Great question,
Does not concern me, TriCascade is a wholly owned subsidiary of SRMX impart to the voluntary dissolution of SkyFidelity. SRMX owns 100% of TriCacscades (SkyFidelitys) common stock. IMO having our investor purchasing preferred TriCascade stock (Equity in SRMX) is ideal. Lowering debt/equity is one of the first signs SRMX is becoming a well managed business. Although we have a long way to go, they are certainly starting to show signs that we have all been wanting to see.
1. Reducing debt
2. Showing they have the capability to manufacture and ship tech that has taken millions of dollars developing and has taken several years collaborating with Microsoft to prefect. THIS is nothing short of monumental.
3. Confirmed Revenue (From Microsoft) not worried to as what the PO size is because of point above, more so that revenue is reflected.
4. Laser focus, as a start up IoT company they have been all over the map, trying to find a niche that could have been profitable. (Failed ideas) Which is okay, as long as you land on an idea that leads you to revenue, which they have with the Tritom Azure Sphere. (Maybe our new investor is helping the TriCascade team focus?) Either way revenue is the first step to becoming cash flow positive and being able to expand on all Maxs IoT projects. IMO Max can stay quite as long as the QRs continue to show debt reduction and revenue.
One last note about why we are not pink current.
Our attorney messed up the attorney letter back to back and now we have to wait until Q2 filling to become current. Below is the verbiage from the OTC market and you can see the attorneys letters VIA OTC Market under SRMXs disclosure tab.
PS- These types of small mistakes is something SRMX has to clean up moving forward but believe we are moving in the right direction.
Hope this helps team!
“For companies with unaudited financial statements, OTCMarkets relies on the issuer’s securities lawyer to thoroughly review an issuer’s disclosure prior to writing an Attorney Letter. This letter must clearly state that the information provided by the issuer complies with the OTCPink Basic Disclosure Guidelines. If the company does not qualify for the Current Information tier after its securities attorney submits the Attorney Letter, OTCMarkets will generally work with the issuer and the attorney to explain what information is missing or inadequately disclosed, and will conduct a secondary inspection once a new Attorney Letter is posted. At this point, if information is still missing or inadequate, OTCMarkets will not process any additional Attorney Letter submissions until the next quarter”
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