well, all sorts of numerical shards...
before we get to fy4q and fy2019 numbers, a comment on the number that most posts bullseyed ... 4,000,000.
clearly, mills' 4 mill was not traded on the open market, otherwise the stock would have dropped under a dime. unlikely 4mil shares total traded the entire 4q.
however, if this stock is to escape the pink sheets, there will have to be a whole lot more transparency regarding what new bucket / trust / whatever was the recipient of those transferred shares.
but hey, as long as the fins remain unaudited, who cares...
one improvement in disclosure statement - part 3 issuance history is much better and more transparent than it used to be
earily, the stock traded unbriskly on the news, turning over ~$83 worth of stock (250 shs) thursday helped by a ballpark 8 cent spread through which you could pilot a super max oil tanker.
meanwhile, back to the two fyjune2019 filings.
surprise #1, they were released exactly 45 days after the fiscal year end, not the typical 90 as has been past history.
fy4q revs $602,526 - 70% less than the $2mil suggested on this board recently, but still up 576% yr-yr, and up 66% qtr-qtr.
fy2019 revs $1,168,216 up 162%, while gm% shrunk to 19% from 77% and 59% the previous two fy's.
4q gm% 8% after 7% in 3q. is this the new norm?
net cash used in operations ~$550k, better on the surface than the $1.11mm hemorrhaged during fy2018, but these numbers are fuzzier than a foggy moon thanks to various investments, contributed capital, and stock-based compensation entries
share count 69.86mm up 2.9% yr-yr. not out of line historically
nol's still hovering around $24.6mm. hope none of them expire soon, just in case lightning strikes (revs and gm% go vertical).
for whatever reasons, rent expense has dropped each of the past four fiscal years.
inventories remained mysteriously flat qtr-qtr after hardly moving the previous quarter.
tangible equity continues to nap in the red as negative operating cash flow is offset with incremental paid-in capital. the only major deviation in the last three years was that hideous igambit stock deal transaction. rarely have i seen book entry written down faster.
with one caveat, valuation still silly on almost all standard metrics - as are many stocks in the current environment (see beyond meat, for one). only being acquired at a steep premium to intrinsic value rescues mills and his minions
