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TickBomb: Good point. The stock is priced as if it was going bankrupt. Because last December when they could not meet payroll for 4-6 weeks means they were cash bankrupt. A person who's wife worked there started a new account to share that info. Similar to you starting a new account to share your comments. I believe both of you, no reason not to. Prime
Thank you for the correction. Ouch!!
It will be short lived, DVP. Only 66,000 shares traded over $1.00 for about $75k in the US. $75k on shares today vs. the new total of $24M raised in the past 5 months. Prime
DVP: Your comments are spot on.
I was able to hit my predictions of a small increase in revenue, inability to cut costs, and the warrant that started the downfall of the stock price.
Remember continually telling us they "pulled revenue forward"? So Q1 sales were probably about the same as Q4. G & A was up about $190,000 for the quarter. Sales expenses were down $1.3M because they didn't travel, so Russ still spent more on recurring costs. He didn't cut anything.
All IMO. Prime
Hank:
I do not think they are frauds. They have $27M in revenue, noteworthy customers, and were able to raise over $22M in the past 5 months. It all boils down to Russ's operating competence/incompetence.
Should we each have bought 100,000 shares prior to this call?
No, not for a small revenue increase, an inability to cut costs, and no regard for current shareholders with the free warrant.
All IMO. Prime
DVP. Agreed, either way it is bad. I lean towards incompetence on Russ's part. As we discussed, Q4 wasn't even close to what he promised. IMO. Prime
Hank: No, I cannot share the source with you. As I stated, (again, see my posts) I was PM'd with the information after I posted thoughts on where the $80M had come from. The message said I was right and I could post it.
I also stated I have no problem with anyone helping fund any company, as long as it is legal. Many people have had problems with the SEC. Who am I to judge? I am nobody. All IMO. Prime
Tick: No offense taken. If my post was read, it outlines what I did, and why I was looking for any information I could find on funding (a few of us were wondering the same thing). Also, there was NO speculation or assumption Wayne was doing anything bad for mCloud, as he seems to have a good reputation. I stated facts, and provided links, and then reminded everyone the net has a lot of bad information on it. Prime
TimeB. Agreed, but investors should be able to ask questions via email to the IR person, and have them answered during the call. This is done with many companies, especially those wanting to include/educate their investors. All IMO. Prime
Quarterly call tomorrow and I would like to know how to submit a question. Emailed mCloud at ir@mcloudcorp.com on Friday, and no reply.
Called mCloud today at 888-420-1781. If you don't have an person or extension, you can only leave a message in a general mailbox. No live body to answer the phone in a company with 300 employees. Management $ucks. All IMO. Prime
Hank: Please refer to Posts 1134 and 1150. Prime
A live audio webcast of the conference call will be available at https://bit.ly/33Ai1vV. Please connect at least 15 minutes prior to the conference call.
Hi, Hank. Post 1201. Some of us wondered who could continue to raise money with the doors ready to close last winter, who the large investors were, and if they were upset with Russ and his ($80,000,000) plus loss carry forward, and if the $8.6M offering was closed and included warrants. Prime
Hopefully we will get some positive information and they will also answer the detailed questions you folks have posted!
CALGARY, AB, May 12, 2021 /CNW/ - mCloud Technologies Corp. today announced that it will report its earnings for the first quarter 2021 before the market opens on Wednesday, May 26, 2021. The Company will also host a conference call to discuss the financial results for the first quarter at 10:00 a.m. ET the same day. To access the conference call by telephone, dial 647-427-7450 or 1-888-231-8191.
DVP: Understood. I don't think it's an "issue" for Caserta to raise money with friends/family/others and have it sent directly to the company, as long as he doesn't receive a fee for services. People will do almost anything when payroll is 5 or 6 weeks late with no money in sight. All IMO. Enjoy your weekend! Prime
Tickbomb: If you have a point to make with me, please do it openly. As I've said, this is a great board where everyone is very nice, and direct. Prime
DVP: Good points. I hope the sellers are out of stock, but do not know.
Looks to me the selling started with the announcement of the $14M financing. Over 2M shares in the US, and about 5M on the TSX. Every day has been down, less a couple of days where MCLDF was up only 2 or 3 cents.
Clearly the market did not like Russ's deal. All IMO. Prime
DVP: I tried to answer both questions in my post. First I received a PM with the info from an unhappy person that should be in the know. I would NOT post it if I did not believe them. Second, the companies statement on 3-26-2021 stated it was the "final tranche". Hope that helps.
All IMO, Prime
Change my mind.
I think MCLDF investors could be in a bad place for the next year. Why, because Russ has all the money he needs for the next year plus, so there will be no pressure on him to break any growth or profitability records. To date, no one has been able to keep Russ in line. He couldn't even raise his own money to meet the missing payrolls at the end of 2020. I got a PM with an ok to post this, as I hit a nerve with an earlier post. (He has pissed people off, so try to prove me wrong.)
Caserta and Andrews led the companies December 2020 Private Placement with the final tranche on March 26, 2021 for $8.761M. Only 13 days later, on 4/8/2021, Russ announces an "overnight marketed offering with ATB Capital Markets Inc as the Agent" and closed it, as proposed, 7 days later. (I cannot find anything saying the $8.7M was grandfathered to get warrants.) These were clearly 2 different deals, and Russ had this ready to close right after the PP.
Russ does what he wants, even kicking Caserta in the ball$ just a couple of months after Caserta pulled Russ out of his burning house.
All IMO. Prime
Rod: To clarify, I agree with your last line, and I am a below average trader, but have won numerous times investing in companies where the Chairman/CEO or CFO have had winning track records.
That's why I got out of MCLDF after losing $25k, and won't buy back in until Russ gets someone that can keep him in line.
Prime
Rod, I agree. Prime
"I am a marginally competent trader but I do see major red flags. If these abate I will buy right back in. I am a believer in the company but not the people running it."
Tickbomb:
Thanks for your background. Just the kind of technical and business input we can use here.
I believe Rod asked if anyone knew where Russ had a success, as he did not know of any, so he's asking for help, not being unfair.
All IMO. Prime
Hank:
Thank you! Always appreciate your input and candor.
Your numbers look sound to me.
Prime
DVP: The under $1 dumping doesn't make sense. Someone really wants out before next weeks filing. And why is mCloud filing late, again? Late filing is very concerning especially with all of the sub $1 selling during this week delay.
The CFO/Chantal should be canned with her inability to meet a deadline, unless there is something we do not know. Makes me wonder if Russ is still allowing her to work for two different companies. All IMO. Prime
fyi....I'll be calling in.
CALGARY, AB, May 12, 2021 /CNW/ - mCloud Technologies Corp. today announced that it will report its earnings for the first quarter 2021 before the market opens on Wednesday, May 26, 2021. The Company will also host a conference call to discuss the financial results for the first quarter at 10:00 a.m. ET the same day. To access the conference call by telephone, dial 647-427-7450 or 1-888-231-8191.
Hank:
$5B with 64m shares out would be about $78/share, right? Good job getting in 62 cents, though wondering what $200m in revenue would be like seems pretty long term, considering that is 8X on 2020. How many years do you think it will take to get to that point?
Appreciate your input. Prime
Full year 2020 AssetCare™? revenues were C$20.5 million compared to C$8.9 million in full year 2019, up 130% year-over-year
Full year 2020 revenues were C$26.9 million compared to full year 2019 revenues of C$18.3 million, up 47% year-over-year with 2020 gross margins of 62% compared to 2019 gross margins of 59%.
Total connected assets were 59,462 at year-end 2020 compared to 41,088 at year-end 2019, up 45% year-over-year
Tickbomb:
Yes, I was referencing the debt/old money as being expensive. The bank line is much less expensive, especially compared to the last raise with the warrant rider.
It's easy to get a line against on hand cash, so stating it was a big deal is an overstatement. All IMO.
Prime
DVP: Thanks for the link, hadn't seen that. "Funds from the line will be used to repay an existing creditor and for working capital."
Which one? Must have been expensive money.
#2 on the greatest hits. Now that's funny.
Prime
DVP:
Your note on DRIO is interesting, up 400% in a year.
May I ask if you are in it? It was at $6 for a number of months with a spike on 7-31-2020 up to $20, then down to $10, then up to $30 and now at $14. Might be a good spot to get in.
(Sorry, I know we are only supposed to discuss MCLD on this board.)
Thank you, Prime
DVP: NO issues here at all. As I've mentioned, I really like yours, Rod's and Hank's posts. We all have experienced turds on other message boards. Prime
DVP: My misunderstanding, I thought you meant the Board of Directors, not this board. Your post #1138. "You've created the impression that Andrews was implicated in that mess and at least one person on the board has already bought it." Prime
Welcome Tickbomb. Looks like you created an account just to post here with numerous incites. I don't care if you are close to the company, as information on this/any company is good to get and it's up to us to do our DD.
Too bad EGOS have gotten in the way as I would buy a significant amount if they brought in a clean up man for operations help. Invest Alberta is not that person. All IMO. Prime
DVP: Thanks for the kind response. :)
Andrews website listed they work for MCLD and DRIO. I clicked on the Investors Hub link to DRIO and was surprised when I saw this. Don't know anything about that company, but someone was not happy
https://investorshub.advfn.com/boards/board.aspx?board_id=26404
My first Andrews click on Bing showed the Caserta guy listed with his picture as the first contact for Andrews. Made me interested, but we all know about the trash on the net.
Please update me on the board person comment as I like how you always dig deep. Also, someone said they had talked with Andrews. Can you ask if InterOil people have invested in MCLD? Thanks, Prime
DVP: Really good questions, especially the throwing in the towel, is this small potatoes? Follow the money.
Might be worth your time to look below......what are we in the middle of?
MCLD Press Release 9/8/2020. RCA will provide investor relations services to the Company, with Wayne Andrews of RCA acting as the authorized individual on behalf of the Company.
List two companies they work with. MCLDF and DRIO.
https://www.rcafinancialpartners.com/
https://www.linkedin.com/in/waynewandrews
Andrews, Bing search. "InterOil" where he was Vice President, Capital Markets and Investor Relations.
His first contact named is a Carl Caserta.
Caserta highlights this on LinkedIn...."The high profile successes with my involvement have been American Oil & Gas (AEZ) and InterOil (IOC)."
Caserta. Barred by the SEC?
https://seekingalpha.com/article/146390-interoil-offers-misleading-information-about-questionable-employees-to-investors
Caserta. Banned stock promotor?
https://whitecollarfraud.blogspot.com/2009/07/banned-stock-promoter-carl-caserta.html
Money red flag..InterOil? (via Andrews and Caserta)
CEO Mulacek at $66,000,000 and the banker is a Carlo Civelli at Clarion Finanz AG at $900,000,000.
Illegal Schemes?
https://whitecollarfraud.blogspot.com/2010/03/is-interoil-built-on-foundation-of.html
https://www.prnewswire.com/news-releases/interoil-responds-to-mulacek-board-nominees-300269801.html
Fraud and Carlo Civelli?
https://whitecollarfraud.blogspot.com/2009/07/interoil-john-thomas-financial-and.html
https://www.streetwisereports.com/pub/htdocs/expert.html?id=11558
Mulacek's brother and Civelli in lawsuits.
https://www.supremecourt.gov.sg/docs/default-source/module-document/judgement/190814-civelli-v-mulacek-judgment_final-(v2)-pdf.pdf
https://cases.justia.com/federal/district-courts/texas/txsdce/4:2017cv03739/1471307/32/0.pdf?ts=1530103663
Reaching? Just info on the net. All IMO. Prime
78:
Yes! Keep your "gloves up" to protect yourself when dealing with these Vancouver companies.
Prime
DVP:
Didn't Russ state the losses from Q3 to Q4 in 2021, were going to be significantly reduced without the "acquisition costs" in Q4.
That did not happen. Russ has no idea how to cut costs or operate within a reasonable budget. All IMO.
Prime
DVP:
You are spot on, again. "ESG report" and "trying to hold everything together" sounds like the person is drowning.
I could say Russ doesn't have a clue, but after your post, it would be more accurate to say Russ is a moron. All in IMO. Prime
Rod:
We've all used rose colored glasses. :) I appreciated your heads up on Russ's disastrous track record, thank you.
Yes, once a bad CEO...hard to change because he's not been trained. Russ's team would not know how to find a fixer. What they've done is a band aid.
I'm still a buyer, but pay a known person to come in. Do it stealth and let this team get the glory. You would think someone down $10 million on MCLD would be paying attention. All IMO. Prime
DVP: I understand, but many money guys are killers and are probably already out, that is why you cannot have Russ dealing with bankers and running operations. For years I've seen selling at a small loss with bankers riding warrants.
More importantly, where is this stock headed? When it was around $1.90, some had a good laugh at my $1.50, then my $1.30 buy-in. Then I said it might test new 52 week lows as it did today.
I have shown there are experienced people, who are not afraid to get their hands dirty that can assist Russ and make this go. Big company/title people delegate, that is why they do not succeed at small companies. Bring in the right help, and they will have investors and the stock will rise. All IMO. Prime
DVP. All of the stock that has been, and will be issued from the money raised over the past six months. They cannot trade those shares until they are issued. See my note.
Good luck, Prime
Rod:
Just reviewed your post. Agreed, just more of the same. Russ adds another "President" and does NOT cut anyone from their payroll. IMO, Russ has no idea on how to run a company, especially on a budget, and will continue to raise money until someone cuts him off.
Prime