CEA Industries Inc. (CEAD)

[iamga]

So... basically more of the same.

1) Margins are improving, but their revenue growth is non-existent for years now. Not awesome. They will be raising/borrowing before the end of the year.

2) Doucet's RSU's are still being litigated, though the number is 6.75M now. He also got 1M more shares for canceling some RSU's? Jesus.

3) The directors are taking comp at something like 1M shares a quarter. Presumably they are filing their forms 4 appropriately, but I don't recall seeing them.

4) Margin growth appears to be derived perhaps in large part from reduced comp to its sales team in commissions. Not sure if this is good or bad... they need sales more than they need to increase margins, I think.

5) Re-adopting the company's initial strategy of growth through acquisition. Good luck with no cash and share price at a nickel. Better than nothing though, I guess.

6) Laughable enthusiasm for shiny new graphic that explains their "organic" growth model. How is this different other than that it's got pretty colors now? Admittedly, I only skimmed it, but it seemed to describe their model for the last few years at least.

7) Noticed their press release uses the old logo without that weird green tagline that makes sense but is pretty garish.