June 2022 Shareholders Update
Dear Shareholders,
MPP Software has entered an exciting phase in our growth. There are many things going on and I have condensed these into some key points in this update. As always, if you have other questions or want to know more about a specific point in this update, please don’t hesitate to reach out.
TrustedShare Launch
The Eligere application re-launched under the new name TrustedShare in early June. In conjunction with the re-launch, our talented development team has added new features including an availability integration with AirBnB and the ability to rent additional asset types includes boats, planes, campers, and cars, or package multiple assets together under a single booking package. The new version has been well received, and we have already had several new multi-property owners join the system since the system went live.
Professional Services (Consulting)
In alignment with our strategic plan to diversify the company’s revenue sources, MPP has expanded its consulting offering. We have to date secured high level consultant placements with our partners, the largest of which is one of the top providers of financial services to Canada’s Big 5 banks.
Business in a Kit (Biak)
Under contract to a local Alberta-based small business, MPP has been developing a new online marketplace app called Biak (buy-ak), which stands for Business in a Kit. The owner, Pam Ollerhead, is launching the made-in-Canada marketplace in early July and we are pleased to have helped another local entrepreneur realize her digital business vision through this partnership. Good luck Pam!
Company Performance
MPP ended our second fiscal year at the end of May, posting a small profit. Our cash position is stabilizing with the new consulting agreements now in place and generating additional monthly revenue. As we enter our 3rd year of business, MPP is preparing for growth across all sectors of the business. We are going to be a million-dollar annual revenue business in 2022-23, with the possibility to pass $2MM / year this year.
Equity
There is a final month left in the Round B offering. 240,000 Class B shares remain available for purchase. We also have some Founder and Class A shares available from private sellers at this time. For those interested, check our website for a list of available share offers and ask prices.
Next Steps
From here, we will continue the rapid growth of the business and aim to sustainably grow and protect our profit margin.
Thank you all for your ongoing support of small business in Canada. As always, please contact me if you have any questions.
Colin Moreland
CEO
