Vaso Corporation (VASO)

[OBrien]

Obviously not a good Q1 but I am still very bullish on VASO at these prices. IT VAR backlog continues to grow now at $8.3Mil and deferred rev of Professional Sales is $2Mil Higher YOY at $19Mil..

Our monthly recurring revenue in our managed network services operations continues to grow month over month as we add new customers and expand our services to existing customers. The backlog of orders in our IT VAR operations was $8.3 million at March 31, 2017 compared to a backlog of $3.5 million at March 31, 2016. We anticipate that as we continue to develop the IT VAR operations and become fully enabled in all phases of the sales and service delivery process, the backlog will go to revenue in more timely fashion and profitability will be significantly improved in this segment.