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Sofame Investor News
(TSXV: SDW), (OTC: SFMGF)
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Editor's Message
Welcome to this issue of Sofame Investor News on how your company helps facilities managers around the globe by recapturing waste energy to reduce fuel costs, CO2 and NOx emissions. Please let us know what you think of this issue and how we can help better serve you.
If you believe global warming is a trend, increase the visibility of Sofame. Help make others aware of the good work Sofame is doing to address one cause of climate change, industrial energy waste.
Share this e-mail or any of the content on the main social media sites. Also please JOIN SOFAME on Facebook, Linked-In and Twitter and share these sites with your social media contacts! This is important in the digital world we have created. Sofame was featured in the magazine Canadian Industry Online in October 2013. It's a great exposé on our mission. Read it here! If you missed our new video in the last newsletter, please be sure to watch the new videos below in both French and English. These were published recently, so please share them on social media to help us get the word out!
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Sofame Supplying Mobile Frac Water Heaters to Vortex Energy Services in Alberta
MONTREAL, October 10, 2014 - Sofame Technologies Inc. (TSXV: SDW) (OTC: SFMGF) is supplying mobile frac water heating units to Vortex Energy Services, headquartered in Edmonton, Alberta. Vortex has been field testing a Sofame Percofrac™ 12 unit for over a year. The system has a 12 million British thermal unit heating capacity, is fired on propane, and has demonstrated 99% thermal operating efficiency. Efficiency is an important cost consideration in the oil and gas fields, where tons of fuel must be trucked to remote areas over rough terrain. Vortex is currently completing a 36 MMBTUH trailer and two more 12 MMBTUH systems with Sofame. All Vortex systems are designed and built to CSA standards, and will be certified under the Alberta Gas Code Regulations, which have adopted CSA-B149.3-2010 "Field Approval of Fuel-related Components and Appliances".
Allan Roberts, CEO of Vortex Energy stated, "We have invested a significant amount of time and money with Sofame over the last eighteen months, to design and build mobile frac heaters which are the most efficient, and most compact on the market. The 36 MMBTUH unit we are testing later this month, has been assembled to withstand the poor road conditions and frigid temperatures in northern Alberta, where it will be put into service in November."
John Gocek, CEO of Sofame added, "Working with the team at Vortex has been a learning experience for Sofame. Mobile water heaters and fracking are new markets for Sofame, which offer more standardized products, better profit margins, repeat business, and recurring revenue opportunities through leasing arrangements. Industrial and institutional heat recovery and water heating systems have been our core business for thirty years. That knowledge base, and wealth of engineering experience, have allowed Sofame to develop a line of mobile frac water heaters in 12, 24 and 36 MMBTUH capacities. We believe this new direction will change the fortunes of the company in 2015 and beyond."
For further information: Vortex Energy Services
John Gocek Allan Roberts, President & CEO
President & CEO (780) 424-9998
Neither 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 release.
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Comments on the Third Quarter Ending June 30, 2014
MONTREAL, August 30, 2014 -Sofame custom engineers and manufactures unique, high-efficiency direct-contact heat recovery and industrial water heating systems. The Company operated in the green energy sector producing hot water and reducing emissions. Its services and products belong in the categories of Power Boiler and Heat Exchanger Manufacturing (SIC 3443) as well as NAICS 332410 Power Boiler and Heat Exchanger Manufacturing.
Accounts receivable were $ 779,796 at the end of the third quarter. As of June 30, 2014, Sofame had a confirmed order backlog of approximately $ 473,976 consisting of seven contracts in progress for a pharmaceutical plant in Montreal, a gas field energy services company in Alberta and another in Montana, a hospital expansion project in Montreal, a dairy plant, a textile plant and an oil and gas engineering company in Houston, Texas.
Revenues totalled $ 276,901 in the period versus $ 520,606 in 2013. The Company recognized revenues on two fracking system orders in June 2013, explaining the difference of ($ 243,705) (46.8%). Deferred revenues and customer deposit includes an increase of $ 105,000 representing engineering work on two projects which was completed and paid for, but not booked as sales because the equipment portion of the contract was not yet in process as of June 30, 2014.
Gross Profit Margin at June 30, 2014 was 17.2% representing $47,552, compared to a gross profit level of $ 173,658 (33.4%) in the same period in 2013.
Net gain for the fiscal quarter ending June 30, 2014 was $ 91,342 compared to $23,453 in 2013.
Other income of $199,291 resulting from the sale of the company's building offset an Operating Loss for the quarter of ($ 35,338) (-12.8%). This gain also offset all losses for prior quarters, resulting in a year-to-date net profit of $ 24,039 (2.5%) for 2014.
Depreciation of fixed assets was $ 20,971 and Amortization of intangible assets was $ 4,518 totalling $25,489 for the period. It is important to note that amortization of intellectual property; principally the $ 772,375 invested in developing and patenting the Sofame Steam Pump®, was completed in 2013. This had a positive impact on net earnings in the first quarter of 2014. Interest on debts of the Company totalled $ 21,496.
EBITDA was $ 189,442 (68.4%) for the period.
Cash flow generated by operations in the third quarter was $ 116,831 in 2014 versus $95,358 in the third quarter of fiscal 2013.
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Natural gas used for heating is much cleaner than coal, but it still produces greenhouse gas. To help reduce natural gas consumption, Montreal-based company Sofame Technologies has developed a clean technology to recuperate residual heat from steam boilers. Ecole Polytechnique is one of places that has invested in this technology to improve its energy efficiency. In the second of eight videos that will highlight green technology in Quebec, video blogger Véronique Paquette-Corriveau of Ecotech Quebec discovered how the engineering school is able to heat two buildings for the price of one with Sofame's made-in-Québec innovation.
En video: Maximiser le gaz naturel (cliquez)
 Journal Metro, Montrel, 28 juillet 2013Le gaz naturel destiné au chauffage est bien moins polluant que le charbon, mais il émet tout de même du CO2! Pour permettre de réduire la consommation de gaz naturel, l'entreprise québécoise Sofame Technologies a développé une technologie propre permettant de récupérer la chaleur qui s'échappe normalement d'une chaudière à vapeur. Comme plusieurs aéroports, hôpitaux et usines, Polytechnique Montreal a investi dans cette technologie pour améliorer son rendement énergétique. La vidéoblogueuse Véronique Paquette-Corriveau de
a découvert comment cette école d'ingénierie chauffe deux bâtiments pour le prix d'un grâce à cette innovation québécoise.
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| So Energy Efficient. Sofame. |
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