SPO Global Inc (OTCMKTS:SPOM) shares were flat at $0.00030 on Monday and unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.02. The company has a market cap of $56,500 at 188.53 million shares outstanding.
SPO Global Inc is a technology company that is engaged in licensing software, supporting contracts, and the provision of performance testing consultancy and install services. Through Reflective Solutions Ltd, it sells its software performance testing and monitoring software with its own Intellectual Property to enterprises in North America and Europe and the rest of the world. The principle software products of Reflective Solutions Ltd. include Stress Tester, which is a performance stress testing solution for enterprise applications, and Sentinel, which provides a monitoring solution. Sentinel provides enterprise customers with software as a service while Stress Tester enables users to create real-life performance tests and identify performance problems and eliminates bottlenecks in all Web and server applications.
In its shareholder update this week, SPO Global Inc announced that it was able to release its financials in the OTC Market after receiving an unsolicited offer.
While the Q3 results reflects the company focus on this unsolicited offer, I am pleased to inform all our shareholders that the Q4 revenue estimates will be in a different league and in excess of $80,000 , which will be a record quarter in the year 2016,” remarked SPO Global Inc CEO Owen Dukes.
To be specific, these revenues will come from a few of the completed performance testing contracts since October this year. This includes an initial contract to provide software testing services to the Kuwait National Petroleum Company that has resulted in revenues of $20,000 and further added services and revenues for 2017. In the state of Washington, SPO Global Inc is closing the final testing that will result in initial revenues of $22,000 plus long terms revenues for services.
Over in the United Kingdom, SPO Global Inc has completed the full testing for the worlds leading commercial property and real estate services adviser, resulting in an initial revenue of $28,000 plus further revenues for 2017. The company has also received renewals from a number of major customers, including Equiniti and Southampton University, and Nova Scotia Power in Canada that has resulted in revenues of more than $25,000.
Our business is now running full steam ahead, and I am pleased to inform all our shareholders, that we are expanding our technical sales with an additional 2 people bringing us to a 9 strong team,” added Dukes. “Our pipeline is fantastic, especially compared to 2016, and I estimate actual revenues for 2017 of at least $400,000 which will be 150% increase over 2016.”
Aside from that, Dukes mentioned that SPO Global Inc has started to raise finance for the expansion of the companyand that any new investment will be based upon on a minimum of one year fixed term note before any shares will be issued for repayment. In line with this, they have a legal obligation to meet the financing terms and conditions and therefore has increased it’s authorized its shares on the 4th November, to 1,998,000,000 common shares.
The value of the business can be verified by the increasing amount of contracts we are winning with major enterprises around the world, and my confidence in increasing our employees to meet this demand, will result in that all shareholders will be part of an on-going fast growing valuable software company, with a robust and scalable IP, that I am confident will be seen in the much higher share price of our company over the next 12 months,” Duke concluded.
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