All that verbatim from the report sounds great
However, I’m a little concerned over their first 3 months of revenue for 2023, even though they were profitable.
Revenue = $8.2 million
Gross Profit = $1.7 million
Net Profit = $156,871
Gross Profit Margin = 21%
Net Profit Margin = 2%
They’re only on pace to do $33 million in revenue for the year 2023, and with a Net Profit of a little over $600,000 for the year.
If you multiply the Net Profit of $600,000 by the industry avg. P/E ratio of 39 = $23.4 million market cap.
$23.4 million / 17.2 million (O/S)
= $1.36 per share.
All that other stuff you mentioned that they revealed is great however. Tradition is on track to grow their operations by quite a bit over the next year. It just might be a little longer until we all get the $5.00+ per share we were looking for.
I’m not worried about their 2022 unaudited report they filed. It says no revenue, but we know that’s not possible from Tradition with their hundreds of employees and 350+ fleet (trucks), and over 2 million square footage of total warehouse space from all their various warehouses combined. Plus Tradition had $87 million in “audited” revenue for 2021 as reported to the SEC (super 8k that was released at the top of the year). And you can’t fake or lie about that amount, as it was “audited” and filed to the SEC.
This 2023 unaudited report may be a “Lite” version of their first 3 months of revenue for 2023, for all we know. It may not even count everything since its unaudited. Or it could be all the revenue they made for the first 3 months of 2023, who knows.
I’m not worried about the 2022 report. I hardly read it. It says no revenue, and we know that is not possible from Tradition. That must be APSI’s revenue in 2022, pre acquisition of Tradition. I barely even looked at 2022, since it said “blank” revenue for 2022.
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