BluMetric is a Canadian company that provides cost-effective and sustainable solutions to help its clients overcome even the most difficult environmental and business challenges. Through a track record that spans 40 years, the Company has evolved into a full-service integrator of environmental solutions known for innovative work in the fields of water/wastewater treatment and professional environmental services.

BluMetric offers a wide range of Professional Services, including:

Blumetric focus on four key markets

-Mining-

The Mining market increased $900,000 year-to-date in Q2 2021 overQ2 2020 as new projects commenced and activity resumed on some projects that had been stalled due to COVID. Revenues amount to a total of 1,404,862$

-Commercial and Industrial-

The Commercial and Industrial market increased $1.3 million in Q2 2021 compared to the prior year. Revenues amount to a total of 3,156,071$

-Government-

The Government market increased $1.1 million in Q2 2021 over Q2 2020. This was due primarily to the provision of COVID cleaning supplies for schools in communities throughout Nunavut. This demonstrates BluMetric’s agility and ability to meet unique client demands, while facing the demands and restrictions imposed by COVID

-Military-

The Military market increased $1.3 million in Q2 2021 compared to the prior year mainly due to increased activity on the Company’s multi-year shipboard reverse osmosis desalination (SROD) contract, which contributed $1.2 million towards the increase

I'd like to point this from the last MD&A:

"The Company experiences variability in its results of operations from quarter to quarter due to the nature of the markets and geographies in which it operates. Typically, in the second quarter, the Company experiences slowdowns related to winter weather conditions and holiday schedules. Activity in the fourth quarter generally increases as a result of projects in the North that run in the summer season."

Q3 2021 highlights

Revenue for the quarter ended June 30, 2021 increased to $8.5 million from $6.9 million for the quarter ended June 30, 2020. Revenue for the nine months ended June 30, 2021 was $25.8 million compared to $18.2 million for the nine months ended June 30, 2020.
Gross margin increased to 26% for the quarter and 27% for fiscal 2021 year to date, compared to 20% for the same quarter in the previous year and 18% for fiscal 2020 year to date.
Adjusted EBITDA (see Note 1 for definition) for Q3 2021 increased to $1.3 million from $1.2 million in Q3 2020 and increased to $4.1 million for year to date Q3 2021 compared to $862,000 for year to date Q3 2020.
Net cash at June 30, 2021 was $1.6 million, a $2.4 million improvement from net debt of $809,000 at June 30, 2020.

Products

BluMetric has the following water treatment solutions that have been developed from decades of military, water and wastewater treatment experience:

SCDU - Shipboard Chlorine Dosing Unit
SUVU - Shipboard Ultraviolet Unit
SBWTU - Shipboard Ballast Water Treatment Unit
BWMS - Ballast Water Management System
SOWS - Shipboard Oily Water Separator
SWMS - Solids Waste Management System
SWWTP - Shipboard Wastewater Treatment Plant
SBDU - Shipboard Bromine Dosing Unit
SROD - Shipboard Reverse Osmosis Desalinator
ROWPU - Reverse Osmosis Water Purification Unit
- ROWPU 90 Day Deployment Kit
PWPS - Portable Water Purification System
MWWTP - Mobile Wastewater Treatment Plant
SWHS - Solids Waste Handling System (shipboard, land, remote, and arctic)
SERD - Shipboard Energy Recovery Device For Desalinators
- Increases your existing Desalination plant efficiency by 50%
BROWR - BluMetric Reverse Osmosis Water Remineralizer

Burlap's 2 minutes DDs

Last quarters was record-breaking and this happened during what is usually the slowest months of the year (winter), Year-end Earnings for 2021 should see significant growth if they keep this trajectory.
Could be considered undervalued for a venture company since market cap is trading under the revenues per year, Margins have improved from 17% to 28% YOY and their are currently profitable.
Good relationship with the Canadian military, signed numerous deal in the past, currently benefiting $1.2m from a SROD contract in Q2 2021.
Small float of 28M shares, with minimal dilution over the last five years.
Should benefit from the current environment for battery metals miners:

the Company has expanded its standard product Portable Water Purification System and a Mobile Wastewater Treatment Plant. Both these solutions are highly flexible and cost efficient and allow for rapid deployments for temporary needs, such as temporary exploration and mining camps

Additionally, the Company still sees demand for solutions that reduce the ammonia concentration in wastewater due to stricter effluent limits for the mining, landfill, and industrial markets. BluMetric’s ammonia removal process, MARS, has been used in several full-scale treatment systems for mining and landfill customers.
Postive cashflow, minimal debts, Profitable.

Mismanaged as a public company due to weak communications, lack of interest to promote the company to investors, poor strategies to attract retail and institutional investors interest.
Competitive market, could see setbacks due to discrepancy in R&D financing compared to more established players.
Cost of sale is high. Currently gross profit is at 28%
Several contracts with the Canadian military should be ending this year of the next.
Shareholders on social media platforms will agree with the affirmation that holding BLM.V is a frustrating effort if you follow day to day price action.