They announced earnings today and it was sad. The revenues increased and costs were suppressed a bit in SG&A and R&D expenses. Net result was a $29 million loss with 70% of that attributable to BTC mark to market loss. That being said they still lost $6 million in the quarter.
Their cash position is $19 million so they have a few months to go before they start selling more shares with the burn rate they’re exhibiting. They did reduce operational cost a bit. I didn’t hear anything from Sean Kantor during the CC. He’s always the one that gives the financial part of these CC’s. I wonder if he’s still with KULR?
Mo did state they’re bringing someone in that can decipher if an order is going to be profitable and good for their business. This is rudimentary in any business and once again EXEMPLIFIES WHY MO SHOULDN’T BE RUNNING ANYTHING!
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