There is a lot to look at in the shareholder letter, while I wouldn't say there is any "breaking news".
[IoT Smart Tanks - If you read between the lines you get a little information about the Fortune 500 company. I had to look up the definition of EEUU. But basically EEUU means United States. (a Spanish to English deal)
So "one of their EEUU facilities" means the Fortune 500 company is an international company. Also, before now we had no way of knowing if the 2500 units where stretched out across the country, and across the company. Now we know that all 2500 units are at just one of the Fortune 500 company's facilities, and unclear if that included all the tanks at the one facility. Thus the further potential is perhaps the same facility, more facilities in the U.S., more facilities internationally, as well as perhaps many more companies to go after.
We learn that we should get an update soon, and hopefully the Fortune 500 company is pleased and wants to add more, but we also learned that the recurring revenue from just the first order of 2500 units is already profitable for the company.
Fintech - I thought we were waiting some time for all this to rollout. That may still be true, but we learned that all the services are actually already deployed in a test phase. We will see for how long it is tested, but being in a test phase seems further along than just "coming soon" IMO.
We get some vague M&A guidance, not really new info, mainly a reminder that something could come out at any time.
Goal to surpass $60.5 Million revenue forecast. Not just a possibility, they are actively working to achieve (goal)
"Entirely debt free company" - then "minimizing commercial debts"? A little confusing there, but most all companies have operating debts, I believe debt free is referring to long term and toxic debts like warrants and convertibles.
Assurance that there is no urgent need to sell more shares. This tells me they have time to wait and try to get the best price the market can provide.
As they used to say "Catch-22" the higher the market price the more the company can do with it and the stronger they can get, but the market wants them to get there first it seems. The answer may lie somewhere in between. As, they are able to do so much more now at this share price than they could under a dime, they are working for that next leg up.
IMO, right now they need to show some good, improved, numbers in the coming quarters, and/or, come out with some news demonstrating solid performance, progress, or a more clear undeniable path to it. It's not an event, its a process.
Maybe some of the best news, tucked away inside the letter was this company guidance for the second half of the year "We will maintain our current trend ... increasing the value of our Stockholder Equity, reducing operating expenses as a percentage of revenue, and increasing our EBITDA." In other word improvements in gross margin, and thus perhaps gains toward profitability, or actually achieving profitability.
