March 2022 Shareholders Update
Dear Shareholders,
A winter saying goes “When it snows, you have two choices: shovel or make snow angels.” MPP has been busy doing both since the update last fall!
Eligere, EligereDirect, TrustedShare.com and MDGuest
The work on rebranding Eligere to TrustedShare.com has begun! The release, (currently) scheduled for May, will feature a number of user-requested enhancements and improvements that will benefit our MDGuest and EligereDirect clients.
JustRingTheBell (JRTB)
We launched JRTB as planned. Besides the partnership with Real Estate Wealth Lab (REWL), there are new and exciting developments in this space. We’ll keep you posted.
LandNinja
CalTen’s LandNinja partnership with MPP is evolving rapidly these days with the formal partnership of Britt Radius land and the start of focus group design sessions. These have been well attended by experts from multiple lines of the land management business. With the rapidly evolving global political situation, we expect to hit the market at a good time with the possible relaxing of cross-border pipeline restrictions and drilling limitations leading to an increase in petroleum land activity.
Equity Updates
MPP officially announced our Round B offering in February. In the last 6 weeks, we have fully closed on the sales of over 100,000 shares and have 140,000 further shares under offer pending acceptance of their offer paperwork. Inquiries have been made on 135,000 additional shares, but we have not proceeded to confirm pricing or closing terms on those.
We remain committed to the goal of selling 500,000 shares to raise $500,000 in growth capital and are pleased with the market’s response to our investment opportunity thus far. We are presently exceeding the rate of equity sales we saw during our Seed round offering in April and May of 2020, which was in itself a success for our organization. A reminder to all of our investors - this is a non-dilutive offering as we are offering unsold shares issued when the company was created, we are not issuing new shares for this offering.
If you are interested in acquiring any additional equity, or know of any colleagues that may be interested, please contact us at info@mppsoftware.com for an investor information package that you can help us distribute.
The Plan for FY 2022-23
With our second fiscal year coming to an end in 6 weeks, the team and I are spending more of our time looking to the future. There is considerable optimism about our prospects over the next year, and we are driven to see the company continue its rapid growth ambitions. A few bullet points we are seeing:
We have a proven business model with professional services augmenting strategic development, allowing us to bring revenue into the company while software sales ramp up. This will extend our longevity and continue to give us flexibility in where and how we focus development efforts.
The partnership with REWL opens the door for a low overhead, high cashflow product line and we hope to see very rapid adoption of this solution in Canada in FY3.
A healthy pipeline looks to generate strong mid-to-long term growth, and we are converting pipeline opportunities at a decent rate right now.
Finally, our Round B raise, supplementary 3rd party financing, and potential partnership income all look to stabilize us as a business to the point where we are not just profitable, but also cashflow positive on a month-to-month basis.
As we go into 2022-23, it is my hope that we can smoothly exit “startup” stage and become a cash-generating small company while continuing our trajectory of high growth.
As always, I cannot say '“thank you” enough to our many shareholders and business partners who enable us. We truly appreciate the opportunity to be doing what we are doing, and I look forward to updating you on more exciting news shortly.
Oh, and teaser for the next update – MPP got to audition for Dragon’s Den again this year, and we crushed the audition this time. I’ll let you know how that process is progressing!
Thanks everyone,
Colin Moreland
