http://www.proactiveinvestors.com Proactiveinvestors RSS feed en Mon, 21 Aug 2017 23:32:44 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - DealNet Capital boosts convertible debenture offering to $2.25 mln, closes additional tranche ]]> http://www.proactiveinvestors.com/companies/news/98450/dealnet-capital-boosts-convertible-debenture-offering-to-225-mln-closes-additional-tranche-49822.html Toronto, Ontario-based DealNet Capital Corp. (CNSX:DLS) says it has closed an additional $258,000 tranche of its non-brokered convertible unsecured debentures offering, for total proceeds of more than $2 million. 

The company, based on high demand, increased the offering from $2 million to $2.25 million, made under the same terms announced initially. 

The debentures will mature three years from their date of issuance, and bear interest at a rate of 12% per year, which will be paid quarterly.  They can be converted into common shares of the company, at a conversion rate of 20 cents per share, at any time before the earlier of the maturity or redemption date. 

DealNet has recently focused its investments towards the thriving North American Business Process Outsourcing (BPO) market, as well as the consumer financing market by leveraging its recently acquired BPO division. Its One Dealer subsidiary provides a full suite of services and financing solutions for heating, ventilation and air conditioning (HVAC) dealers and their customers, underpinned by the controls and processes of DealNet's BPO unit to serve its own consumer financing customers. 

The company has grown to close to 200 employees with a backlog exceeding $30 million, according to the statement.

Earlier this month, DealNet's Graham Simmonds stepped down as chief executive officer with Bob Cariglia, who has been president of DealNet Capital since Sept. 4, 2012, taking his place. 

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Wed, 13 Nov 2013 10:19:00 -0500 http://www.proactiveinvestors.com/companies/news/98450/dealnet-capital-boosts-convertible-debenture-offering-to-225-mln-closes-additional-tranche-49822.html
<![CDATA[News - DealNet Capital president Cariglia to succeed as CEO ]]> http://www.proactiveinvestors.com/companies/news/98253/dealnet-capital-president-cariglia-to-succeed-as-ceo-49494.html DealNet Capital Corp. (CNSX:DLS) (OTCMKTS:GAIMF), a Canadian merchant banking company, said Graham Simmonds will step down as chief executive officer today.

The new CEO will be Bob Cariglia, who has been president of DealNet Capital since Sept. 4, 2012.

Simmonds will continue to serve as the chairman of the board of directors in a non-executive capacity, the Toronto, Ontario-based company said in a statement today. Cariglia will also remain as president, it added.

"At this stage there are people who are better suited than I am to guide DealNet to the next level," the company quoted Simmonds as saying. "Bob is a talented executive with a proven track record of delivering strong performance."

Prior to joining DealNet Capital, Cariglia was the president and chief operating officer of Minacs Worldwide, which provides outsourced call centre and customer relationship management services. He was also the president of OneCommand, which provides in direct-marketing services to over 4,000 automotive dealerships in a "software as a service" environment. 

DealNet has recently focused its investments towards the thriving North American Business Process Outsourcing (BPO) market, as well as the consumer financing market by leveraging its recently acquired BPO division. Its One Dealer subsidiary provides a full suite of services and financing solutions for heating, ventilation and air conditioning (HVAC) dealers and their customers, underpinned by the controls and processes of DealNet's BPO unit to serve its own consumer financing customers. 

The company has grown to close to 200 employees with a backlog exceeding $30 Million, according to the statement.

DealNet shares were little changed at 20 Canadian cents at 2:15 p.m. in Toronto on the Canadian National Stock Exchange. 

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Fri, 01 Nov 2013 14:37:00 -0400 http://www.proactiveinvestors.com/companies/news/98253/dealnet-capital-president-cariglia-to-succeed-as-ceo-49494.html
<![CDATA[News - DealNet Capital secures multi-million underwriting capital commitment for One Dealer business ]]> http://www.proactiveinvestors.com/companies/news/98053/dealnet-capital-secures-multi-million-underwriting-capital-commitment-for-one-dealer-business-49167.html DealNet Capital Corp. (CNSX:DLS) has moved one step closer to launching the financial services component of its One Dealer business, saying it received a signed commitment letter from a "Schedule A Canadian bank" to provide $12 million in underwriting capital plus a $3 million revolving warehouse line. 

"This is a significant milestone for our One Dealer business unit that accelerates our ability to onboard dealers and launch the financial services component of our business plan," said president of DealNet, Bob Cariglia, in a statement Wednesday. 

The company's One Dealer subsidiary provides a full suite of services and financing solutions for heating, ventilation and air conditioning (HVAC) dealers and their customers, underpinned by the controls and processes of DealNet's business process outsourcing (BPO) unit to serve its own consumer financing customers. 

One Dealer Financial Services is the arm that provides consumer financing and underwriting needs. DealNet had secured the underwriting proposal earlier this year, and announced the initial news in June. 

The company said Wednesday the consumer financial services arm has accepted the commitment letter on the basis that the lender will purchase tranches of leases, loans or rental contracts, and the related receivables of various HVAC assets. 

DealNet has recently focused its investments towards the thriving North American BPO market, as well as the consumer financing market by leveraging its recently acquired BPO division - OC Communications Group (OCCGI). 

Indeed, the BPO unit has recently been bringing home the bacon for DealNet. Aside from the two $10 million contract wins in the last few months -- one of which was with a U.S. based Fortune 500 financial services client -- it also signed a three-year contract of up to $3 million. That’s $23 million in recurring revenue from inking multiple long term contracts with significant brands, all of this on top of the existing backlog. 

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Wed, 23 Oct 2013 10:01:00 -0400 http://www.proactiveinvestors.com/companies/news/98053/dealnet-capital-secures-multi-million-underwriting-capital-commitment-for-one-dealer-business-49167.html
<![CDATA[News - DealNet Capital launches services for $10 mln government contract ]]> http://www.proactiveinvestors.com/companies/news/97710/dealnet-capital-launches-services-for-10-mln-government-contract-48610.html DealNet Capital Corp (CNSX:DLS) says it launched services this week for the $10 million contract it recently signed with a major provincial goverment client. Shares surged more than 10 per cent today, to 16 cents. 

The company's business process outsourcing subsidiary, OC Communications Group (OCCGI), won the 10-year contract to provide call center support to a government services organization in August. The Toronto headquartered-company had been planning and training for the opportunity for almost a year, according to a company statement released Wednesday. 

With support commencing on the first day of October this year, the program is expected to run until at least September 2024, DealNet said. 

"OCCGI has been providing extensive Business Process Outsourcing services to other Ontario public services entities out of our Toronto center for almost five years and we are pleased to be able to leverage that experience to successfully launch another major and long term client," said president and CEO of OCCGI, and COO of DealNet, Michael Hilmer, in the release. 

The BPO unit provides inbound customer service in English and French from its Toronto-based location. The program is transitioning from another vendor that had provided support for the goverment organization for the previous 10 years. "OCCGI won the business based on our proven track record, and our deep relationships in this competitive vertical," Hilmer said.

This contract is not even the most recent win for OCCGI, having scored last month another $10 million contract with a U.S. based Fortune 500 financial services client. 

The BPO unit has been bringing home the bacon for DealNet. Aside from the two $10 million contract wins, it also signed a three-year contract of up to $3 million. That’s $23 million in recurring revenue from inking multiple long term contracts with significant brands, all of this on top of the existing backlog. 

DealNet’s focus on recurring income doesn’t stop with OCCGI. In fact, coming down the line is DealNet’s next business, One Dealer, set for a “massive” launch this month.  One Dealer will provide a host of financing and other services to heating, ventilation and air conditioning (HVAC) dealers and their customers, underpinned by the controls and processes of OCCGI to serve its own consumer financing customers. 

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Wed, 02 Oct 2013 12:58:00 -0400 http://www.proactiveinvestors.com/companies/news/97710/dealnet-capital-launches-services-for-10-mln-government-contract-48610.html
<![CDATA[News - DealNet Capital boosts size of convertible debenture offering to $2mln ]]> http://www.proactiveinvestors.com/companies/news/97441/dealnet-capital-boosts-size-of-convertible-debenture-offering-to-2mln-48192.html Toronto-based DealNet Capital Corp. (CNSX:DLS) has increased the size of its non brokered convertible unsecured debentures offering from $1.5 million to $2.0 million. 

The new offering will be under the same terms as the original financing, which was first announced late last year. 

The debentures will mature three years from their date of issuance, and bear interest at a rate of 12% per year, which will be paid quarterly. 

They can be converted into common shares of the company, at a conversion rate of 20 cents per share, at any time before the earlier of the maturity or redemption date. 

Last week, DealNet said its business process outsourcing (BPO) unit officially launched services for the $10 million contract announced earlier this month with a U.S. based Fortune 500 financial services client. 

The unit, OC Communications Group (OCCGI), has been bringing home the bacon for DealNet. The last month alone has brought news of OCCGI winning a $10 million contract over five years; a 3 year contract of up to $3 million; and another $10 million deal over 10 years. That’s $23 million in recurring revenue from inking multiple long term contracts with significant brands, all of this on top of the existing backlog. 

For the latest $10 million contract, the BPO unit is providing inbound customer service in English and Spanish from its Reno, Nevada location, with the program rolling out to four million customers.              

DealNet’s focus on recurring income doesn’t stop with OCCGI. In fact, coming down the line is DealNet’s next business, One Dealer, set for a “massive” launch this month.  One Dealer will provide a host of financing and other services to heating, ventilation and air conditioning (HVAC) dealers and their customers, underpinned by the controls and processes of OCCGI to serve its own consumer financing customers. 

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Wed, 18 Sep 2013 10:58:00 -0400 http://www.proactiveinvestors.com/companies/news/97441/dealnet-capital-boosts-size-of-convertible-debenture-offering-to-2mln-48192.html
<![CDATA[News - DealNet launches services for Fortune 500 client; initial volumes exceed forecasts ]]> http://www.proactiveinvestors.com/companies/news/97318/dealnet-launches-services-for-fortune-500-client-initial-volumes-exceed-forecasts-47979.html DealNet Capital Corp (CNSX:DLS) says its business process outsourcing (BPO) unit has officially launched services for the $10 million contract announced earlier this month with a U.S. based Fortune 500 financial services client. 

The unit, OC Communications Group (OCCGI), has been bringing home the bacon for DealNet. The last month alone has brought news of OCCGI winning a $10 million contract over five years; a 3 year contract of up to $3 million; and another $10 million deal over 10 years. That’s $23 million in recurring revenue from inking multiple long term contracts with significant brands, all of this on top of the existing backlog. 

OCCGI has been working with the latest client, the unnamed Fortune 500 financial services company, for upwards of a year planning and training for the opportunity. 

"We knew we needed to turn on a dime and deliver as quickly as possible," said COO of DealNet, and president and CEO of OCCGI, Michael Hilmer. "And that's why we win," he added. 

"We are nimble and responsive, and we are confident in our ability to close on our collective contracts. As a result, we work closely with our potential customers, even during negotiations, to ensure successful, on-time launches."

For the latest $10 million contract, the BPO unit is providing inbound customer service in English and Spanish from its Reno, Nevada location, with the program rolling out to four million customers. 

"Initial volume well exceeds the current forecasts and is expected to continue to be high through to the end of 2013 as various marketing and migration initiatives continue," DealNet said in its release, sent to markets late Wednesday afternoon. 

DealNet’s focus on recurring income doesn’t stop with OCCGI. In fact, coming down the line is DealNet’s next business, One Dealer, set for a “massive” launch this month, which Hilmer says is set to make OCCGI “a drop in the bucket” within the space of two years.  One Dealer will provide a host of financing and other services to heating, ventilation and air conditioning (HVAC) dealers and their customers, underpinned by the controls and processes of OCCGI to serve its own consumer financing customers. 

Indeed, there seems to be significant upside ahead for the company, whose shares are trading around 15.5 cents on the CNSX Exchange, giving it a market cap of $9 million. 

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Thu, 12 Sep 2013 11:08:00 -0400 http://www.proactiveinvestors.com/companies/news/97318/dealnet-launches-services-for-fortune-500-client-initial-volumes-exceed-forecasts-47979.html
<![CDATA[News - DealNet Capital finds success with recurring revenue strategy and BPO unit ]]> http://www.proactiveinvestors.com/companies/news/97241/dealnet-capital-finds-success-with-recurring-revenue-strategy-and-bpo-unit-47832.html DealNet Capital Corp. (CNSX:DLS) bills itself as having a “flexible investment mandate with a strategic focus on recurring revenue businesses” and it is one of these, subsidiary OC Communications Group (OCCGI) -- a recent acquisition in the business process outsourcing (bpo) space -- that is bringing home the bacon.

The last month alone has brought news of OCCGI winning a $10 million contract over five years; a 3 year contract of up to $3 million; and another $10 million deal over 10 years. That’s $23 million in recurring revenue from inking multiple long term contracts with significant brands, all of this on top of the existing backlog.

So just what is the secret to OCCGI’s success?

Reputation is crucial to OCCGI’s winning strategy, or as CEO Michael Hilmer puts it: “We win because we are nimble, secure, attentive and take our clients’ interest to heart .”

The CEO, who founded OCCGI in 2005, now sees his creation enjoying global relationships with some very big names, and key to those relationships is the fact that the company has “a reputation for doing what [it says it’s] going to do.”

Indeed, many of these recent wins have had their origins in existing relationships and referrals – fitting for a company that does “virtually no marketing” and has no dedicated sales people.  Years ago, Hilmer partnered with key global service provider brands that are specialists in their space, but lack the delivery capability of OCCGI and those complementary relationships have matured, driving considerable backlog for OCCGI.

While customers tend to stay and extend contracts, Hilmer says “in addition to that we’re getting a lot of referrals coming to us directly and through our business partners as their internal organizations catch wind of our mutual successes together.”

And no wonder, OCCGI carries little overhead and is thus “very competitively priced,” meaning it can compete with offshore solutions. As Hilmer points out, while many are drawn by the notional cheapness of off-shoring, it is a scenario fraught with peril.   OCCGI infrastructure and G&A can support over $30 million in annual revenue without a G&A increase, yielding healthy profits on new business and competitive pricing for new bids.

Hilmer speaks of the “extra overhead” imposed on customers who send their work offshore, in the form of diminished quality, increased supervision and high turnover necessitating continual training, which can do much to offset the dollar amount putatively saved by off-shoring.

“[Once these additional aspects are factored in] the labour rates are kind of comparable,” before even the additional factor of oversight is added – that is, personnel “flying to India or to the Philippines every quarter” as well as those stationed onsite full-time tasked with “babysitting” the operation.

A more pernicious, but less tangible and more difficult to measure hazard of off-shoring is “what the consumers think when they call.” As Hilmer points out, the lack of satisfaction that can accrue from this kind of exchange, particularly in instances in which the outside agent is inadequately trained, or the caller runs up against a language barrier, can lose even the biggest brands customers. “People will literally switch banks and carriers because of a poor offshore experience.”

“When you add up all those costs and the costs of say 2.5 per cent of your customer base leaving because they’re annoyed with a poor experience, off shoring isn’t cheaper; it can actually do more damage to the brand.”

Additionally, as Hilmer points out, poor brand equity can result from off-shoring of jobs, citing the high profile example of a Canadian financial institution, which suffered some appalling publicity as a result of 45 Canadian employees losing their jobs when the bank moved to outsource the back office support of its investor services to an offshore IT specialist.  

“They’re already taking heat in a depressed US job market. If I’m a US financial services customer and unemployed, how do I feel about them sending 1000 jobs to India? I don’t feel good about that and I express that in the only way I can – I move my accounts.”

At even the level of its most bottom line essentials, the practise is ceasing to be as competitive as it once was: “The reality is 15 to 20 years ago it was a very cheap solution, but the Indian economy has taken off, people are more sophisticated, they’re spending more money and have expectations of a certain income bracket, so the costs of off-shoring in India and South America continue to increase.”

With other developing economies that might once have taken their place, such as Egypt, experiencing political instability, Hilmer says “all those risks make it a pretty serious question as to why you would even gamble on offshore [for a comparatively small saving].”

Not only does OCCGI offer “the brands [it[ supports the comfort that [it’s] onshore”, it also proffers its clientele the even more reassuring fact that it “knows how to protect the data.”

In a world galvanized by consumer fear of identity theft, the prospect of information breaches freezes the blood in consumers’ veins and does much to erode the value of the brand associated with it, as recent well-publicized blunders by marquee names prove. “Email lists that have gone out to the public from some major brand by accident -- those are massive security breaches that impair brand equity for our customers. We’ve never had such a breach,” says Hilmer.

“We have a very tight methodology for controlling where the data is, how it’s stored, what data can be transferred back and forth what cannot be, and all of those security processes are audited regularly by the customers. Before we launch a deal, we adhere to their internal policies to make sure we’re compliant.”

Indeed, OCCGI not only accommodates the security measures of its clientele, it welcomes their scrutiny. “Our claim to fame -- and I say this to customers -- is we give them transparency,” says Hilmer. In practical terms, this means the client can track the minute by minute operations of the contract in almost every particular. “They can log into our calls, they can see how many calls are in queue, they can do all kinds of things that they can’t even do internally and they can do it in real time. We operate on a ‘we-have-nothing-to-hide’ basis.”

And it is this attitude that seems to be a factor in winning over larger clients, despite a reluctance to outsource oftentimes from big companies afraid of losing control.

“We want them to have more control through outsourcing to us rather than less,” leading to a more dynamic, real time relationship where “things happen when they need to happen.”

Another positive OCCGI offers to the massive businesses that so often make up its clientele is the focus it can provide to a line of business that might otherwise be lost in the crowd. One of OCCGI’s most recent $10 million wins is a perfect example: a large American bank charged OCCGI with administering certain service aspects relating to its credit card loyalty programs. While the bank itself certainly had the option of running such a program internally, its operation was so big, that both the attentiveness and the cost of doing so would impact its ability to generate quick results,” says Hilmer.

“This is a significant project, but it’s very hard to get internal resources rallied around, so we’re finding more and more of these lines of business have already found the budget to go outside of the organization.”

And OCCGI owes much of its current workload to large companies finding a home for relatively small offshoots.

“Huge clients outsource small deals,” says Hilmer – for example, the $10 million generated by one of the most recent deals, “that’s a pretty small transaction for a fortune 500 company,” which is not to say it is an unimportant one as “it touches every one of their credit card customers.”

The relative smallness of OCCGI also makes it more nimble.

“We can move on a dime. The customer calls me directly if needed but our exceptional team ensures that rarely happens. We’re extremely responsive as everyone in this company works 24/7, and we can make decisions really quick. For a relatively small company, getting into these massive brands is quite impressive and it’s highly referenced client base certainly helps.”

But DealNet’s focus on recurring income doesn’t stop there. In fact, coming down the line is DealNet’s next business, One Dealer, set for a “massive” launch in the month of September, which Hilmer says is set to make OCCGI “a drop in the bucket” within the space of two years.  One Dealer will provide a host of financing and other services to heating, ventilation and air conditioning (HVAC) dealers and their customers, underpinned by the controls and processes of OCCGI to serve its own consumer financing customers. 

“We think we have enough unmet demand to deploy $100 million in paper a year, every year, for the long term. Our only barrier to growth in that business is making sure we have enough underwriting and we have significant interest in this arena due to the infrastructure and banking systems we have put in place over the last 12 months.”

It is a model that shares OCCGI’s strategy of recurring revenue. “A 10 year loan means for 10 years, there is recurring revenue and EBITDA and every month, more high quality loans are added. Say you add 2,000 more loans, that’s 2,000 more payments added for another 10 years. That’s how we create value in the business and our origination methods ensure less than 3% defaults so all parties are protected while significant value is being provided to the consumers.”

“And we’re vying for a lot of investors’ money. We’re custodians of a lot of trust from dealers and large corporate brands, so I personally get wound up about making sure that the [hundreds of people in the company] are all delivering on my promise which in turn is their promise.”

This brings us back to reputation. “My whole success has been based on doing what I say,” says Hilmer.

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Mon, 09 Sep 2013 10:56:00 -0400 http://www.proactiveinvestors.com/companies/news/97241/dealnet-capital-finds-success-with-recurring-revenue-strategy-and-bpo-unit-47832.html
<![CDATA[News - UPDATE -- Shares spike as DealNet BPO unit lands blockbuster deal ]]> http://www.proactiveinvestors.com/companies/news/97151/update-shares-spike-as-dealnet-bpo-unit-lands-blockbuster-deal-47670.html Investors grew ever more confident in DealNet Capital Corp. (CNSX:DLS), as the company added 20 per cent to Friday’s closing share price following the announcement that its business process outsourcing (BPO) subsidiary, OC Communications Group (OCCGI), has been awarded a five-year contract with a major global loyalty platform provider to support what it calls a U.S.-based Fortune 500 financial services customer. 
Scheduled to launch in September 2013, the program under which OCCGI will provide inbound customer service in English and Spanish from its Reno, Nevada location, will roll out to four million customers and is expected to yield upwards of $10 million in revenue over the five-year term. 
"There was little question as to whether we were the right choice for the program given OCCGI has successfully worked with both the loyalty platform provider and the financial institution in the past," said COO of DealNet Capital Corp., and president and CEO of OCCGI, Michael Hilmer, in a statement released Tuesday.
"Over the course of the past 18 months OCCGI has worked with all parties associated with the program to ensure an efficient design and favourable outcome for the credit card holders being migrated from the old platform, and we are delighted to announce that we are at 100 per cent readiness with customer service representatives undergoing extensive training for the September 2013 launch."
DealNet Capital Corp. has recently focused its efforts towards the thriving North American BPO market, as well as the consumer financing market by leveraging its recently acquired BPO division.
Earlier in August, DealNet announced a three-year contract to provide technical and customer service support to what it calls a North American digital home entertainment services organization. That agreement is projected to yield a minimum of $1.6 million in revenue, according to the Toronto based company, with the client’s forecast driving that number as high as $3 million. Implementation is to begin this month, with full deployment expected in January of next year. 
Shares of DealNet, a merchant banking company focused on recurring revenue businesses, were trading up the day of the news, adding 3 cents to reach 18 cents per share as of 2.24pm EST. The company, which also entered the heating, ventilation and air conditioning (HVAC) market last year, is working to leverage its BPO unit to provide a better customer experience for its One Dealer subsidiary, which offers financing and other services to HVAC dealers and their customers.  ]]>
Tue, 03 Sep 2013 15:11:00 -0400 http://www.proactiveinvestors.com/companies/news/97151/update-shares-spike-as-dealnet-bpo-unit-lands-blockbuster-deal-47670.html
<![CDATA[News - DealNet's BPO unit lands $10 mln, 5-year contract to support Fortune 500 ]]> http://www.proactiveinvestors.com/companies/news/97136/dealnets-bpo-unit-lands-10-mln-5-year-contract-to-support-fortune-500-47655.html DealNet Capital Corp. (CNSX:DLS) announced Tuesday that its business process outsourcing (BPO) subsidiary, OC Communications Group (OCCGI), has been awarded a five-year contract with a major global loyalty platform provider to support what it calls a U.S.-based Fortune 500 financial services customer. 

Scheduled to launch in September 2013, the program under which OCCGI will provide inbound customer service in English and Spanish from its Reno, Nevada location, will roll out to four million customers and is expected to yield upwards of $10 million in revenue over the five-year term. 

"There was little question as to whether we were the right choice for the program given OCCGI has successfully worked with both the loyalty platform provider and the financial institution in the past," said COO of DealNet Capital Corp., and president and CEO of OCCGI, Michael Hilmer, in a statement released Tuesday.

"Over the course of the past 18 months OCCGI has worked with all parties associated with the program to ensure an efficient design and favourable outcome for the credit card holders being migrated from the old platform, and we are delighted to announce that we are at 100 per cent readiness with customer service representatives undergoing extensive training for the September 2013 launch."

DealNet Capital Corp. has recently focused its efforts towards the thriving North American BPO market, as well as the consumer financing market by leveraging its recently acquired BPO division.

Earlier in August, DealNet announced a three-year contract to provide technical and customer service support to what it calls a North American digital home entertainment services organization. That agreement is projected to yield a minimum of $1.6 million in revenue, according to the Toronto based company, with the client’s forecast driving that number as high as $3 million. Implementation is to begin this month, with full deployment expected in January of next year. 

Shares of DealNet, a merchant banking company focused on recurring revenue businesses, were trading up the day of the news, adding half a penny to reach 15.5 cents per share. The company, which also entered the heating, ventilation and air conditioning (HVAC) market last year, is working to leverage its BPO unit to provide a better customer experience for its One Dealer subsidiary, which offers financing and other services to HVAC dealers and their customers. 

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Tue, 03 Sep 2013 10:08:00 -0400 http://www.proactiveinvestors.com/companies/news/97136/dealnets-bpo-unit-lands-10-mln-5-year-contract-to-support-fortune-500-47655.html
<![CDATA[News - DealNet secures 3 year contract and at least $1.5 mln revenue ]]> http://www.proactiveinvestors.com/companies/news/96934/dealnet-secures-3-year-contract-and-at-least-15-mln-revenue-47220.html DealNet Capital Corp. (CNSX: DLS) announced Monday that its business process outsourcing (BPO) subsidiary, OC Communications Group had secured a three-year contract to provide technical and customer service support to what it calls a North American digital home entertainment services organization.

The agreement, projected to stretch across several years, is projected to yield a minimum of $1.6 million in revenue according to the Toronto based company, with the client’s forecast driving that number as high as $3 million.

September marks the beginning of implementation, with full deployment expected in January of next year. 

"OCCGI has been a provider of high quality 24/7 technical and customer support for almost 10 years,” said COO of DealNet, and president and CEO of OCCGI, Michael Hilmer in a statement released Monday.

 “We are looking forward to working with this new customer to grow and support their client base across North America.” 

Last week DealNet announced that the OC Communications Group had been awarded a 10 year contract providing call center support to what it calls a major government services organization.

It is a new contract for the Toronto-headquartered company, which has been providing services to the public services sector at the provincial level for more than three years. With support commencing on the first day of October this year the program is expected to run until at least September 2024.

Shares of DealNet, a merchant banking company focused on recurring revenue businesses, having recently geared its investments toward the business process outsourcing and consumer financing markets, trading up the day of the news, adding a penny to reach 17 cents per share, an uptick of more than 6 per cent.

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Mon, 19 Aug 2013 15:52:00 -0400 http://www.proactiveinvestors.com/companies/news/96934/dealnet-secures-3-year-contract-and-at-least-15-mln-revenue-47220.html
<![CDATA[News - DealNet Capital wins 10 year contract with major government body ]]> http://www.proactiveinvestors.com/companies/news/96932/dealnet-capital-wins-10-year-contract-with-major-government-body-47218.html DealNet Capital Corp. (CNSX:DLS) announced Friday that its business process outsourcing subsidiary, OC Communications Group (OCCGI), has won a 10-year contract to provide call center support to what it calls a major government services organization.

This is a new contract for Toronto-headquartered OCCGI, which has been providing services to the public services sector at the provincial level for more than three years. With support commencing on the first day of October this year the program is expected to run until at least September 2024.

"Government services is a highly regulated sector that requires exceptionally high standards and quality of service to support," said COO of DealNet, and president and CEO of the OCCGI unit, Michael Hilmer, in a statement released Friday. 

"We are very proud of our experience in the government services space and are excited to announce this prestigious and long-term engagement that we estimate to be worth upwards of $10 million over the course of the contract."

Shares of DealNet, a merchant banking company focused on recurring revenue businesses, having recently geared its investments toward the business process outsourcing and consumer financing markets, were flat at 16 cents on Friday.

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Fri, 16 Aug 2013 15:06:00 -0400 http://www.proactiveinvestors.com/companies/news/96932/dealnet-capital-wins-10-year-contract-with-major-government-body-47218.html
<![CDATA[News - DealNet Capital's BPO unit extends contract with "major Ontario Public Service Association" ]]> http://www.proactiveinvestors.com/companies/news/96462/dealnet-capitals-bpo-unit-extends-contract-with-major-ontario-public-service-association-46433.html DealNet Capital Corp. (CNSX:DLS) has said that its business process outsourcing (BPO) subsidiary, OC Communications Group, has secured a contract extension with what it calls a major Ontario public service association. 

The BPO unit has already been servicing the contact centre needs of the client's membership base, which includes heating, ventilation and air conditioning (HVAC) companies, elevator installation and operations, gas handling and various other trade industries, for more than three years.  According to DealNet's statement, the unit has been "instrumental in providing significant improvements to the client's member support process", and as a result, the client has exercised its option to extend the initial term of the agreement for another year, with the deal to expire on June 30, 2014. The BPO unit will look to explore opportunities with the Ontario client to expand its services and support. 

DealNet, which entered the HVAC market last year, is working to leverage its BPO unit to provide a better customer experience for its One Dealer subsidiary, which offers financing and other services to HVAC dealers and their customers. 

"We are very pleased with our progress to date servicing the needs of such a visible and highly regulated space," said COO of DealNet, and president and CEO of the BPO unit, Michael Hilmer, in a statement Wednesday. 

"We look forward to continuing to build on this established relationship working with the client to expand the scope of services that we provide."      

Last week, DealNet said that OC Communications Group was awarded a new program with what it called a "growing Canadian payments processor". Under the new program, the BPO subsidiary will be providing customer acquisition services in a business-to-business environment, offering opportunity sourcing and account adjudication services, for an initial term of three years.

Shares of DealNet, a merchant banking company focused on recurring revenue businesses, having recently geared its investments toward the business process outsourcing and consumer financing markets, were flat at 16.5 cents on Wednesday.

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Wed, 24 Jul 2013 12:32:00 -0400 http://www.proactiveinvestors.com/companies/news/96462/dealnet-capitals-bpo-unit-extends-contract-with-major-ontario-public-service-association-46433.html
<![CDATA[News - DealNet Capital's BPO unit inks deal with "growing Canadian payments processor" ]]> http://www.proactiveinvestors.com/companies/news/96331/dealnet-capitals-bpo-unit-inks-deal-with-growing-canadian-payments-processor-46222.html DealNet Capital Corp. (CNSX:DLS) says that its business process outsourcing (BPO) subsidiary, OC Communications Group (OCCGI), has been awarded a new program with what it called a "growing Canadian payments processor". 

DealNet, which entered the heating, ventilation and air conditioning (HVAC) market last year, is working to leverage its BPO unit to provide a better customer experience for its One Dealer subsidiary, which offers financing and other services to HVAC dealers and their customers. 

Under the new program announced for the OC Communications unit today, the BPO subsidiary will be providing customer acquisition services in a business-to-business environment, offering opportunity sourcing and account adjudication services. According to the terms of the three-year agreement, the BPO unit will be the "virtual extension", said DealNet, of the client providing services out of the Toronto office.

There is also the opportunity to service the processing demands of the client from DealNet's Reno, Nevada side, it said Thursday. 

DealNet also said it is in discussions with the client to provide payment processing terminals and services at "preferred pricing" to its One Dealer subsidiary, which provides a service offering that includes HVAC equipment financing, wholesale product supply, logistical support and marketing services.

"OCCGI is proud to be able to strategically build and diversify our customer base with quality programs that deliver long term value to our customers," said COO of DealNet, Michael Hilmer, who is also the chief executive of the OC Communications unit. 

"These wins are a great fit for OCCGI as they enable customers to leverage our significant economies of scale."

DealNet Capital has been working to expand its platform and services, announcing at the end of last month that its One Dealer subsidiary managed to secure a proposal for underwriting capital of $12 million from an unnamed Canadian bank for the consumer financial services arm of the business. At the time, the parties were working to finalize the agreement "as soon as practical".           

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Thu, 18 Jul 2013 09:38:00 -0400 http://www.proactiveinvestors.com/companies/news/96331/dealnet-capitals-bpo-unit-inks-deal-with-growing-canadian-payments-processor-46222.html
<![CDATA[News - DealNet says One Dealer unit secures “significant” proposal for $12 mln in underwriting capital ]]> http://www.proactiveinvestors.com/companies/news/95909/dealnet-says-one-dealer-unit-secures-significant-proposal-for-12-mln-in-underwriting-capital-45506.html DealNet Capital Corp. (CNSX:DLS) says that its One Dealer subsidiary, which offers financing and other services to HVAC dealers and their customers, has managed to secure a proposal for underwriting capital of $12 million from an unnamed Canadian bank for the consumer financial services arm of the business. 

The company, which entered the heating, ventilation and air conditioning (HVAC) market last year, has been developing its One Dealer unit to provide a service offering that includes HVAC equipment financing, wholesale product supply, logistical support and marketing services. The plan was to provide a better customer experience by leveraging call centre time through DealNet's business process outsourcing unit. 

In the financial services arm of the One Dealer business, the company said Wednesday that the "competitive" underwriting proposal will serve as the detailed basis for an ongoing relationship. The parties are working to finalize the agreement "as soon as practical". 

DealNet said the unit, which manages finance contract origination, procurement and ongoing maintenance, is also in talks with "several other interested financiers", and is expecting to provide further updates as it procures additional sources of capital. 

The financing arm has also been granted third party biller status with a utility that operates mainly in Ontario, giving the company the ability to invoice finance and lease payments as well as other One Dealer services on the homeowner's utility bill, guaranteeing more than 99 per cent collection on any payments due, according to DealNet's release Wednesday. This, said the company, creates “significant security” in the retail loan book due the ability to disconnect utility services if bills are not paid.

DealNet also updated investors with respect to One Dealer’s home services arm, saying it has completed the initial development of the One Dealer Home portal, which is designed to aggregate marketing investments made by HVAC dealers to implement a targeted digital media strategy. 

A series of HVAC dealer launch events are expected to start next month for One Dealer, which is working closely with what it confirmed as an "established North American HVAC equipment distributor" under a memorandum of understanding agreement. The events will aim to give dealers an opportunity to sign-up for all One Dealer services en masse. 

"We are very pleased to provide this update regarding the considerable progress we have made to date and look forward to the launch of these innovative and complementary service offerings near term," said president Bob Cariglia in the statement.

DealNet is a merchant banking company focused on recurring revenue businesses, having recently geared its investments toward the business process outsourcing and consumer financing markets. It said it is continuing to look for acquisition opportunities in these markets. 

Shares are trading at 20 cents on the Canadian National Stock Exchange, giving the company a market cap of just over $11.0 million.

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Thu, 27 Jun 2013 10:04:00 -0400 http://www.proactiveinvestors.com/companies/news/95909/dealnet-says-one-dealer-unit-secures-significant-proposal-for-12-mln-in-underwriting-capital-45506.html
<![CDATA[News - DealNet Capital a guest on The Next Biggest Winner this wknd ]]> http://www.proactiveinvestors.com/companies/news/95026/dealnet-capital-a-guest-on-the-next-biggest-winner-this-wknd-43983.html

DealNet Capital (CNSX:DLS) will be appearing as a guest on episode nine of The Next Biggest Winner, a nationally televised investment show on small to mid-cap companies, airing across Canada this weekend.

Shares of DealNet climbed 2 cents on the news, to 21 cents on Thursday. 

President of the company, Robert Cariglia, will discuss DealNet's "flexible investment mandate" with a strategic focus on recurring revenue businesses. 

The merchant banking company has recently focused its investments towards the North American business process outsourcing (BPO) market as well as the consumer financing market by leveraging its recently acquired BPO division.

DealNet last month launched its One Dealer subsidiary that offers a full suite of services to the HVAC industry across North America, bringing together more than 80,000 small and intermediate-sized dealers in the industry under one umbrella. The business is expected to help HVAC dealers provide a better customer experience by leveraging call center time through DealNet's BPO unit - OC Communications Group. 

Along with DealNet, Avivagen (CVE:VIV) will also be appearing as a guest on the The Next Biggest Winner, with CEO Cameron Groome to discuss the company's proprietary technology that supports the body's own systems to maintan health. 

The show will see new host George Tsiolis on screen, founder of Agoracom.com. 

The Next Biggest Winner airs nationally via IChannel in prime time, this Saturday at 7:30 pm EST, and Sundary at 6:30 pm EST. 

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Thu, 16 May 2013 14:56:00 -0400 http://www.proactiveinvestors.com/companies/news/95026/dealnet-capital-a-guest-on-the-next-biggest-winner-this-wknd-43983.html
<![CDATA[News - DealNet Capital well positioned to grow recurring-revenue businesses, it says ]]> http://www.proactiveinvestors.com/companies/news/94760/dealnet-capital-well-positioned-to-grow-recurring-revenue-businesses-it-says-43531.html DealNet Capital Corp. (CNSX:DLS), which last month launched its One Dealer subsidiary that offers a full suite of services to the HVAC industry across North America, announced Monday last year's financial results, saying it is well positioned to strategically focus invesments and grow recurring revenue businesses, with the company reporting a fourth quarter operating income before any one-time charges. 

DealNet, previously called GameCorp, last year transitioned from the gaming industry to heating, ventilation and air conditioning (HVAC) financing and services, water heater rentals and business process outsourcing (BPO), with the infrastructure of the BPO business underpinning the HVAC delivery platform.

One Dealer is designed to provide comprehensive services and financing solutions to indepedent HVAC dealers and their customers in North America, bringing together more than 80,000 small and intermediate-sized dealers in the industry under one umbrella. Specifically, the subsidiary is launching a full suite of financing and rental programs, extended warranty products, logistical support, customer services, wholesale product supply and home protection plans. 

The business is also expected to help HVAC dealers provide a better customer experience by leveraging call center time through DealNet's BPO unit - OC Communications Group. 

"We are pleased to release our audited consolidated financial statements for fiscal 2012," said chairman and CEO, Graham Simmonds, in a statement released Monday with the annual figures. 

"We have experienced better than expected growth in the last quarter which serves to provide a healthy foundation to further develop our existing BPO business and roll out of our consumer financing suite of services targeting the HVAC industry," he added.

The company reported results for the 15 months ending December 31, 2012, having changed its fiscal year-end from September 30 to December 31 to better align its reporting with its key operating subsidiary. 

Total revenues for the 15-month period totaled $2.18 million compared to nil in the 12 months to September 30 2011, with the last quarter of 2012 generating $1.46 million in revenue on the back of material new contracts signed for the company's BPO unit. 

For the three months to December 31, net loss was $0.26 million. Excluding a one-time expense of $0.47 million tied to vested stock options, however, the company actually made a net profit of $0.2 million for the final quarter of 2012. 

"The company continues to execute its strategy to leverage the BPO subsidiary to enter the consumer financing market as both a provider of alternative financing as well as other services critical to consumer finance companies," said DealNet in the statement Monday. 

"Management expects the initiative to be gross margin accretive shortly after being launched."              

Indeed, One Dealer will initially be rolled out in the Ontario market, but using the BPO unit, DealNet says the service offerings could be "easily scaled" to support a larger North American-wide dealer network. 

The launch will begin with "several initial services", the company said last month, and will be further boosted with the introduction of One Dealer Financial Services - the underwriting arm - and One Dealer Home Services - the consumer home services arm. 

In late April, DealNet said it was in various stages of signing several dealers to its program, and expects to launch the consumer home services arm in the coming weeks, with the underwriting arm to be launched shortly afterward. 

 

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Mon, 06 May 2013 14:24:00 -0400 http://www.proactiveinvestors.com/companies/news/94760/dealnet-capital-well-positioned-to-grow-recurring-revenue-businesses-it-says-43531.html
<![CDATA[News - DealNet's BPO unit adds former U.S. client through new agreement ]]> http://www.proactiveinvestors.com/companies/news/94498/dealnets-bpo-unit-adds-former-us-client-through-new-agreement-43092.html

Toronto-based DealNet Capital (CNSX:DLS) has announced that its business process outsourcing (BPO) subsidiary, OC Communications, has been awarded a new three-year agreement to provide customer acquistion services and support to a "former U.S. telecommunications client". 

The company said in a release Wednesday that the relationship between the two parties dates back to 2007. According to the statement, the client had placed many programs on hold while its business went through a restructuring phase after it was acquired. 

"This new agreement represents a re-launch of services under the client's new corporate structure," DealNet said. 

Under the new agreement, OC Communications will provide 25 new customer acquisition specialists out of its Reno, Nevada location. The first campaign to be launched under the agreement began on April 3, 2013.

"We are pleased to have been able to rekindle what has been a long and successful relationship with a former client," said DealNet in the release, citing its chief operating officer, and OC Communications' CEO, Mike Hilmer. 

"Addressing their immediate staffing needs with superior sales and service support has created the opportunity to increase utilization rates of our cost competitive Reno location. 

"A re-launch of the client's services also creates new opportunities to introduce additional campaigns in the future spanning the full breadth of our offering."

Last week, DealNet took a step to accelerate its growth as it said it formally launched One Dealer - its subsidiary that offers a full suite of services to the heating, ventilation and air conditioning (HVAC) industry across North America. 

Over the past year, the company has been developing its business model for One Dealer, which is designed to provide comprehensive services and financing solutions to indepedent HVAC dealers and their customers in North America, bringing together more than 80,000 small and intermediate-sized dealers in the industry under one umbrella. 

The One Dealer business is also expected to help HVAC dealers provide a better customer experience by leveraging call center time through DealNet's BPO unit - OC Communications Group.             

One Dealer will initially be rolled out in the Ontario market, but using the BPO unit, DealNet says the service offerings could be "easily scaled" to support a larger North American-wide dealer network. 

DealNet, previously called GameCorp, last year transitioned from the gaming industry to HVAC financing and services, water heater rentals and business process outsourcing, with the infrastructure of the BPO business underpinning the HVAC delivery platform.

The company says it continues to look for acquisition opportunities in these key markets in order to continue to drive growth. 

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Wed, 24 Apr 2013 11:21:00 -0400 http://www.proactiveinvestors.com/companies/news/94498/dealnets-bpo-unit-adds-former-us-client-through-new-agreement-43092.html
<![CDATA[News - DealNet Capital sees "overwhelming" interest as it launches One Dealer ]]> http://www.proactiveinvestors.com/companies/news/94388/dealnet-capital-sees-overwhelming-interest-as-it-launches-one-dealer-42902.html DealNet Capital Corp. (CNSX:DLS) has taken a step to accelerate its growth as it says it has formally launched One Dealer - its subsidiary that offers a full suite of services to the heating, ventilation and air conditioning (HVAC) industry across North America. 

It told investors today that dealer interest so far has been "overwhelming". Over the past year, the company has been developing its business model for One Dealer, which is designed to provide comprehensive services and financing solutions to indepedent HVAC dealers and their customers in North America. 

Specifically, the subsidiary is launching a full suite of financing and rental programs, extended warranty products, logistical support, customer services, wholesale product supply and home protection plans. 

Through One Dealer, DealNet plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

With the new service offering, the company has also launched www.onedealernetwork.com as a resource for dealers to access information on One Dealer's services. 

The news today follows on from DealNet's announcement in January, which saw One Dealer sign a strategic memorandum of understanding with a "large North American HVAC equipment distributor". 

In the statement Thursday, the subsidiary said the two parties have continued to work together with select HVAC dealers to develop the service offerings of the One Dealer program. 

The resulting program offers a "unique bundled solution", the company said, providing services that previously were only offered by the "largest of the home comfort brands". 

The One Dealer business is also expected to help HVAC dealers provide a better customer experience by leveraging call center time through DealNet's business process outsourcing (BPO) unit, OC Communications Group.

One Dealer will initially be rolled out in the Ontario market, but using the BPO unit, DealNet says the service offerings could be "easily scaled" to support a larger North American-wide dealer network. 

The launch will begin with "several initial services", the company said Thursday, and will be further boosted with the introduction of One Dealer Financial Services - the underwriting arm - and One Dealer Home Services - the consumer home services arm. 

DealNet said it is now in various stages of signing several dealers to its program, and expects to launch the consumer home services arm in the coming weeks, with the underwriting arm to be launched shortly afterward. 

"We couldn't be happier that we are crossing this threshold. The dealer feedback and interest has been overwhelming and we are currently recruiting to support the onboarding processes for what is expected to be a significant network of dealers," said DealNet in the release Thursday, citing president Bob Cariglia. 

DealNet, previously called GameCorp, last year transitioned from the gaming industry to HVAC financing and services, water heater rentals and business process outsourcing, with the infrastructure of the BPO business underpinning the HVAC delivery platform.

The merchant banking company says it continues to look for acquisition opportunities in these key markets in order to drive growth. 

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Thu, 18 Apr 2013 12:29:00 -0400 http://www.proactiveinvestors.com/companies/news/94388/dealnet-capital-sees-overwhelming-interest-as-it-launches-one-dealer-42902.html
<![CDATA[News - DealNet Capital launches customer service support for U.S. based energy retailer ]]> http://www.proactiveinvestors.com/companies/news/93877/dealnet-capital-launches-customer-service-support-for-us-based-energy-retailer-42056.html DealNet Capital Corp. (CNSX:DLS) on Tuesday said it has successfully launched its contact center support service to a U.S. based energy retailer through its business process outsourcing subsidiary, OC Communications Group (OCCGI). 

DealNet, previously called GameCorp, late last year transitioned from the gaming industry to HVAC financing and services, water heater rentals and business process outsourcing, with the infrastructure of the outsourcing business underpinning the HVAC delivery platform.

In December this past year, OCCGI signed a three-year contract with the client and has since been working closely with the energy retailer to bring their new product line and services to the market.

With today’s launch, OCCGI now provides all customer service aspects for the client including sales, customer retention and back-end office support out of its Toronto-based facility.

"We are pleased to have been able to assist this new energy client in successfully bringing their services to market,” said DealNet COO and OCCGI CEO Mike Hilmer.

“With the end-to-end scope of our services and significant best practices we bring to the engagement, we look forward to building a long term relationship underpinned by month over month energy customer growth."

“More and more customers are comfortable with OCCGI providing full end-to-end vertical market management, allowing our clients to focus on marketing their services rather than operating their front and back offices."

OCCGI has been servicing the needs of the U.S. utility industry for more than eight-years, DealNet noted, adding that the company has established “significant credibility” in the utility industry, helped by its expertise in the pre-paid and post-paid energy sectors. 

DealNet Capital, through its One Dealer business, is focused on providing end-to-end customer management and financing services to the HVAC industry through a network of HVAC dealers. 

The company’s subsidiary, OC Communications Group, is launching a full suite of financing and rental programs, logistical support, customer services, wholesale product supply and home protection plans for independent HVAC dealers and their customers in North America.

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Tue, 26 Mar 2013 13:53:00 -0400 http://www.proactiveinvestors.com/companies/news/93877/dealnet-capital-launches-customer-service-support-for-us-based-energy-retailer-42056.html
<![CDATA[Media files - Dealnet Capital says the 'market is huge' for its services ]]> http://www.proactiveinvestors.com/companies/stocktube/3607/dealnet-capital-says-the-market-is-huge-for-its-services--436.html Thu, 14 Mar 2013 09:35:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/3607/dealnet-capital-says-the-market-is-huge-for-its-services--436.html <![CDATA[News - DealNet stock gains as the company builds its HVAC financing services business ]]> http://www.proactiveinvestors.com/companies/news/92759/dealnet-stock-gains-as-the-company-builds-its-hvac-financing-services-business-40051.html

Shares of DealNet Capital Corp. (CNSX:DLS) rose more than 11% Wednesday following on the heels of its One Dealer subsidiary signing a preliminary deal for a joint marketing program with an undisclosed "large" North American heating, ventilation and air conditioning (HVAC) distributor last week. 

The company's stock rose 3 cents today to 29 cents, with its shares almost doubling in the last three months. 

DealNet, previously called GameCorp, recently transitioned from the gaming industry to HVAC financing and services, water heater rentals and business process outsourcing (BPO), with the infrastructure of the BPO business underpinning the HVAC delivery platform.

Its One Dealer business is designed to provide end-to-end customer management and financing services to the HVAC industry through a network of HVAC dealers. The subsidiary is launching a full suite of financing and rental programs, logistical support, customer services, wholesale product supply and home protection plans for independent HVAC dealers and their customers in North America. 

Through One Dealer, DealNet said it plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

The business is expected to help these dealers provide a better customer experience by leveraging fractional call center time through the BPO unit, and at the same time "authorize and encourage them to sell DealNet’s finance products and services”.

Under the terms of the memorandum of understanding announced last Thursday, both One Dealer and the large HVAC distributor will work together to design, implement and launch a "comprehensive financing and services suite" tailored for the unnamed distributor's dealer network. 

Both parties plan to launch a pilot program in February to a limited number of dealers, they said. The program will include customized customer service, and warranty and financing solutions that will allow the HVAC dealers to compete more effectively. 

A full program launch is expected to follow, subject to a successful pilot program. 

Under the deal, the parties will enter into the joint marketing program on or before April 30. 

"The HVAC market is driven by local customer-dealer relationships with significant demand for financing and rental programs," DealNet Capital's VP of financial services, Rick Henry, said last week. 

"Thousands of dealers direct their customers to traditional banking institutions to negotiate finance solutions and only a select number of dealers in the market have access to captive rental financing solutions. 

"Our goal is to assist dealers in strengthening and building on such relationships by providing them with better access to our unique full suite of financing and servicing solutions, creating a win-win scenario for all market participants."

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Wed, 30 Jan 2013 16:24:00 -0500 http://www.proactiveinvestors.com/companies/news/92759/dealnet-stock-gains-as-the-company-builds-its-hvac-financing-services-business-40051.html
<![CDATA[News - UPDATE: DealNet Capital's One Dealer unit inks joint marketing deal with "large" North American HVAC distributor ]]> http://www.proactiveinvestors.com/companies/news/92618/update-dealnet-capitals-one-dealer-unit-inks-joint-marketing-deal-with-large-north-american-hvac-distributor-39811.html DealNet Capital Corp. (CNSX:DLS) says that its One Dealer subsidiary has signed a preliminary deal for a joint marketing program with an undisclosed "large" North American heating, ventilation and air conditioning (HVAC) distributor. 

DealNet, previously called GameCorp, recently transitioned from the gaming industry to HVAC financing and services, water heater rentals and business process outsourcing (BPO), with the infrastructure of the BPO business underpinning the HVAC delivery platform.

Its One Dealer business is designed to provide end-to-end customer management and financing services to the HVAC industry through a network of HVAC dealers. The subsidiary is launching a full suite of financing and rental programs, logistical support, customer services, wholesale product supply and home protection plans for independent HVAC dealers and their customers in North America. 

Through One Dealer, DealNet said it plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

The business is expected to help these dealers provide a better customer experience by leveraging fractional call center time through the BPO unit, and at the same time "authorize and encourage them to sell DealNet’s finance products and services”.

Under the terms of the memorandum of understanding announced today, both One Dealer and the large HVAC distributor will work together to design, implement and launch a "comprehensive financing and services suite" tailored for the unnamed distributor's dealer network. 

Both parties plan to launch a pilot program in February to a limited number of dealers, they said. The program will include customized customer service, and warranty and financing solutions that will allow the HVAC dealers to compete more effectively. 

A full program launch is expected to follow, subject to a successful pilot program. 

Under the deal, the parties will enter into the joint marketing program on or before April 30. 

"The HVAC market is driven by local customer-dealer relationships with significant demand for financing and rental programs," said DealNet Capital's VP of financial services, Rick Henry, who was brought on earlier this month. 

"Thousands of dealers direct their customers to traditional banking institutions to negotiate finance solutions and only a select number of dealers in the market have access to captive rental financing solutions. 

"Our goal is to assist dealers in strengthening and building on such relationships by providing them with better access to our unique full suite of financing and servicing solutions, creating a win-win scenario for all market participants."

Earlier today, DealNet said it terminated its letter of intent to acquire Atlanta-based Home Services Company, a business that provides heating ventilation and air conditioning (HVAC) after-market protection plans to homeowners in the greater Atlantic area. 

The company said it incurred no further costs related to the termination of the preliminary deal. The Atlanta-based Home Services Company deal was meant to give DealNet an in-house offering, giving its dealers an additional product to sell. 

Shares in DealNet rose one penny to 27 cents on the back of the news Thursday.

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Thu, 24 Jan 2013 14:35:00 -0500 http://www.proactiveinvestors.com/companies/news/92618/update-dealnet-capitals-one-dealer-unit-inks-joint-marketing-deal-with-large-north-american-hvac-distributor-39811.html
<![CDATA[News - DealNet Capital bolsters management with two new key appointments ]]> http://www.proactiveinvestors.com/companies/news/92496/dealnet-capital-bolsters-management-with-two-new-key-appointments-39601.html

DealNet Capital Corp. (CNSX:DLS) has appointed Ashish Kapoor as CFO and Rick Henry as VP of financial services, the company said Thursday. 

Kapoor will be responsible for the overall finance & accounting management team and Henry will oversee the company's financial services and consumer financing business. 

Henry will develop and implement the corporate processes, policies and documentation to facilitate the company's retail finance initiative.

"We feel that Mr. Kapoor and Mr. Henry will be instrumental in advancing the company's business plans in the key markets we are targeting," said chairman and CEO, Graham Simmonds. "Both individuals make a strong addition to our leadership team and we are very pleased to welcome them both to DealNet Capital."

DealNet, previously called GameCorp, recently transitioned from the gaming industry to heating ventilation and air conditioning (HVAC) financing and services, water heater rentals and business process outsourcing (BPO), with the infrastructure of the BPO business underpinning the HVAC delivery platform.

The company is moving forward with the growth plans for OC Communications Group (OCCGI), DealNet's recently acquired BPO subsidiary.

It is also planning to launch One Dealer this quarter, a business designed to provide end-to-end customer management and financing services to the HVAC industry through a network of HVAC dealers.

Through One Dealer, DealNet plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

One Dealer is expected to help these dealers provide a better customer experience by leveraging fractional call center time through the BPO unit, and at the same time "authorize and encourage them to sell DealNet’s finance products and services”.

The management appointments announced today will help DealNet expand its initiatives. 

Kapoor has more than 12 years of experience in public accounting and investment banking, and was most recently senior VP at Macquarie Capital Markets Canada, responsible for the Canadian telecom, media, entertainment and tech group. 

Henry, meanwhile has more than 25 years in equipment and real estate financing, and as the VP and Canadian managing director, has led finance divisions for both Textron Financial and CitiCapital. 

The marriage of the BPO call center and the HVAC industry has indeed shown progress, as DealNet opened two new facilities – in Ft. Meyers, Florida and Reno, Nevada - to service large retail customers in the U.S.

Last month, DealNet said that its BPO subsidiary signed a three-year contract to provide contact centre services to a US energy retailer.

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Thu, 17 Jan 2013 16:13:00 -0500 http://www.proactiveinvestors.com/companies/news/92496/dealnet-capital-bolsters-management-with-two-new-key-appointments-39601.html
<![CDATA[News - DealNet poised to create a niche in an underserved market ]]> http://www.proactiveinvestors.com/companies/news/91910/dealnet-poised-to-create-a-niche-in-an-underserved-market-38595.html It’s been just over a month since DealNet Capital Corp. (CNSX: DLS) (OTC PINK: GAIMF) launched its new business strategy, and with the recent closing of a $625,000 private placement and a debenture offering that will raise $1.5 million, the merchant banking company is ready to hit the ground running.

DealNet, previously called GameCorp, recently transitioned from the gaming industry to heating ventilation and air conditioning (HVAC) financing and services, water heater rentals and business process outsourcing (BPO), with the infrastructure of the BPO business underpinning the HVAC delivery platform.

The new funds it has gathered will be used to move forward with the growth plans for OC Communications Group (OCCGI), DealNet's recently acquired BPO subsidiary.

The money will also be used to launch One Dealer, a business designed to provide end-to-end customer management and financing services to the HVAC industry through a network of HVAC dealers.

The company’s business model allows for “sustainable and predictable revenue generation” through its BPO segment, according to Ubika Research analyst Vikas Ranjan, which has been leveraged to enter the North American HVAC financing and servicing market, as well as the water heater rental business. 

President of the company, Bob Cariglia, says that the company generated a lot of interest through its private placement, and he believes the debenture offering should be completed within a short time.

“It’s really going to provide the growth capital we need and it provides particular support to closing the Home Service Company acquisition previously announced,” he says.

Cariglia joined DealNet in February of this year, and officially assumed the role of president in September.

In May, the company acquired OCCGI - an "established player in the BPO industry, generating robust, recurring and predictable profits”, commented Ubika’s Ranjan in a recent research note.

"Our BPO business, primarily providing call-center services, is a great asset with a great pipeline,” adds Cariglia.

Cariglia, along with chief operating officer Michael Hilmer, have many years of experience in the BPO realm and have been able to use their connections with the HVAC industry to support dealers through DealNet’s BPO call-center business.

Historically, the BPO would bid against larger companies on call center outsourcing, credit management and underwriting facilitation, home services or back office outsourcing within the HVAC space.

The new strategy, One Dealer, means the BPO provides the end-to-end capability, including financing capital, providing for “terrific advantages in the space”, while enhancing the offerings of HVAC companies.  

“By taking a full service and market view of the HVAC industry, we can create significant ongoing demand on a recurring basis without having to suffer through the long sale cycles often found in outsourcing,” says Cariglia.

Likening the HVAC industry to a similar situation, where “big box” stores have all but wiped out the local hardware store market, Cariglia says smaller players in the HVAC industry have difficulty competing against “utility attached HVAC companies” that are able to attract low cost pricing and capital.

Once an HVAC dealer is attached to the One Dealer network, it will be able to attract more customers, close more deals and drive greater revenue and profit, therefore driving longevity and value into its company.

In fact, Cariglia says the marriage of the BPO call center and the HVAC industry has shown such progress that DealNet opened two new facilities – in Ft. Meyers, Florida and Reno, Nevada - to service large retail customers in the U.S.

“A U.S. presence is important in the outsourcing industry,” notes Cariglia.

“We are now well positioned to look after certain verticals and HVAC is the first one we’re going for as an in-house business.”  

Through One Dealer, DealNet plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

One Dealer is expected to help these dealers provide a better customer experience by leveraging fractional call center time through the BPO unit, and at the same time "authorize and encourage them to sell DealNet’s finance products and services”.

DealNet therefore plans to position itself between the dealers and the end customers, earning profit from both. One Dealer is slated to launch in first quarter 2013.

At the same time, Cariglia says DealNet will continue to look at other outsourcing opportunities.

“It’s a huge, growing market,” he explains.

“The outsourcing industry will continue to explode over the next 10 years.”

As part of the company’s growth, in September DealNet announced the planned acquisition of Atlanta-based Home Services Company (HSC), which provides HVAC after-market protection plans to homeowners in the greater Atlanta area. 

“It’s a really nice piece that gives us an in-house service offering and gives our dealers an additional product to sell,” says Cariglia.

The company recently renegotiated and revised the terms of the Atlanta acquisition, with the consideration at closing being $50,000 in common shares and deferred payments of $100,000 in stock due when HSC achieves certain customer targets. 

There will also be an earn-out cash payment of $7.50 per qualified customer, with the earn-out capped at a maximum of $140,000 over a period of two years.

With the addition of the Atlanta company, Cariglia says “all the pieces are coming together nicely” for DealNet.

The CEO emphasizes that financing and servicing HVAC equipment is a key aspect of DealNet’s success.

“Here in Ontario, approximately four million people actually rent their water heaters, with the lion's share of that market spread between less than five providers, meaning less competition for consumers, and more challenges for HVAC companies attempting to service this market,” Cariglia points out.

He adds that the interest rate on renting the units, along with the fact that most people finance their new buys, means there is a nice spread to be made in the business.

Furthermore, larger banks – which are in the business of financing - typically are hesitant with smaller dealers. Enter DealNet, which uses its expertise and existing relationships with smaller dealers to provide financing through a unique contract and consumer relationship structure.

Cariglia says financing this type of equipment is great, because it is tied to people’s homes.

“People will almost always pay their utilities first,” he explains, adding that this results in a low default rate among customers.

There is also the opportunity to grow the rental business in North America, says Cariglia.

“The rental business is more popular in Ontario than anywhere else, but there is interest outside the province. “We think it is a business model that would work really well in the U.S.”

Entering the heating and cooling financing business has given the company an opportunity to build a niche for itself as small dealers struggle to stay independent and welcome DealNet’s knowledge in the under-served market.

“And, this model fits in well within a number of verticals,” Cariglia says.

Looking ahead, Cariglia points out that the new Reno facility gives the company a definite “leg up” as far as expanding into the western U.S., and with the closing of the Home Services Company acquisition, Georgia will become a significant priority, with Ontario being a key launch market.

DealNet is also on track to strengthen its sales and customer services reach in the southern U.S., after it recently secured an early renewal and contract extension with a Texas-based utility provider.

Its BPO subsidiary, OCCGI, will continue to manage all aspects of sales and customer service for the Texas-based utility service provider, including account management, payments, escalations, acquisitions and retention. 

With the original contract set to expire in February 2013, the U.S. utility provider has contracted the BPO segment to deliver services over the next two years, running through November 2014. 

As DealNet heads into 2013, Cariglia says it is building an “exceptional and experienced management” team to help build the company out.

“We are well funded, have a healthy cash flow and there is great interest in our business model,” he concludes.

“In January, it is all about execution.

“The key for 2013 is launching our One Dealer offering suite, which is progressing very well, and then scaling into the massive dealer network.  

"With that scaling, we will see the fruits of those labours financially through late 2013 and into 2014, when the value of what we create in 2013 yields long term income.”

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Thu, 13 Dec 2012 14:50:00 -0500 http://www.proactiveinvestors.com/companies/news/91910/dealnet-poised-to-create-a-niche-in-an-underserved-market-38595.html
<![CDATA[News - DealNet Capital's BPO unit inks renewal with major Ontario Public Service Association ]]> http://www.proactiveinvestors.com/companies/news/91826/dealnet-capitals-bpo-unit-inks-renewal-with-major-ontario-public-service-association-38421.html

Toronto-based DealNet Capital Corp. (CNSX:DLS) (OTC:GAIMF) has said that its business process outsourcing (BPO) subsidiary, OC Communications Group (OCCGI), has secured an early renewal and contract extension with a "major Ontario Public Service Association". 

DealNet Capital is a merchant bank that has a flexible investment mandate with a strategic focus on recurring revenue businesses. It has recently focused its investments towards the North American BPO market as well as the consumer financing market by leveraging its recently acquired BPO division. 

The company's OCCGI has been servicing the Ontario Public Service Association's contact centre needs under a three year agreement, which was set to expire January 31, 2013. The contract has now been extended until June, and also allows the Association to exercise up to 19 months of additional contract extensions on top of the current award. 

"We are excited to announce that the consistent results provided by our BPO team in Toronto have culminated in this renewal and the opportunity to continue to further develop this business," said president of DealNet, Bob Cariglia. 

"Servicing the needs of such a highly visible and regulated client can be challenging, however, we have been extremely pleased with our working relationship with the client that has resulted in this early contract renewal."

OCCGI will provide all levels of support and issue resolutions for the Association's membership, monitored against the client's standards for quality, service and regulatory requirements. 

"Adhering to these requirements ensures the safety of its membership base that includes HVAC companies, Elevator Installation and Operations, Gas Handling and various other trade industries," DealNet said in a statement.

The company also said that OCCGI continues to "constantly discuss" opportunities with the client to expand its service and support to the membership base in an effort to improve the Association’s service offerings. 

DealNet's BPO segment is intended to provide a concrete base for the company to establish its One Dealer business in the North American HVAC and water heater financing industry, by providing customer care services and automation technology. 

Through One Dealer, DealNet plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

Just last week, DealNet said its BPO subsidiary inked a letter of intent to provide customer care services to National Home Improvement Installer Group.

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Mon, 10 Dec 2012 14:39:00 -0500 http://www.proactiveinvestors.com/companies/news/91826/dealnet-capitals-bpo-unit-inks-renewal-with-major-ontario-public-service-association-38421.html
<![CDATA[News - DealNet’s BPO unit to provide customer care to National Home Improvement Installer Group ]]> http://www.proactiveinvestors.com/companies/news/91807/dealnets-bpo-unit-to-provide-customer-care-to-national-home-improvement-installer-group-38404.html DealNet Capital Corp. (CNSX:DLS)(OTC:GAIMF) said its Business Process Outsourcing (BPO) subsidiary has inked a letter of intent to provide customer care services to National Home Improvement Installer Group.

Under the terms of the deal, the company’s BPO subsidiary, OC Communications Group Inc. (OCCGI), will provide design, consulting, implementation, onsite staffing and operational management for the group’s customer care facility. 

“We are pleased to announce another significant agreement by the BPO team in Toronto as part of their ongoing efforts to grow and develop this important aspect of the company’s portfolio,” said DealNet president Bob Cariglia. 

“This agreement, specifically in the home services space, lends further credence to our strengths in the market with profound depth in complex service and supplier management engagements.”

The company said that the letter of intent commits both parties to finalize a master services agreement and statement of work within the next 60 days. The duration of the ongoing agreements are expected to run for a three year period. 

DealNet said OCCGI will use a hybrid servicing model known as “on-demand service suite”, to structure outsourcing and co-sourcing programs to best suit the customer’s requirements. 

DealNet Capital is a merchant bank that has a flexible investment mandate with a strategic focus on recurring revenue businesses.

It has recently focused its investments towards the North American BPO market as well as the consumer financing market by leveraging its recently acquired BPO division. 

The company continues to look for acquisition opportunities in these markets.

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Mon, 10 Dec 2012 10:33:00 -0500 http://www.proactiveinvestors.com/companies/news/91807/dealnets-bpo-unit-to-provide-customer-care-to-national-home-improvement-installer-group-38404.html
<![CDATA[News - DealNet Capital revises terms for Home Services Company acquisition, deal expected to close in December ]]> http://www.proactiveinvestors.com/companies/news/91513/dealnet-capital-revises-terms-for-home-services-company-acquisition-deal-expected-to-close-in-december-37835.html

Toronto-based DealNet Capital Corp. (CNSX:DLS) (OTC:GAIMF) says it has renegotiated and revised the terms of its proposed acquisition of Atlanta-based Home Services Company (HSC), initially announced in September. 

HSC provides Heating Ventilation and Air Conditioning (HVAC) after-market protection plans to homeowners in the greater Atlanta area. 

Under the new terms, the consideration at closing will be $50,000 in common shares, with deferred payments of $100,000 in stock due when HSC achieves certain customer targets. 

There will also be an earn-out cash payment of $7.50 per qualified customer, with the earn-out capped at a maximum of $140,000 over a period of two years. 

Merchant banking company DealNet Capital, which was previously a company called GameCorp, continues to restructure its business from the gaming industry to heating ventilation and air conditioning (HVAC) financing and services, water heater rentals and the business process outsourcing (BPO) business.

The business model of the company has seen the establishment of a BPO segment for "sustainable and predictable revenue generation", which has been leveraged to enter the North American HVAC financing and servicing market, as well as the water heater rental business.

The BPO segment is intended to provide a concrete base for the company to establish its One Dealer business in the North American HVAC and water heater financing industry, by providing customer care services and automation technology. 

Through One Dealer, DealNet plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

"The acquisition of the HSC will strengthen the company’s position in the lucrative HVAC financing and services vertical as we look to expand our platform whilst leveraging the infrastructure provided by our thriving BPO division," said president of DealNet, Bob Cariglia. 

"Management felt it was in the best interests of the company and our shareholders to revise the terms of the transaction ensuring both parties are suitably aligned to execute on the business plan.” 

At closing, the company will also issue 1.0 million common share purchase warrants, with each warrant gold for the purchase of another share at a price of 25 cents for a period of three years. The warrants will vest based on HSC achieving certain customer targets.

The deal is expected to close around December 7, or later if there is any required regulatory approval. 

Just last week, Toronto-based DealNet said that its BPO subsidiary, OC Communications Group, secured an early renewal and contract extension with a utility provider in Texas. With the original contract set to expire in February 2013, the US utility provider has contracted the BPO segment to deliver services over the next two years, running through November 2014. 

DealNet said its BPO division has been servicing the needs of utility customers in the United States for more than six years, and has established "significant credibility in the highly competitive industry". 

OC Communications will continue to manage all aspects of sales and customer service for the Texas-based utility service provider, including account management, payments, escalations, acquisitions and retention. 

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Tue, 27 Nov 2012 14:57:00 -0500 http://www.proactiveinvestors.com/companies/news/91513/dealnet-capital-revises-terms-for-home-services-company-acquisition-deal-expected-to-close-in-december-37835.html
<![CDATA[News - DealNet Capital's BPO division lands renewal with Texas utility provider ]]> http://www.proactiveinvestors.com/companies/news/91464/dealnet-capitals-bpo-division-lands-renewal-with-texas-utility-provider-37772.html

Toronto-based DealNet Capital Corp. (CNSX:DLS) (OTC:GAIMF) has said that its recently acquired business process outsourcing (BPO) subsidiary, OC Communications Group, has secured an early renewal and contract extension with a utility provider in Texas. 

OC Communications said it will continue to manage all aspects of sales and customer service for the Texas-based utility service provider, including account management, payments, escalations, acquisitions and retention. 

With the original contract set to expire in February 2013, the US utility provider has contracted the BPO segment to deliver services over the next two years, running through November 2014. 

Services will be delivered out of the company’s headquarters in Toronto as well as the new facility in Reno, Nevada. 

Merchant banking company DealNet Capital, which was previously a company called GameCorp, continues to rebrand and restructure its business from the gaming industry to heating ventilation and air conditioning (HVAC) financing and services, water heater rentals and the business process outsourcing (BPO) business.

The business model of the company includes the establishment of a BPO segment for "sustainable and predictable revenue generation", which will then be leveraged to enter the North American HVAC financing and servicing market, as well as the water heater rental business, noted Ubika Research analyst Vikas Ranjan recently. 

DealNet said its BPO division has been servicing the needs of utility customers in the United States for more than six years, and has established "significant credibility in the highly competitive industry". 

The BPO segment is intended to provide a "concrete base" for the company to establish its One Dealer business in the North American HVAC and water heater financing industry, by providing customer care services and automation technology.

The company, through One Dealer, plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

One Dealer is expected to help these dealers reach  out to end customers through OC Communications, and at the same time "authorize and encourage them to sell Dealnet's finance products and services." The company plans to position itself between the dealers and the end customers, earning profit from both.

"We are pleased to announce the two year contract renewal and the opportunity to provide extended services out of our new Reno, Nevada location,” said president of DealNet, Bob Cariglia. 

“This renewal is a testament to the value we provide our customers and will serve to strengthen the BPO division and fuel the growth of DealNet Capital."

Earlier this month, DealNet announced a non-brokered offering of convertible unsecured debentures, raising up to $1.5 million in proceeds. The new funds will be used to implement management's business plan, which includes business development, corporate marketing initiatives, project specific infrastructure and general working capital purposes. 

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Mon, 26 Nov 2012 10:36:00 -0500 http://www.proactiveinvestors.com/companies/news/91464/dealnet-capitals-bpo-division-lands-renewal-with-texas-utility-provider-37772.html
<![CDATA[News - DealNet Capital announces convertible debenture financing for up to $1.5 mln ]]> http://www.proactiveinvestors.com/companies/news/91210/dealnet-capital-announces-convertible-debenture-financing-for-up-to-15-mln-37319.html

DealNet Capital Corp. (CNSX:DLS) announced today a non-brokered offering of convertible unsecured debentures, raising up to $1.5 million in proceeds. 

The company said the debentures will mature three years from their date of issuance, and bear interest at a rate of 12 per cent per year, which will be paid quarterly. 

The debentures will be able to be converted into common shares of DealNet, at a rate of 20 cents per share, any time prior to the earlier of the maturity date, or the redemption date. 

The new funds will be used to implement management's business plan, which includes business development, corporate marketing initiatives, project specific infrastructure and general working capital purposes. 

The company will have the right to redeem the debentures at a price equal to 100 per cent of their principal amount, plus any accrued and unpaid interest. 

Ubika Research started coverage on Dealnet recently, saying the merchant banking company, with investments in a diverse group of businesses, is "highly discounted with substantial upside potential."

DealNet Capital, which was previously a company called GameCorp, restructures its investee firms through management, administration, early funding and other types of support. It pulls together cash resources from the realization of previous investments, third-party debt, related party loans and private placements. 

The company continues to rebrand and restructure its business from the gaming industry to heating ventilation and air conditioning (HVAC) financing and services, water heater rentals and the business process outsourcing (BPO) business.

Ubika analyst Vikas Ranjan noted Dealnet's  strategic execution of its business plan. 

The business model of the company includes the establishment of a BPO segment for "sustainable and predictable revenue generation", which will then be leveraged to enter the North American HVAC financing and servicing market, as well as the water heater rental business. 

"The company has successfully established its BPO segment and is currently building capabilities in HVAC financing and servicing," Ranjan said in his note. 

In executing its business plan, in May of this year, Dealnet acquired OC Communications Group, a BPO, and integrated it under the brand OCCGI. 

The analyst noted that OCCGI is an "established player in the BPO industry, generating robust, recurring and predictable profits."

He added that the BPO segment will also provide a "concrete base" for the company to establish its One Dealer business in the North American HVAC and water heater financing industry, by providing customer care services and automation technology.

The company, through One Dealer, plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

One Dealer is expected to help these dealers reach  out to end customers through OCCGI, and at the same time "authorize and encourage them to sell Dealnet's finance products and services." The company plans to position itself between the dealers and the end customers, earning profit from both.

In September, DealNet also announced the planned acquisition of an Atlanta-based home services company. It said it continues to do its due diligence on the acquisition target, with both parties working together to close the deal. 

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Wed, 14 Nov 2012 14:14:00 -0500 http://www.proactiveinvestors.com/companies/news/91210/dealnet-capital-announces-convertible-debenture-financing-for-up-to-15-mln-37319.html
<![CDATA[News - DealNet Capital closes non-brokered financing, raises $625,000 ]]> http://www.proactiveinvestors.com/companies/news/91171/dealnet-capital-closes-non-brokered-financing-raises-625000-37258.html

DealNet Capital Corp. (CNSX: DLS) (OTC PINK: GAIMF) has closed a non-brokered private placement financing for $625,000 in proceeds. 

The financing consisted of 12.5 million shares at a price of 5 cents each. The total amount raised is higher than the $500,000 initially planned when it announced its intention in May. 

“We are very pleased to have this key capital raise completed as it has allowed management to prepare the company for significant growth in fiscal 2013,” said chairman and CEO, Graham Simmonds. 

“The fact that we were able to exceed our initial raise target is a clear indication of the confidence that investors have placed in our business plan and our management team."

The new funds will be used to move forward with the growth plans for OC Communications Group, DealNet's recently acquired business process outsourcing (BPO) subsidiary. The money will also be used to launch One Dealer, its strategy to provide customer support and financing services into the heating, ventilation and air conditioning industry. 

Ubika Research started coverage on Dealnet recently, saying the merchant banking company, with investments in a diverse group of businesses, is "highly discounted with substantial upside potential."

DealNet Capital, which was previously a company called GameCorp, restructures its investee firms through management, administration, early funding and other types of support. It pulls together cash resources from the realization of previous investments, third-party debt, related party loans and private placements. 

The company continues to rebrand and restructure its business from the gaming industry to heating ventilation and air conditioning (HVAC) financing and services, water heater rentals and the business process outsourcing (BPO) business.

Ubika analyst Vikas Ranjan notes Dealnet's  strategic execution of its business plan. 

The business model of the company includes the establishment of a BPO segment for "sustainable and predictable revenue generation", which will then be leveraged to enter the North American HVAC financing and servicing market, as well as the water heater rental business. 

"The company has successfully established its BPO segment and is currently building capabilities in HVAC financing and servicing," Ranjan says in his note. 

In executing its business plan, in May of this year, Dealnet acquired OC Communications Group, a BPO, and integrated it under the brand OCCGI. 

The analyst notes that OCCGI is an "established player in the BPO industry, generating robust, recurring and predictable profits."

He adds that the BPO segment will also provide a "concrete base" for the company to establish its One Dealer business in the North American HVAC and water heater financing industry, by providing customer care services and automation technology.

The company, through One Dealer, plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella. 

One Dealer is expected to help these dealers reach  out to end customers through OCCGI, and at the same time "authorize and encourage them to sell Dealnet's finance products and services." The company plans to position itself between the dealers and the end customers, earning profit from both.

In September, DealNet also announced the planned acquisition of an Atlanta-based home services company. It said it continues to do its due diligence on the acquisition target, with both parties working together to close the deal. 

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Tue, 13 Nov 2012 15:01:00 -0500 http://www.proactiveinvestors.com/companies/news/91171/dealnet-capital-closes-non-brokered-financing-raises-625000-37258.html