Friday, May 13, 2022 3:52:41 PM
First off, congrats to SOHM on continued revenue growth and profitability. That said, it would be interesting to learn more about the following:
1) Any guidance re: the March 2021 and August 2021 customer mandates? Reviewing year-over-year revenues, it doesn't appear that these have come to fruition, or if so, had only a moderate impact on revenue.
2) Any guidance re: Brainwise Omega? Your November 2021 PR stated that "the first purchase order valued at $750,000 has been received", and your March 4 2022 Tweet stated that "SOHM is pleased to announce that the second shipment of Brainwise-Omega 3 formula is set to dispatch to Ghana, Africa by March-end 2022." Given that this indicated two orders were shipped by the end of 2022Q1, why are we not seeing a larger reflection on revenue? Did the $750,000 number reflect SOHM's projected revenue from this sale, or was it the projected retail price?
3) Any updates on the acquisition initially announced in April 2021?
4) Is there a reason for the negative AR on the balance sheet?
5) Section 7 of the disclosure requires the reporting of "any person or entity owning 5% of more of any class of the issuer’s securities". Section 3 states that "Shailesh Shah transferred all of his shares of Series A Preferred stock (51 shares)". Should these transferred preferred shares be reported?
Some of these may be backward looking to some degree, but learning more about their outcomes will help current/future investors better evaluate forward looking statements as they occur.
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