Friday, August 25, 2017 10:37:20 AM
"Since we implemented our new sales and marketing strategy, we have been awarded a number of new contracts which we’ve begun implementing. Part of our key sales strategy is to increase the direct services portion of revenue to a level that brings the Company to profitability on recurring revenue alone, based on our current business model that requires Lattice to add an additional 2,700 inmates to our current platform. Based on revenue and gross margin projections, this brings the Company to EBITDA breakeven on recurring revenue alone. Adding in our technology revenue would bring the Company to profitability"
What went wrong? only direct service to 2,700 inmates needed?
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