This is from Feb:
"Bill just said that’s a bad example. He is right, it is. With regards to backlog, our approximate backlog at the end of December was about $3 million. You can see the orders that we booked so far this quarter. We’ve talked a little bit about them. They're well over $3 million right now. Some of those have shipped, but our backlog total is a number that’s in excess of $5 million. And if you ask me to range it, I would say $5 million to $6.5 million at this point."
Also:
"I believe we are above what we’re projecting for those other sales at this point. And certainly the last three months has helped when we booked over $5 million, but that $5 million were on deals that we start going after on December 1st. Those were deals we started going after last March, April and May. And you’re just starting to see that fruition of the sales efforts. And we’re not stopping with that, our pipeline today is bigger than it's ever been."
If you factor in sales since then, we have extinguished the backlog, maybe, but what happened to the pipeline? We know that a lot of the bigger sales were due to TSA qualification (Europe and Korea), so maybe we haven't killed the backlog? If not, why is that the case?
It's not a crime to admit that the company is responsible for inflated expectations. Our point is that they need to tone it down, though it may be too late for that.
