Tuesday, May 18, 2021 5:19:37 PM
Anything Material is required to be recorded in the filing...
Exactly!
Now let’s look at 3 things:
- Revenues: Work completed that is no longer part of the backlog.
- Bookings: New orders added to the backlog.
- Backlog: Roughly the difference between revenues and bookings.
Over the last year their revenues have been relatively flat, they’re pumping out the same amount of work day in and day out, but suddenly their bookings are increasing and exploding their backlog.
That’s why they’re adding a second shift, and that why he’s saying “the fruits of our labor are starting to show up in our backlog in a material way.”
He can’t tell us where the money is coming from, but he’s holding a giant neon and blinking sign that says, “LOOK AT ALL THIS MONEY COMING IN FOOL!”
If Q2 shows the backlog increase by millions (again) instead of thousands, and in spite of increased revenues from the addition of a second shift that should be decreasing the backlog, it will be undeniable that they are neck deep in massive contract work that they just can’t talk about.
—————————
Mar 2021 Backlog - $16.1M +$1.5M
Mar 2021 Booking - $7.4M
Mar 2021 Revenue - $4.4M
Dec 2020 Backlog - $14.6M +$0.2M
Dec 2020 Booking - $5.5M
Dec 2020 Revenue - $6.5M
Sep 2020 Backlog - $14.4M +$0.1M
Sep 2020 Booking - $6.5M
Sep 2020 Revenue - $6.4M
Jun 2020 Backlog - $14.3M +$3.0M
Jun 2020 Booking - $5.9M
Jun 2020 Revenue - $2.7M
Mar 2020 Backlog - $11.3M
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