Friday, February 18, 2022 12:51:49 PM
Had a quick look at the financials - any idea why/how revenues were so high in 2017 (3.7M) seems it faded after that year and that 2020/2021 appeared to be deeply impacted by COVID. Any color based on your history or engagement with the company?
What I do like is that the company is now profitable by a reasonable margin - on a YTD basis their net income is 436K on 574K of revenues (they reported negative net income for all of the past 5 years so its a good sign). In addition, revenue does appear to be picking up as they only earned 113K in revenue for 2020 / 88.7K for 2021FY (March FYE) and now YTD for the past 9 months are at 574.5K. Based on the latest balance sheet liquidity appears adequate and I do like the fact that they have not diluted at all their shares with the exception of very small director grants. Will dip my toe in and keep researching just figure I touch base to see if anyone knew the whole past story.
Cheers,
E.
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