mCloud Technologies Corp (MCLD)

[DVP25]

Yes, I thought he did a pretty good job pressing on the restrictions question. First time that I've heard the "30% of fire code capacity" restriction detail for Alberta. He also got an actual asset number out of him that was in contract backlog (not pipeline), which Mcmeekin answered as close to 90k. I thought that was prob the most significant bit of info in the call. But I have to ask this, if they are building the backlog/pipeline as they have suggested many times, then why are they still reporting the same $178M in total backlog/pipeline that they were reporting on the March '21 call?

A few other items I took note of:

They are moving to an Aramco owned Cloud platform in SA to be announced soon.

They are now signing "Large Master Service agreements" which include 3 "mega-companies". (I'm not sure I really understand the diff between these contracts and prev other than duration)

"Very large deals" combining HVAC/IAQ coming in NA (I'll believe it when I see it)

Alberta connections still close to zero in Oct/Nov (oh my) ... but Mckmeekin indicate that will be picking up in Dec (last Qtr it was going to pickup in Sep ... it's always a month or so out it seems)

One of their customers in S.A. is "larger than Exxon/Shell combined" (OK, what service are you providing to them if they are a "customer")

Also of note, there was zero mention of the following: Arkansas govt buildings, fugitive gas installations, pull-forward revs, Utility partnerships.