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McCoy Global Inc MCCRF


Primary Symbol: T.MCB

McCoy Global Inc. is a Canada-based provider of technologies and equipment designed to support tubular running operations, wellbore integrity, and assist with collecting critical data for the global energy industry. It is focused on well construction using automation and machine learning to maximize wellbore integrity and collect precise connection data critical to the global energy industry. Its core products are used primarily during the well construction phase for both land and offshore wells during both oil and gas exploration and development. Its cloud-based, real time, remote data transmission infrastructure supports its ability to integrate, digitize, and automate the historically manual processes of tubular make-up through its SmartTR automated casing running system. Its product suite includes Virtual Thread Rep, SmartCRT, SmartFMS, McCoy’s Smart Tong, and McCoy’s Smart Tailing Stabbing Arm. The Company operates in Canada, the United States, and the United Arab Emirates.


TSX:MCB - Post by User

Comment by Possibleidiot01on Mar 17, 2021 7:47pm
120 Views
Post# 32822718

RE:2020 Results

RE:2020 ResultsNot great but also not awful.
I have read it three times so I think I'm having a stupid day but it seems to me , results look OK to better on an EBITDA basis which to me indicates good financial mangement

I did find this part interesting

"Due to financial uncertainty caused by the COVID-19 pandemic, the Corporation initially reduced its planned 2020 annual capital budget of US$2.7 million by 60%. However, the Corporation successfully secured a term facility in October 2020 , which allowed the Corporation to reinstate the capital spend for the procurement of product prototype materials with only modest impact to key milestones as initially planned. As such, capitalized development expenditures for the year ended December 31, 2020 include $0.9 million of external costs for product prototypes for McCoy's SmartCRT TM and SmartFMS TM . "
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