I agree with your underlines CJ, these notes are frightening. Things are certainly not going as they planned. Likely because they are extremely unqualified to run any type of manufacturing or biopharmaceutical business at all. Things like this will happen when you have three customers. That's why we need experienced people with industry connections on board. Couldn't agree with you more. The four new customers mean nothing as they are likely part of the 2% that is not the big three. If not, the revenues would not be forecasted down for next year.
So if they received the delayed 10m in fye 2017 their revenues would have been about $67m. They were pushed to fye 2018 and the hoped for revenue is less than 57M, which includes this 10M. Without it there would be revenues of less than 47M which would be a 30% decline from fye 2017.
Does anybody but me think that maybe there was some funny business going on towards the end of the year? What looks better, 57m revenues with about the same projected for 2018 or 67m revenues with a forecasted decline of about 30% to 47m in 2018?
Appreciate you pointing this out for everyone CJ. Scary, scary stuff. Very shady also. These guys have to go. They are screwing up AVID just like I said they would. They are incapable of running it obviously. With these clowns in charge, AVID III will never get done.
What is a manufacturing company with 34% margins, three customers and declining revenue worth? I guess we'll have to wait and see what the huge independent appraiser gave to NASDAQ to get the 6 month extension from delisting.
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