see ecology. niche Smallest unit of a habitat that is occupied by an organism. A habitat niche is the physical space occupied by the organism; an ecological niche is the role the organism plays in the community of organisms found in the , has reported total revenues for the year ended September September: see month. 30, 1999 of $2,894,959 and a net loss of $577,398 compared to total revenues of $3,408,252 and a net loss of $1,778,056 in fiscal 1998. The fiscal 1999 reported loss per common share was $0.045 compared to a loss per share of $0.31 in fiscal 1998 on total common shares outstanding of 12,806,993 and 5,732,393 respectively. Revenue is earned primarily from the International sales of CCTV CCTV abbr. closed-circuit television CCTV closed-circuit television security products and from royalty Compensation for the use of property, usually copyrighted works, patented inventions, or natural resources, expressed as a percentage of receipts from using the property or as a payment for each unit produced. and commission income earned on the sale of CCTV products sold in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. markets. System wide sales captures the total global sales of CCTV products marketed primarily under the Lorex and Lorex Pro brands including the North American sales from a strategic partnership with Sonigem Products Inc. of Markham, Ontario Markham (2006 Population 261,573[0]) is located in York Region, directly north of Toronto, and is part of Toronto's CMA. It is larger than many Canadian cities. Despite its qualifications regarding population, it has not had the title of city conferred upon it by the . &uot;It is important to recognize that our revenue numbers are not comparable with those reported last year. The company no longer includes any revenue derived de·rive v. de·rived, de·riv·ing, de·rives v.tr. 1. To obtain or receive from a source. 2. from the sale of closed circuit televisions (CCTV) sold in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. as in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with its January January: see month. 1999 distribution arrangement with Sonigem Products Inc.&uot; Strategic Vista earns a buying commission and royalties Not to be confused with Royal family. Royalties (sometimes, running royalties) are usage-based payments made by one party (the "licensee") to another (the "licensor") for ongoing use of an asset, most typically an intellectual property (IP) right. on these sales and shares equally in any profit or loss incurred by Sonigem in connection with this business. If the sales were combined and compared with last year earnings, Strategic Vista sales would have been $7.1 million, representing an increase of more than 108% compared with the previous period.&uot; said Bernie Bernie may refer to:
Austrian-born British psychoanalyst who first introduced play therapy and was the first to use psychoanalysis to treat young children. , the Chairman of Strategic Vista. In addition Klein added, &uot;The dramatic increase in system wide sales confirms the North American consumers' growing acceptance of our Closed Circuit Television (CCTV) products,&uot; &uot;The difficult decisions made in fiscal 1998 have resulted in improved financial controls and the corporate structure necessary to support the continued sales growth.&uot; Mr. Klein also reported on a number of positive developments that occurred in fiscal 1999. These included:
* The dramatic increase in system wide sales is a positive
confirmation of management's decision to enter into the
distribution agreement with Sonigem Products Inc.
* The licensing of the Sylvania brand name for our security
and surveillance systems in the North American and Mexican
markets
* The development of the Video Grabber Model SG75 which allows for
the capture of video images from any standard video source and
the delivery of these images to a PC computer and is expected to
be introduced into our product line in Q2 of fiscal 2000
* The continued development of the 2.4 GHz wireless camera system,
now available in colour and expanded system capabilities.
* The financial condition of SVII has improved by; the retirement
of all long term debt, the reduction and write down of all
obsolete inventories and the return to a positive cash position.
* The Company is continuing to develop products for, and direct
resources towards, the Emergency Telecommunications System (ETS)
products.
* Strategic Vista products are now being carried by Radio Shack,
The FutureShop, Costco and the PriceClub and a number of major
North American retailers have committed to testing our CCTV
products in fiscal 2000.
Strategic Vista International Inc. is a developer, manufacturer and marketer of innovative products for the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. , security and computer markets. SVII develops proprietary technologies, retains the intellectual property and out sources the manufacturing and distribution of its high quality wireless telecommunication telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. products. The Company is ideally positioned to emerge as a market leader in the small office/home office niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. . Strategic Vista International Inc. 300 Alden Al·den , John 1599?-1687. Pilgrim colonist and political figure whose courtship of Priscilla Mullins (born c. 1602) is the subject of a popular legend. Road Markham, Ontario L3R 4C1
STRATEGIC VISTA INTERNATIONAL INC.
CONSOLIDATED BALANCE SHEETS
AS AT SEPTEMBER 30, 1999 AND 1998
Note 1999 1998
---- ---- ----
ASSETS
Current:
Cash $440,685 $241,421
Accounts receivable 104,004 572,241
Inventory 277,969 899,601
Prepaid expenses and deposits 49,060 -
----------- -----------
871,718 1,713,263
----------- -----------
Long term:
Capital assets 2 139,351 203,916
Deferred charges 3 248,709 58,780
Intangibles 32,331 42,238
----------- -----------
420,391 304,934
----------- -----------
TOTAL ASSETS $1,292,109 $2,018,197
=========== ===========
LIABILITIES
Current:
Accounts payable and accrued liabilities $592,673 $1,010,013
Long term:
Debentures payable - 1,500,000
----------- -----------
592,673 2,510,013
----------- -----------
SHAREHOLDERS' DEFICIT
Capital stock 4 4,146,627 2,377,977
Deficit (3,447,191) (2,869,793)
----------- -----------
699,436 (491,816)
----------- -----------
TOTAL LIABILITIES LESS SHAREHOLDERS'
DEFICIT $1,292,109 $2,018,197
=========== ===========
CONSOLIDATED STATEMENTS OF LOSS
YEARS ENDED SEPTEMBER 30, 1999 AND 1998
Note 1999 1998
---- ---- ----
REVENUE
Sales $2,803,554 $3,408,252
Cost of sales 1,979,636 2,910,268
------------ ------------
Gross profit 823,918 497,984
------------ ------------
Royalties and commissions 321,405 -
Provision for loss on joint
operations 5 (230,000) -
------------ ------------
91,405 -
------------ ------------
936,446 497,984
------------ ------------
EXPENSES
Selling 516,407 1,021,479
Administrative 707,223 832,335
Amortization of long term assets 6 264,524 404,799
Interest 4,567 17,427
------------ ------------
1,492,721 2,276,040
------------ ------------
NET LOSS $(577,398) $(1,778,056)
============= ============
LOSS PER COMMON SHARE 7 $(0.045) $(0.310)
============= ============
STRATEGIC VISTA INTERNATIONAL INC.
CONSOLIDATED STATEMENTS OF DEFICIT
YEARS ENDED SEPTEMBER 30, 1999 AND 1998
1999 1998
---- ----
BALANCE AT THE BEGINNING OF THE YEAR $(2,869,793) $(1,091,737)
Net loss (577,398) (1,778,056)
------------ ------------
BALANCE AT THE END OF THE YEAR $(3,447,191) $(2,869,793)
============ ============
STRATEGIC VISTA INTERNATIONAL INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED SEPTEMBER 30, 1999 AND 1998
1999 1998
---- ----
CASH WAS PROVIDED FOR (USED IN):
OPERATING ACTIVITIES
Net loss $(577,398) $(1,778,056)
Item not affecting cash:
Amortization of long term assets 264,524 404,799
------------ ------------
(312,874) (1,373,257)
------------ ------------
Changes in non-cash working capital balances related to operations:
Accounts receivable 468,237 (8,512)
Inventory 621,632 (297,400)
Prepaids and deposits (49,060) -
Accounts payable and accrued liabilities (417,340) 224,276
------------ ------------
623,469 (61,636)
------------ ------------
310,595 (1,434,893)
------------ ------------
FINANCING ACTIVITIES
Issue of common shares 268,650 -
Debentures payable - 1,500,000
------------ ------------
268,650 1,500,000
------------ ------------
INVESTING ACTIVITIES
Purchase of capital assets (164,210) (122,433)
Deferred charges (203,197) (154,003)
Intangibles (12,574) (15,635)
------------ ------------
(379,981) (292,071)
------------ ------------
INCREASE (DECREASE) IN CASH 199,264 (226,964)
Cash at the beginning of the year 241,421 468,385
------------ ------------
CASH AT THE END OF THE YEAR $440,685 $241,421
============ ============
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