Sphere 3D Corp (ANY)

[FrankyNutzz]

Roth Report

I have reviewed both the Roth report and the Cormark Report.

There are couple of things that concern me. I was hoping for a much higher target from Roth given the report came out post Microsoft event and they could have understand the prospects.

1) The estimated Q2 numbers in report show a decrease from Q1 . I thougth the momentum in GW revenue would increase. Q1 was $20.1 and Q2 is expected to be $18.5m.

2) The Q4 number is only $29.7 million. This is not consistent with EK run rate of $160m exiting 2015. This would imply a run rate of only $120 m.

Also Roth numbers are significantly lower than Cormark numbers that came out only a week ago.