Last C$0.16 CAD
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As of 10:37 AM 08/25/14 All times are local (Market data is delayed by at least 15 minutes).

nightingale informatix corp (NGH) Snapshot

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11/6/13 - C$0.30
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11/25/13 - C$0.12
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nightingale informatix corp (NGH) Details

Nightingale Informatix Corporation is engaged in the development, sale, and support of application software and related services to customers in the healthcare industry in Canada and the United States. Its products include cloud-based clinician and community-based electronic medical records, electronic health records, and integrated practice management products that enable physicians and nurse practitioners at primary care practices, multi-physician outpatient clinics, and hospitals, as well as government and regional health organizations to automate business and clinical functions. The company was founded in 2002 and is headquartered in Markham, Canada.

Founded in 2002

nightingale informatix corp (NGH) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$250.0K
Chief Financial Officer and Secretary
Total Annual Compensation: C$200.0K
Executive Vice President of Operations
Total Annual Compensation: C$199.8K
Executive Vice President of Sales
Total Annual Compensation: C$150.0K
Compensation as of Fiscal Year 2014.

nightingale informatix corp (NGH) Key Developments

Beedie Capital Partners to Invest $3.5 Million in the Form of Secured Term Loan in Nightingale

Nightingale Informatix Corporation announced that it has received a commitment letter from Beedie Capital Partners for a $3.5 million investment in the form of a secured term loan. The commitment is subject to a number of conditions, including, the completion of definitive documentation and the receipt of all necessary third party approvals, including the approval of the TSX Venture Exchange. The Term Loan, which is expected to close in September 2014, will bear interest at a rate of 12% with monthly interest payments being due on the last day of each month and will mature in December 2016. In connection with the Term Loan, the Lender will receive 6.25 million warrants to purchase Nightingale Informatix Corporation Common Shares with an exercise price of $0.16 per share. The warrants will expire on December 31, 2016 if not exercised prior to that time. The Term Loan shall be subordinate to the company's existing senior loan facilities and will contain customary covenants, including specific financial and change of control covenants. The Company will pay a commitment fee equal to 2% at the time of Closing. Proceeds from the Term Loan will be used to for general working capital associated with the launch of the company's next generation product Nexia, to redeem the outstanding Series B Convertible Debentures in the principal amount of $410,000 and to retire the $1.5 million bridge financing advanced earlier this month.

Nightingale Informatix Corporation Announces Note Offering

Nightingale Informatix Corporation announced it has completed a non-brokered private placement of a secured note in the principal amount of $1,500,000. The Note was purchased by 1604697 Ontario Inc. The note will become payable on the date that is the earlier of: August 18, 2015; the date that Nightingale enters into a loan agreement with either the Lender or a third party regarding a loan in the minimum amount of $1,500,000; and the date Nightingale completes an equity financing resulting in net proceeds to Nightingale of at least $1,500,000. The note bears interest at a fixed rate of 11% per annum, calculated and payable monthly in arrears on the last day of each month, starting on August 31, 2014. The note is secured by all of the corporation's present and subsequently acquired property and assets and shall be subordinated to certain defined senior indebtedness. In connection with the note, the lender has also received a commitment fee in the amount of $45,000. The proceeds of the Note are intended to be used by the corporation for general corporate purposes.

Nightingale Informatix Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended March 31, 2014

Nightingale Informatix Corporation announced unaudited consolidated earnings results for the fourth quarter and year ended March 31, 2014. Revenue was CAD 4.0 million, down 24% compared to CAD 5.2 million in fourth quarter of 2013. The variance from 2013 primarily reflects a decrease in software license revenues from enterprise contracts as well as a decrease in professional services revenues. Adjusted EBITDA was CAD 0.4 million, 10% of revenue, down from CAD 1.0 million or 20%. Net loss was CAD 0.6 million compared to net income of CAD 0.9 million a year ago. Cash provided by operations was CAD 1.5 million compared to cash used by operations of CAD 0.7 million a year ago. Operating loss was CAD 57,000 against CAD 48,000 a year ago. Basic and diluted loss per share was CAD 0.01 against income per share of CAD 0.01 a year ago. Revenue was CAD 15.3 million, down 27% compared to CAD 20.9 million from 2013, primarily reflecting a decrease in software license revenues from enterprise contracts. Adjusted EBITDA was CAD 0.9 million, or 6% of revenue, down from CAD 3.7 million, or 18% of revenue for 2013. Net loss was CAD 3.0 million compared to net income of CAD 2.0 million for 2013. Cash provided by operations was CAD 0.9 million compared to cash used in operations of CAD 1.7 million in 2013. Operating loss was CAD 726,262 against operating income of CAD 1,292,730 a year ago. Basic and diluted loss per share was CAD 0.04 against income of CAD 0.02 a year ago. Loss before tax was CAD 2,893,851 compared to CAD 778,161 a year ago.


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