Vancouver, British Columbia, April 18, 2012 - Toronto based eResearch has issued a StockPotentials report on Northcore Technologies (TSX:NTL) (OTCBB:NTLNF). StockPotential reports cover smaller companies that have little or no following on the Street, that eResearch believes would be primarily of interest to retail investors.
The company is a global provider of enterprise level software and services, having developed a proprietary software solution, Working Capital Engine, which helps organizations source, manage, appraise, and sell their capital equipment. The company also owns 50% of GE Asset Manager LLC, a joint-venture with General Electric Company, which enables leading organizations worldwide to access more capital from their assets.
The company`s clients are involved in a number of sectors and have included Kraft Foods, Home Hardware, The Toro Company, Hyster Company, Paramount Resources, and Ireland-based Health Services Executive.
In June 2011, the company announced strategic changes to both its Board of Directors and its management team in an effort to increase the company`s expansion into new high-growth consumer markets.
The company has developed a new business strategy to focus on helping corporations use social media applications to accelerate buying and selling, and is focusing on new business acquisitions in this area. In March 2012, Northcore acquired Envision Online Media, an Ottawa-based software development company and Microsoft Partner. In January, the company acquired the collected Intellectual Properties commonly known as the "Discount This Platform".
Amit Monga, Northcore`s CEO stated, "This acquisition is a significant step forward for Northcore. We are now positioned to control several of the most promising new innovations within the Group Purchase and Social Commerce domains."
For 2011, revenues rose approximately 35% to $786,000, as Northcore benefited from higher social commerce revenues related to group purchase platform and application implementation for the company`s strategic partners.
eResearch cautions that the company is not yet profitable and requires periodic equity issues to fund its growth, and it may be subject to competition from larger, financially stronger companies.
Northcore is trading at $0.12, and with approximately 227 million shares outstanding, is capitalized at $27 million.
For more information about Northcore please visit their website at www.northcore.com or call 416-640-0400 or email InvestorRelations@northcore.com
For a copy of the report, contact eResearch at www.eresearch.ca. While on their site, sign up for their free reports. eResearch does not receive a fee for the preparation and publication of StockPotentials reports.
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