The worst of the last fins will probably not get any better in the next fins.
Gross profit 13M (this should go up in next fins) Expenses 110M (this will probably go up too) Loss from operations 96M (guessing this up too)
The loss per share numnber will get better. Was 112M loss on 40M shares for -2.77 per share. Now with over 10 times the shares out there it will be closer to only -.277 loss per share. That's improvement, right? lol
And those "admin" expenses, really? These aren't going down imo. Salaries and Benefits $27,058,350 Share-Based Compensation $31,360,669 Professional Fees $8,841,568 Deal Costs $6,503,107 Rent $6,363,324 Security $3,858,474 Travel and Entertainment $3,104,878 Insurance $1,800,506 Licenses, Fees and Taxes $1,760,375 Payment Processing $1,754,379 Other General and Administrative $5,775,348
Total General and Administrative Expenses $98,180,978
Dilution with OS now 440M and MCAP 2.6B This represents a 11x, 1000% increase in OS. June 30th OS only 40M
The next fins will have a hard time looking very good imo.
They should show good revenue increases. What good is that when you spend $10 for every $1 in gross profit?
IOW, it would take a 10x increase in gross profit to cover the expenses they were running back in June.
No wonder they're going to do the old "conference call to explain the fins that come out after market close" routine.
[disclaimer] I held my nose and traded this a couple times. Probably will again. Buy honestly, it's going to have a hard time when the market has to soak up 400,000,000 new shares.
mgt greedy with subordinate common shares and extravagant/ridiculous compensation for running a company with a 10:1 expenses to gross profits ratio. They really haven't earned it.
Not my favorite company. That's ok, I trade the ticker.
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