(Update 3/9/19): Biggest News Yet (and this is only one of their subsidiaries!!):
Dalrada Financial Corp. Subsidiary Receives Purchase Orders, Forecasts Exceeding $2 Million From First Major Client
SAN DIEGO, March 6, 2019 /PRNewswire/ -- Dalrada Financial Corp. (OTC Pink: DFCO) Dalrada's wholly owned subsidiary Dalrada Precision has succeeded in receiving further purchase orders and forecasts exceeding $2 million for components from its first major client.
Additionally, the company is in final negotiations and qualification processes with five additional multinational companies. If successful, the sales backlog would exceed $10 million in fiscal year 2019.
Dalrada Precision CEO David Pickett said, "Progress is exceeding our expectations with our sourcing strategy, and we are continuing to seek strategic partners to further enhance our Internal Strategies. While actual sales revenues may not generate the total sales backlog we are confident that our run rate will match our forecast."
Dalrada Financial Corp. became pink sheet current in early 2018 and got caught up on all of their deliquent SEC filings. Their CEO is Mr. Brian Bonar who was previously CEO over at Trucept Inc. ($TREP) until early 2017. https://seekingalpha.com/news/3246691-trucept-names-norman-tipton-ceo
Bonar's Linkedin profile: https://www.linkedin.com/in/brian-bonar-a123136
Bonar also has made a big name for himself in the restaurant business and I've found countless articles singing his praise in that avenue. https://www.google.com/search?safe=off&client=firefox-b-1&biw=1390&bih=634&ei=aVr_W6LRMKG7jwSxio3wAg&q=brian+bonar++restaurants&oq=brian+bonar++restaurants&gs_l=psy-ab.3...18729.18729..19125...0.0..0.66.66.1......0....1..gws-wiz.nWwhjS-w_8M
Now that Bonar has retired as CEO of Trucept, I think he's finally giving his attention to his once pet project over here. He's technically been CEO of Dalrada for nearly 20 years however I get the impression they went dark a while ago and it's sat on the back burner for years. Something is up though, now that Bonar has time on his hands. The move to get the company current was the first sign of something brewing here and that's not a move a company would make for no reason. I guaranty you that all the fees to get current after years of not filing were not cheap.
The share structure here is absolutely pristine. The O/S is 47.3 million and the float is 38.8 million, with Bonar owning 5 million shares himself. You can reference the filings going back years and you'll see the o/s or float haven't changed a bit.
The most recent press release spelled out what sort of imminent upside the company is looking at.
Dalrada Precision Inks $100K in Purchase Orders
LAS VEGAS, Nov. 2, 2018
LAS VEGAS, Nov. 2, 2018 /PRNewswire/ -- A new subsidiary of Dalrada Financial Corp. (OCTBB: DFCO) has won new business from a leading semicon equipment manufacturer. A provider of mechanical parts, Dalrada Precision has received initial purchase orders valued at $100 thousand. Revenues will be reflected in the first quarter of 2019. The projection for these purchase orders is to reach approximately $2 million in value during 2019.
David Pickett, Dalrada Precision president, said that in 2019 the company expects additional revenues of an additional $8 million to be placed with the company.
"Creating the right foundation and support for our customers is a key component of the strategy for growth for 2019 and 2020," Pickett said.
So according to that last PR the company is anticipating revenues of upwards of $10 million in 2019, and keep in mind who is making that claim. Of course any OTC CEO or president can and does make outlandish claims which often prove to be smoke being blown up our tail pipes, but Mr. Pickett is not your typical OTC president. His status as COO over at Nlight, which is essentially 1,000 DFCO's wrapped into one if comparing current market caps, adds a level of credibility rarely seen in the OTC world. When a guy with that sort of clout makes those sorts of statements and is on board with a tiny fledgling OTC company like this, I listen.
Between the company getting current, the management on board and the story being spelled out via their press releases, there's a lot going on here on the surface. The proof though is in the pudding, or in this case in the chart. With that much going on, you would suspect that smart money has been loading the boat. Right? If that were the case, the chart should reflect that sort of subtle underlying strength and should indicate accumulation has been taking place. Right? Well that's exactly what you'll see if you look at a 10 year chart for $DFCO.
The company going current in early 2018 sparked a huge rally which broke the price out of a 9 year trading range. Since then the stock has consolidated with textbook perfection above that old trading range. Now the stock has been building a new base above the old one and is only a modest move away from breaking it's current resistance in the upper .02s and from there it's on to a new 10 year high breakout. The beauty of this chart is that it's strong and bullish as it gets, yet in OTC terms it really hasn't even ran much yet. It had that one big spike and has since cooled off and settled down with nearly a year of consolidation. The big boys cleared out all of the shares under .01 a long time ago and now they're nearly finished taking all of the sub .02s as well. My opinion is that this chart below shows that the vast majority of the float is locked down and if you watch it trade and follow the L2s it will only confirm that theory. http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=dfco&x=43&y=12&time=13&startdate=1%2F4%2F1999&enddate=12%2F16%2F2013&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=50&uf=0&lf=1&lf2=0&lf3=0&type=4&style=350&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=15