Received an email back from Mr. Gurba
We exchanged a few emails back and forth and I believe he reads this board, although did not say.
He seems to share our frustration and is concerned about everything discussed here on the board. Here are some main points that I think are important for us to know as investors in this company:
1) lack of PR and communication: He seems very concerned about hyping the stock with un-necessary PR and tries to give out constructive news instead within regulation guidelines
2) The Q was released with a "management discussion" page which outlines all we would want to hear in a PR or a conference call (I encourage everyone to read it) It answers many questions
3) from the management discussion and forward looking statement: The reason for the decline in revenue and increase in expense: lower competitive pricing to attract new customers
Please below:
Revenue for continuing operations for the three months ended June 30, 2017 of $6,347,699 is a decrease of $454,752 when compared to the revenue for the three months ended June 30, 2016 of $6,802,451.
Cost of revenues for continuing operations for the three months ended June 30, 2017 of $5,065,152 is an increase of $477,786 when compared to the cost of revenues for the three months ended June 30, 2016 of $4,587,366, and is primarily due to smaller margins associated with an expansion of the customer base, and consists of the tractor, trailer and driver expenses associated with the transportation services.
Gross profit for continuing operations for the three months ended June 30, 2017 of $1,282,547 is a decrease of $932,538 when compared to the gross profit for the three months ended June 30, 2016 of $2,215,085 for the reasons referred to above.
4) Debt reduction:
The Company is actively negotiating significant discounts on debt through an exchange of debt for both preferred A and B shares as well as negotiated settlements for early payoffs resulting in significant debt reductions and future interest savings. While its current lenders continue to support the progress of the Company, the Company is exploring consolidation of its debt.
Management’s goal is to discontinue or sell all business units other than the transportation group by year-end, thereby significantly reducing cost and reducing debt. This will not only reduce costs, but it will allow management to focus exclusively on building the transportation sector.
Expansion:
Along with, and similar to its recent acquisition of Big Red, the Company intends to continue to pursue additional acquisitions that add strategic synergies for its current hubs and customer base. The Company is also exploring strategic locations in the Northeast for its cold storage facility of approximately 150,000 square feet. These actions along with acquisitions made will allow for significant growth of sales and a return to profitability.
Management remains confident in its position in the transportation sector and believes we will continue to gain market share due to its recent acquisitions.
It seems that he is doing everything he can
Holding BTGI and if this dips I may add a few million more shares
