Release of financials was a nice surprise! My
Post# of 40991
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Posted On: 12/15/2018 9:37:00 AM
Release of financials was a nice surprise!
My take is:
I don't think that DE has been paid yet. If DE was paid the transaction would have to have been reported as a "Subsequent Event" IMO that is why the financials were released early. I think Monday's PR will finally put this issue to bed. That should be the first major event to occur that will bring back some confidence.
Financials revenue and net income were as solid as you will find in pinky land. 54% net profit of sales (prior to other expense) is unbelievable. 4th qtr sales at about 1.3 which is up from 3rd qtr slightly. I was hoping for more but still very positive and growing slow but steady.
Footnotes page 17 & 18 says:
The FMS Drive Safe App is the frst App in this space to be distributed on a global basis and it is available in Dutch, Romanian,
German, French, Italian, Russian, Spanish and Slovakian. 7 languages, Hmm didn't BMW request 7 languages? I wonder if we have some deal with them?
Finally, I'm still a little confused on the Balance Sheet. I'm looking for the balance of $1,555,000 still owed to cogosense(2.6 - 1,045,000 paid) Page 14 footnote says the $2,000,000 non current liability is to SB. I guess the current liability of $2,074,506 is that and something else? That means that we can expect to have that all paid of within the next year.
Hold on fellas, hoping Mondays PR is the launch.
Please SB review the PR thoroughly before release and check for spelling etc. Give us some red meat news!
MSP
My take is:
I don't think that DE has been paid yet. If DE was paid the transaction would have to have been reported as a "Subsequent Event" IMO that is why the financials were released early. I think Monday's PR will finally put this issue to bed. That should be the first major event to occur that will bring back some confidence.
Financials revenue and net income were as solid as you will find in pinky land. 54% net profit of sales (prior to other expense) is unbelievable. 4th qtr sales at about 1.3 which is up from 3rd qtr slightly. I was hoping for more but still very positive and growing slow but steady.
Footnotes page 17 & 18 says:
The FMS Drive Safe App is the frst App in this space to be distributed on a global basis and it is available in Dutch, Romanian,
German, French, Italian, Russian, Spanish and Slovakian. 7 languages, Hmm didn't BMW request 7 languages? I wonder if we have some deal with them?
Finally, I'm still a little confused on the Balance Sheet. I'm looking for the balance of $1,555,000 still owed to cogosense(2.6 - 1,045,000 paid) Page 14 footnote says the $2,000,000 non current liability is to SB. I guess the current liability of $2,074,506 is that and something else? That means that we can expect to have that all paid of within the next year.
Hold on fellas, hoping Mondays PR is the launch.
Please SB review the PR thoroughly before release and check for spelling etc. Give us some red meat news!
MSP
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