My first reaction is a positive one.
As usual, revenue went up. Social media is awesome. The pace of growth is slowing, but I think that is to be expected.
I like that they provided 2014 as a profitable year. I wonder what previous predictions for profitablity have been and also I think it is fair to point out that in many key things that they say, they do not follow through on or deliver.
I have trouble differentiating between the FDM and Specialty market channels. They claim Specialties to be ecommerce and B&M... but Food, Drug and Mass division, based on my understanding is basically B&M stores... so how is it a different sales channel?
My hope was to see some clarity around BZNE assets. Thus far, it has not really been made clear in my opinion about what the purchase was... is it just intellectual property or is it a manufacturing plant? I would have to go back to look to be clear, but I remember thinking on previous releases that it never put clarity around any actual things that are purchased. Intellectual property and an "organization" type is nice and can be valuable, but it doesn't mean it is. I was hoping to see "our new building with manufacturing equipment" or something along those lines... some hint to progression of closing the production/distro loop. They said in the letter that they plan on having distro in the future, but they don't now? I sort of thought that was one of the big benefits of this BZNE purchase. Or was it just cost of doing business to get Frost on board? They gave what I feel is some sort of cheesy carrot on a stick for things to come not this quarter... but the quarter after that. Now we will all have a reason to hang around and speculate some more other than the uplisting that I wont be holding my breath for.
I am also glad that they mentioned the SEC thing and even though he says he thinks it is nothing... they also apparently think Jan 28 is mid-Jan and that uplisting in summer means summer 2-5 years from now, if at all. I am being dramatic, but it is clear to me that credibility is an issue that only grows stronger with each missed statement. The easy solution... if you aren't going to be able to do it... don't say it. JMHO.
I like that some organization is being brought to this company.... it needs to be corporatized and needs to continue to have a very non-corporate spokesperson like Cory.
All in all... cmon goal so I can sell! And I think this was generally a positive letter if they can do what they say.
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