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$AAO.ca Augusta Successfully Completes Proof-of-Concept Contract

Posted by Er at 10:17 AM on Wednesday, January 10th, 2018

  • Successfully completed a proof-of-concept test using the FIBOS Fiber Bragg Grating Technology
  • Contract consisted of FIBOS engineers bonding a number of optical strain sensors to a test jig
  • FOX-TEK$a company, is able to meet new demands and, to be able to provide solutions in new areas—such as the nuclear sector.

“The success of the proof-of-concept test clearly demonstrates the ability of the Corporation to address the continuing changing needs of its clients,” commented Allen Lone, President and CEO of the Corporation. “The Corporation is continuously pursuing opportunities in previously untapped markets and services.”

About the Corporation

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and Fox-Tek Canada Inc. (“Fox-Tek”), the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment.

Fox-Tek provides world leading solutions to various sectors including the oil and gas industry. With non-intrusive technologies including fiber-optic sensors and electric field mapping systems, Fox-Tek is able to accurately measure changes that could negatively impact our client’s operations.

Corporation contact:

Allen Lone, President and C.E.O.
Tel: 905.275.8111, Ext. 226, email: atlone@fox-tek.com

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 release.

FEATURE: $AAO.ca Augusta Industries 3rd Quarter Results: Developments Beyond the Numbers

Posted by Er at 5:22 PM on Thursday, November 30th, 2017

 

Augusta Industries 3rd quarter results announced today include developments that require observation beyond the revenue numbers, Marcon’s backlog of sales revenue of $1.9M notwithstanding.  FOX-TEK’s business developments are the reason why shareholders can confidently look past the numbers contained within the Q3 results and delve into the MD&A, the achievements by Augusta this quarter are impressive when evaluating beyond just the numbers. Augusta is committed to developing its suite of services to cement itself as a company with multiple avenues of revenue generation. Have a read of this small technology company’s achievements and you will come away impressed beyond just the numbers.

Marcon:

  • $1.98 Million in backlog sales
  • Four of the backlog orders are worth $1,723,000
  • The backlogs orders are valued at $680k, $604k, $284k and $155k

Fox-Tek:

  • India – multiple technical proposals & bids on a multiple of different projects, based on many of the companies technologies
  • One oil company requested a bid for2 large EFM
  • LeakDetection Technology: 4 advancements and project list to review
  • DMATPlatform: Successfully negotiated new contracts with several clients
  • Still working closely with The Trans Africa Pipeline project
  • Completed 3 site surveys for long standing client in North America & negotiating a contract with the client to convert of the competitor’s technology to Fox-Tek’s EFM technology.

About the Corporation:

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

 

For more information about Augusta and the proposed Spin-Off of FOX-TEK, watch this interview with Allen Lone on AGORACOM

$AAO.ca Augusta Announces Results for the Third Quarter and Corporate Update $PHO.ca

Posted by Er at 9:17 AM on Thursday, November 30th, 2017

 

  • Revenue of $650,000 as compared to $1,479,000 during the three months ending September 30, 2016
  • Marcon group backlog sales as on the date of the MD&A is $1,988,000
  • Gross margins were 21% compared to 13% for the three months ending September 30, 2016

Toronto, Ontario–(Newsfile Corp. – November 30, 2017) – Augusta Industries Inc. (TSXV: AAO) (the “Corporation”) is pleased to announce that it has released its financial results for the nine months ending September 30, 2017.

For the three months ending September 30, 2017, the Corporation had revenues of $650,000 as compared to $1,479,000 during the three months ending September 30, 2016. Marcon group backlog sales as on the date of the MD&A is $1,988,000. Four of the backlog orders worth $1,723,000 have a long delivery lead time. The Corporation also expects to build on the two contracts signed in 2017 by FOX-TEK worth $1,039,000 over a three year period.

Total loss from operations for the three months ending September 30, 2017 was $160,000 or a net loss of $0.001 per share compared to a loss of $74,000 or $0.000 per share for the three months ending September 30, 2016. Gross margins for the three months ending September 30, 2017 was 21% compared to 13% for the three months ending September 30, 2016 due to the change in mix between Macron and FOX-TEK sales during the period . The operating expenses in the three months ending September 30, 2017 was slightly less at $251,000 compared to $255,000 for the same period in 2016. Stock based compensation during the three months ending September 30, 2017 was $47,000 while there were no such expenses during the three months ending September 30, 2016.

Marcon group sales in the three months ending September 30, 2017 was $564,000 compared to $1,394,000 in the three months ending September 30, 2016 – a decrease of $830,000. The sales in FOX-TEK for the three months ending September 30, 2017 were $86,000 close to $85,000 sales for the three months ending September 30, 2016.


 

The financial statements, notes to the financial statements and Management’s Discussion and Analysis for the nine months ending September 30, 2017 are available on SEDAR at www.sedar.com.

Corporate Update – Business Development

Please see section on Business Development (Page 5 ) in the MD&A for the nine months ended September 30, 2017 for details.

About the Corporation:

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and Fox-Tek Canada Inc. (“Fox-Tek”), the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Corporation contact:

Allen Lone, President, CEO, Augusta Industries Inc.
Tel: (905) 275 -8111 Ext 226 email: atlone@fox-tek.com

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and as neither approved nor disapproved the contents of this press release.

Augusta $AAO.ca Subsidiary, Marcon Announces New contracts with an Aggregate Value of $694,295.00

Posted by Er at 9:30 AM on Monday, October 2nd, 2017

https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564614/hub/augustalarge.png

  • Contracts awarded with various departments of the United States government
  • Aggregate value of the new contracts entered into in September is $694,295.00
  • Pipeline of orders, including these new contracts, is $1,899,630.00 as of September 30, 2017.

Toronto, Ontario–(Newsfile Corp. – October 2, 2017) – Augusta Industries Inc. (TSXV: AAO) (the “Corporation”) is pleased to announce that its wholly owned subsidiary, Marcon International Inc. (“Marcon”), has been awarded contracts with various departments of the United States government for the supply of instrumentation and equipment. The aggregate value of the new contracts entered into in September is $694,295.00. The current pipeline of orders, including these new contracts, is $1,899,630.00 as of September 30, 2017.

“The Corporation is pleased that it continues to enter into new agreements with various entities of the United States government,” stated Allen Lone, President of the Corporation. ” We are still focusing on adding more contracts to our Sales pipeline and continue to develop our relationship with our clients for future opportunities.”

About the Corporation:

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and Fox-Tek, the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment.

FOX-TEK provides world leading solutions to various sectors including the oil and gas industry. With non- intrusive technologies including: fiber optic sensors and electric field mapping systems; we are able to accurately measure changes that could negatively impact our client’s operations.

Augusta Industries Inc.
Allen Lone
President, CEO (905) 275-8111 Ext 226 atlone@fox-tek.com