VeeMost Technologies Inc (VMST)

[Plato_]

What's going on with GDVM Revenues?

I believe that when the reverse merger was consummated "on or about" February 21, 2023, the surviving entity, Global Developments Holdings, Inc., inherited revenue from VeeMost Technologies, LTD.

Until recently, the surviving entity was unable to generate new revenue because it did not have tax accounts. Nor was it able to bid on Federal contracts because it did not have a SAM.gov account. By the way, the latter is dependent on the former.

So, for the past 1 1/2 years, revenues wound down to 0. Living on the fortunes of the past, so to speak. Perhaps an M&A learning curve was at play.

But that all changed in our last "Q!"

From the June 30, 2024 "Q:"

"The Company had a slowdown in revenue due to some of the major contracts being on hold due to getting tax
accounts and other government accounts switched over to the new entity."

From the September 30, 2024 "Q:"

"As all our tax issues have been worked out, VeeMost has been able to complete its profile on SAM.GOV and
will begin to actively participate in government bids. We will continue to grow our erate side of the business."

My guess is that the $1 Million revenue recognized in the last quarter is NEW revenue, unlocked by the new tax accounts that are finally in place, and just the first installment of more revenue to come.

Also, I would expect bidding on new Federal contracts to commence in earnest!

It's looking good for 2025! IMO 🚀

Disclaimer: While every effort has been made to ensure accuracy, Plato_ assumes no responsibility or liability for any errors or omissions in the content of this post. The information contained in this post is provided on an "as is" basis with no guarantees of completeness, accuracy, usefulness or timeliness. These are just my opinions not advice. Do your own due diligence.