Here is an excerpt from the PR he sent out on Aug 15th (the famous hockey stick comments was in this one). Here's the text on sales projections...remember this is in mid August right before fins for 2nd qtr were published.
"Q2 will show a leveling off following the surge from the end of 2016 that carried into Q1 of 2017, but all indications are that Q3 will be solid. We have already booked sales close to Q2 in the first 6 weeks of Q3, as well we anticipate a solid 4th quarter with the holiday season, a perfect time for Prosecco consumption and gifting. The catalyst we continue to work on night and day that will take our brand over the tipping point is in place and are pursued with vigor, our success is your success and this is what we strive for daily.
While Q2 will be slightly lower than anticipated, we make no excuses, there will be volatility in our revenue and sales for the foreseeable future, with spikes and dips; this is the cycle of brand building, it is our hope and belief there will be a "hockey stick" milestone in our near future and our shareholders will be rewarded in kind."
Q4 was $358K. Q1 was $300K. What does "leveling off" (in red above) and "slightly lower" mean to you? Yet actual was $190K, 37% drop...misleading to keep people in before earnings release (my opinion). Another example is "Q3 will be solid", yet it was $260K. These things show a company that is floundering and making excuses. He also said Q4 should be good...that may be the case, but recently he said $2M already in Oct and another $1M to ship by Thanksgiving. And that's without December (their highest month the year before). So what do you think that means sales will report for the year...$3.5 to $4M? In reality, I'll bet it's $2M or less, based on his past.
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