Welcome to our dedicated page for CISCOM news (Ticker: ciscf), a resource for investors and traders seeking the latest updates and insights on CISCOM stock.
Ciscom Corp. is a Canadian holding company that actively invests in, acquires, and manages companies within the Information and Communication Technology (ICT) sector. With a focus on SMEs, Ciscom targets entities with proven profitability to enhance shareholder value through strategic acquisitions. The Company's recent financial performance shows consistent growth, with positive cash flows and improved revenues. The Q1 2024 financial statements indicate a year-over-year increase in revenues, gross profit, and EBITDA, demonstrating the effectiveness of Ciscom's operational initiatives in a challenging economic environment. Michel Pepin, President & CFO of Ciscom Corp., highlighted the Company's commitment to innovation and excellence, positioning it for strategic growth opportunities and competitive advantage.
Ciscom Corp. (CSE: CISC, OTCQB: CISCF) has changed its auditor from SRCO Professional to McGovern Hurley LLP, effective June 12, 2024. The change was approved by the board of directors and the audit committee. The previous auditor, SRCO Professional , had no reservations, modified opinions, or reportable events related to its audits of the company. The necessary documents regarding the change have been reviewed and approved, and filed through SEDAR+.
Ciscom Corp. (CSE: CISC; OTCQB: CISCF), a company specializing in investments, acquisitions, and management within the Information and Communication Technology sector, has scheduled its Annual and Special Meeting of Shareholders for August 20, 2024.
Only shareholders of record as of July 2, 2024, will be eligible to vote at the meeting. Meeting materials will be accessible on the company's website and its SEDAR+ profile.
Further announcements will be made in due time. For more information, shareholders are encouraged to contact the company directly.
On May 23, 2024, Ciscom Corp. (CSE: CISC, OTCQB: CISCF) provided updates on its shareholdings and business developments. Concerns were raised about DLT Resolution Inc.'s alleged share ownership, which was deemed unqualified and unlawful. Despite DLT's May 3, 2024 announcement to unwind share exchanges, Ciscom reported that DLT still held shares. Ciscom continues to focus on its core business in the ICT sector, reporting strong Q1 2024 results. New board members, Stephen Lautens and Angel Valov, were added to bolster business growth and governance.
Ciscom Corp. (CSE: CISC, OTCQB: CISCF) has appointed Angel V. Valov and Stephen Lautens to its board of directors. Valov, with over 15 years’ experience in risk management and institutional money management, and Lautens, a seasoned executive in communications, business development, and investor relations, bring valuable expertise to the board. Lautens was involved in the successful sale of Inter-Citic Minerals for $260 million. Valov has worked with major financial institutions like Polar Asset Management and Scotiabank. Ciscom aims to leverage their experience to grow its portfolio in the Information and Communication Technology sector. Julia Robinson has resigned from her role as a non-executive director due to personal and professional priorities.
Ciscom Corp. reported steady financial growth in the first quarter of 2024, with revenues increasing to $7.4 million, up 1.6% year-over-year. Gross profit also rose to $1.4 million, a 7.4% increase, with improved margins of 19.2%. The company achieved a cash-adjusted operating profit (EBITDA) of $0.253 million, showcasing a significant improvement from the previous year. Despite a net loss of $0.259 million, Ciscom generated positive cash flows of $0.675 million. The company remains in good standing with banking partners and is focused on further growth through strategic acquisitions and client-centric services.
DLT Resolution Inc., a publicly traded acquisition company, provided an update on its share exchange transactions with Ciscom Corp., aiming to consolidate ownership but later unwinding due to regulatory issues. DLT issued shares to Concerned Shareholders and entered new agreements with Subject Shareholders. The company focuses on growth initiatives and aligning with disenfranchised shareholders. DLT's ownership position in Ciscom changed from 42.05% to 0%. The closing price per Ciscom common share was $0.09.
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