do they usually keep to their word?
In a June 16th PR Andrew Van Noy CEO stated the following:
CloudCommerce, Inc. (CLWD), a leading provider of digital advertising solutions, today announced that it now expects 2020 full year revenue to exceed $14 million and net operating income to exceed $1 million. Management’s confidence to provide guidance was driven primarily by contracted revenue from its existing client base and new clients added within the last few months.
Shortly after when the share price spiked based on the PR--note conversions for past securities purchase agreements took place on June 18,24 & 26 confirmed by 8k's filed with the SEC.
After the 3rd Qtr 10Q revenues for the year are at $8,019,804 meaning Mr. Van Noy would have to pull a rabbit out of his hat in the 6M+ range for the last quarter. It is possible over the last several months SWARM has been available in full SaaS version and the conversion has caused a lag in revenue posting due to the switch from hourly/monthly charges of fixed or variable implementation fees to a recurring subscription revenue model as a self-service SaaS platform would create.
I live in a sizable home nestled in the pines with lots of glass and to this point even on those rare days when I've indulged a little too much in my favorite libation I've yet to see a pig fly past one of the large windows. So... you won't catch me holding my breath.
Everyone on this board who has read my posts are well aware of the fact I'm banking on the technology that's been developed. Is Mr. Van Noy an A to C to B to D type of CEO? Possibly. But, during my time within the software industry I've seen situations where the effectiveness of the product that's been developed has overcome the obstacle of a weak management group. The people in the trenches doing all the hands on work in the developmental procedure implementation phases have more to do with whether it's going to succeed or not.
Who knows maybe Mr. Van Noy is a huge Seinfeld/George Costanza fan and falls along the lines of those individuals who take to heart one of the characters famous sayings--"It's not a lie if *You* believe it."
Only time will tell.
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