RE:Revenue is increasing substantially Gmoney$ wrote: Revenue for the three and six months ending October 31, 2020 was $2,263,000 and $4,790,000 an increase of $972,000 and $2,209,000 or 75% and 86% compared to $1,291,000 and $2,581,000 for the same periods in the prior year.
Also... Net cash used in operating activities for the six months ending October 31, 2020 was $2,688 compared to $2,810 for the same period
So where is this huge burn you guys keep talking about?
As others have pointed out press releases claiming events that never happened, I look at the past financial disclosures by this company and I find they are opaque about what inventory is on hand, how much sold, etc.
Even with the latest financials, they are still not profitable.
Finally, please note the following disclaimer on their latest financial report:
"The Company’s independent auditor has not performed a review of these condensed interim consolidated financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity’s auditor."
Buyer beware . . .
I would like to see audited financials by their independent auditors before investing again. Full disclosure: my position was closed out weeks ago at a significant loss. But, I still watch the company as may buy back in if Archerwill and the Quebec shareholders take over the company and appoint a new board and management. That will take time but more likely with time. Current management and board are not capable.
If I were a shareholder, I would be fearful of a reverse stock split as proposed sending the new shareprice to 45 to 60 cents only to watch it plummet again to these depths. The purpose of a reverse stock split is to increase share price to appear more credible (not a penny stock) and attract institutional investors, but even with the 30:1 reverse split, it looks like this company will still be in penny stock range and not gonna attract bigger investors. Best to sit on sidelines and watch for professional management to come in (if it happens at all).