Due Diligence for Investors in Puget Technologies Inc.
The company form 10-Q gives all the company financial information and a history of the company since its 2010 founding. The recently filed form 8-k details the changing of the company management and relocation of the corporate offices. The barchart.com analysis also linked below gives the key company statistics.
Our View: Puge has gone through a few different business models over the past few years. In 2013 they were touting their involvement in the medical marijuana industry and in 2014 they claimed to be bringing a 3D printer to market with a cost under $500. They acquired the software platform for their new business model (valued at $280,000 on the balance sheet) in the travel industry in January of this year.
PUGE recently brought in a new CEO named Hermann Burckhardt with an impressive background in finance. His stated goal is to clear up the company’s current debt and work toward new financing that would hopefully be in place by 2Q 2016. The company seems to be staying with its current travel business model, even mentioning a concept called Medical Tourism.
We hope Mr. Burckhardt can breathe some new life into PUGE but we will wait to see if there are any significant changes before forming an opinion.
PUGE – Form 10-Q- September 23, 2015
PUGE – Form 8-K – October 1, 2015
Barchart.com – Analysis – October 7, 2015
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