According to Provision's investor presentation from September 2010, on page 16, 27 of the 47 kiosks have already been installed at KV Mart. The 47 are projected to generate revenues over $4.5 million annually, which would equate to around $2.5 million for the 27 kiosks, or $625,000 per quarter.
However, according to the recent NT-10Q filed, there is no expectation of a significant change in revenue results for the quarter ended March 31, 2011, despite the revs in the prior year quarter being only slightly above $8k:
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? Yes o No x
How can this be? Are the revenue projections simply way way way way off? Hopefully we will know more when the 10Q is finally filed, but seems this could be yet another reason why the stock price is down.
I will point out on the positive side that the revenues reported for Dec 30 quarter were 186K which would suggest to me at least an initial positive response, but without the breakdown it is hard to know.
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