I can appreciate investors that are honest like you are. It really hurts to see red but I’m happy you listened to the call and got the same confidence it gave me.
Your reaction yesterday was the exact reason they did what they did, to scare people out of their shares. It worked on many people as we saw. Huge early dump, followed by panic selling. And agree, this company has given no reason to doubt the direction we are headed.
Respect for you to come here and be open and honest.
Debo, one thing that sticks out to me that may be an explanation for at least part of yesterday's major sell off is that the 10Q shows an operating loss of 1.268 million dollars for the quarter compared to 112k operating loss from the Q3 2018.
The conference call offered a bit of insight on the increased legal fees (M/A paperwork and DD), and probably some of the general and administrative fees (BLF production startup). But this does appear to be a big negative from a financial investment perspective. We know that these expenses are part of expanding the business and increasing production for the BLF line, but until the revenue from BLF really starts to work its way into the financial statements this looks like a big negative.
Also see my previous post about earnings beat and cost of revenue. The company beat their guidance by only $50k. While any beat is good, it came with a major increase in cost of revenue. Also a negative from a financial standpoint. We know that the increase cost of revenue is being used to get things up and running.
Operating Expenses: Salaries and benefits $145,24855 Stock-based compensation $899,666 Selling and promotions expense $63,750 Legal and professional fees $266,59244 General and administrative $386,832 Total Operating Expenses $1,762,088 Operating loss $(1,268,834)
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