mCloud Technologies Corp (MCLD)

[DVP25]

Updated Investor Presentation:

One of the things that caught my eye with the updates is the fact that they added the "blended avg" rev/asset to the "Five-year Growth Horizon" slide. This highlights a point I made earlier, which is how in the world is this avg currently only $22/asset? If you start doing the math, the number of connected assets that need to be priced at near $0/mo to bring this number down to this level is really hard to believe. What exactly are these assets and will they ever be priced at std rates? To put this in perspective, they are using a $70 blended avg to project the 5-yr rev. If that was the current avg, then the Qtrly asset care revs would be almost $8M/Qtr higher! This is the biggest mystery in the mCloud rev story and one I think the co needs to address.

Also, if you just added McDonald's to your customer list, why would you not add them to the customer logo slide?