By next week, it will be a FULL YEAR since the constraints to their business, resulting from the pandemic, had supposedly been lifted ...
"... in fact, carries through to about mid-March. Now that’s behind us pretty much everywhere, in fact, everywhere is behind us. "
- Russ Mcmeekin 4/4/22
This coming after almost two years of investors being told that a contract back-log had been building up as they continued to sign up customers but were unable to implement until the "pandemic restrictions" were lifted. As of mid-August, Mcmeekin was still sticking to his 90K year-end target.
Mcmeekin may be able to continue BS'ng his way through conference calls, putting out fluff PR's, modifying performance metrics, posting blogs and ESG articles, signing "partnerships" etc to keep skating by with no accountability for awhile longer, but he should NOT be able to hide from the public comments he's made regarding the contract backlog. If that contract backlog is not proven to exist, there should be legal accountability. Too many people, including myself, have lost large sums of money believing that this contract back-log existed ...
11/12/20: "Bottom line going into 2021, of our top 10 customers, if you look at the contracts we have in backlog right now, we have over $50 million going into 2021."
5/25/21: "So other than what we converted to revenue, we added double-digit of millions in just recently."
11/29/21: "Yes, so very specific number of assets (under signed contract) is about close to 90,000."
12/07/21: "These contracts are comprised of AssetCare™? solutions for wind, communications, and oil and gas. The total contract value for these awards is expected to exceed US$5 million, with contract formalities to be completed this month."
3/2/21: "mCloud announced it had signed new AssetCare contracts at six oil and gas facilities in Alberta, including the adoption of mobile connected worker and connected asset solutions by multiple oil and gas companies in the province."
8/16/22: " ... but we just look today, that's $83 million of TCV, of which the Middle East will grow disproportionately. But for now, Middle East is 22% of the $83 million, Asia-Pacific's 18%, UK/EU's 14%, and North America is 45%"
8/16/22: "Asia Pacific, we started again signing some very large oil and gas deals all over the place. So inSoutheast Asia, in Australia -- so that's definitely back and rocking ... "
