VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 20, 2016) - TIMIA Capital Corp. ("TIMIA" or the "Company") (TSX VENTURE:TCA) is pleased to provide this corporate update based upon its activities up to November 30th, 2016, the Company's fiscal year end.
This update is based upon unaudited results available to management as of the date of this release.
- has invested a total of $4.25 Million into 4 companies, up from $1.5 Million in 2 companies at November 30, 2015.
- has grown monthly cash payments received to over $75,000 while ensuring all portfolio investees are current in their payments, and
- seen 28% average annual growth in the revenues of the underlying portfolio companies.
"The TIMIA team is excited about our growth in 2016 and looks forward to even greater growth in 2017," said Mike Walkinshaw, CEO of TIMIA. Mr. Walkinshaw, along with Greg Smith, CIO of TIMIA, has a long background in both equity and debt investments for early stage technology companies.
TIMIA's unique yield focused model provides access for public market investors to private software companies in a diversified portfolio approach.
Growth in Revenue Finance Investments
TIMIA's portfolio of Revenue Finance investments has grown to $4.25M invested in 4 companies; QuickMobile, iCompass Technologies, Lambda Solutions, and Predictable Revenue.
Payments Received from Investee Companies
TIMIA has collected payments, representing both interest and principal payments, from its four investee companies totalling $586,000 since August 2015, the inception of the current business model. All investee companies are current in their payments.
These monthly cash payments received from TIMIA's investee companies have grown to over $75,000 per month as of November, 2016, an annualized cash payment run rate of over $800,000.
Revenue growth is a key performance indicator for our portfolio companies.
Our portfolio is performing in line with our expectations and has shown a 28% portfolio wide annualized revenue growth rate dating back to March, 2015 (normalized to 100 and including portfolio company results from both before and after TIMIA investment).
On November 29th, 2016, TIMIA announced a $1 Million 5 Year 8% Debenture Offering and expects to invest the proceeds into its Revenue Finance business, with further new investments as early as the first quarter of 2017.
About TIMIA Capital Corp.
TIMIA Capital Corporation is a specialty finance company that provides revenue financing to technology companies in exchange for a royalty stream on revenue. The alternative financing option compliments both debt and equity financing, while allowing entrepreneurs to retain control of their business. TIMIA's target market is the fast-growing growing business-to-business software-as-a-service (SaaS) segment. TIMIA is run by a seasoned investment team with a track record of originating and managing debt and equity investments, as well as monitoring, compliance and workouts.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include the expected use of the proceeds of the recently announced debenture offering and future Revenue Finance Investments. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. To the extent any forward-looking statements herein constitute financial outlook, they were approved by management as of the date hereof and have been included to provide an understanding with respect to TIMIA's financial performance based on management's assessment of the relevant information currently available. Any financial outlook information contained in this news release about prospective results of operations, financial position or cash flows is based on assumptions about future events including economic conditions, the performance of its portfolio companies and proposed courses of action. Readers are cautioned that such financial outlook information contained in this news release should not be used for purposes other than for those for which it is disclosed herein. The Company disclaims any obligation to update the forward-looking statements except as required by law.