I have looked into the drop in subscribers for Speed Connect. What I found out is that Speed Connect was maintaining a number of towers in areas where there were not only very few subscribers but, also, a very small total population. So, even if they could get the entire population to subscribe, there would still not be enough revenue to continue to support those towers. Speed Connect has cut off those towers and subscribers (unfortunately for them) and are expanding and upgrading in other rural areas where they can increase the number of subscribers to 30,000 and do so profitably. They are also working on getting grants to help subsidize in areas where it could not be done profitably without government support.
Other positives:
After being mostly closed during the pandemic, Blue Collar is definitely back in business. They are currently working on three documentaries and are doing work for Netflix, Paramount and several other major studios.
The much talked about lawsuit is still not settled. However, even if it doesn't go in TPTW's favor, the maximum amount TPTW would expect to pay has already been accounted for in the financial statements. If the outcome is settled favorably, as they expect, that amount will be a positive in a future financial statement.
Testing is still expanding in the Caribbean beyond Jamaica. Jamaica requires every visitor to be tested. Someone mentioned that they had co-workers who traveled to Jamaica and the testing was not done by TPTW. If you go back and read the PR's, you will see that the testing sites would not be branded as TPT Med Tech. Our marketing partner, Allstar, contracted with the largest hospital system in Jamaica to run the testing. TPT Med Tech is supplying the tests, supplies and all equipment. In addition, TPT Med Tech gets $0.35 per test for the QuikPass fee (that info is not in the PR). Note: pre-pandemic, Jamaica had about 4.23 million tourists annually.
There will be more news to come as the TPTW team is still working hard. I know we are disappointed that the covid plays did not work out as we hoped. But there are things coming that have been developed because of what was developed over the past year. A lot of other companies (such as Quest) invested a lot more money in covid plays and lost a lot more money than TPTW.
As you can see from the cash flow statement, the company is still in the black. They are alive and well, not going under. I cannot address what we have experienced with the stock, but my personal opinion is that the leadership of TPTW are honest people, who have been working hard and have experienced as much disappointment--or likely more--than we have. I know that most of us have waited a long time for something really positive. I also know you don't want to hear that you should reserve judgement until you see what happens the next few months--but you really should. I could be wrong, but I have reason to believe that we might have a surprise coming soon about something we thought had fallen through and was over. Stay tuned.
