Due Diligence for Investors in Force Protection Video Equipment Corp.
We have included a company press release, linked below, that talks about a Northern California law enforcement department choosing the FPVD body camera over other brands and gives the reasons why. The company 10-Q for the period ending July 31, 2015 contains the FPVD financials and details of financing agreements. The Barchart analysis gives the crucial company data along with key statistics and current charting models.
Our View: The Company is in a business that will continue to grow as America scrambles to equip law enforcement with body cameras. The FPVD LE-10 camera seems to be a viable option. By all accounts it is easy to use, reliable and very competitively priced.
In the past several months, according to company 8-K filings, FPVD has been borrowing money. At July 31, 2015 the company had very little cash on hand so financing the delivery of camera orders would have been difficult. We hope the cash generated from the recent financing will be used to that end.
FPVD has been conservative in its operating expenses so far, but hasn’t had much revenue either. We will wait for future financial statement to find out if the borrowed money translates into more revenue and if the company’s operating costs remain reasonable.
FPVD – Press Release – September 17, 2015
http://www.otcmarkets.com/stock/FPVD/news
FPVD – Form 10-Q – September 9, 2015
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10904783
Barchart.com – Analysis – November 18, 2015
http://www.barchart.com/quotes/stocks/FPVD
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