From the PR: "SWH Reports 6,400% Sequential Quarterly Revenue Growth" and: "New Q2 data, taken relative to sales from Home Healthcare operations in its prior quarter, represent a robust sequential quarterly growth rate of 39%."
The rounded raw numbers from the financials: Q1 showed $2K in Revenue ($100K in Home HC sales weren't reported). Q2 showed $141K in Revenue including $139K in Home HC sales. Now watch carefully: The 6400% comes from (141-2)/2...which is an increase of 6450%. Note that it comes about because NO Home HC sales were reported in Q1 even thought they had $100K in sales from that sector.*** So that's definitely nuts...and extra nuts for being in a Headline.
Moving on to the source of Home Healthcare's "robust sequential quarterly growth rate of 39%": Again, watch carefully: As noted "During the three months ended March 31, 2019, the Company recognized income and costs in the amounts of $100,347 and $113,045, respectively, pursuant to the PHH agreement. The Income Statement shows HHC Revenues of $139K For the Six Months Ended June 30, 2019. Obviously then there were HHC Revenues of $39K in the second quarter.... A DECREASE OF $61K from the $100K recognized in the first quarter. Only in LaLaLAND does that "represent a robust sequential quarterly growth rate of 39%". It's BACK ASSWARDS!!!
These guys think we're all stupid and it's really only some of us.
***From the current Report: "During the three months ended March 31, 2019, the Company recognized income and costs in the amounts of $100,347 and $113,045, respectively, pursuant to the PHH agreement."
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