RE:business outlookAnother fascinating statement to consider.
Pannu concluded, "Since going public in 2015, SHARC Energy has invested less than $35 million to create an industry and our products remain the premier scalable solutions for the Wastewater Energy Transfer market. We are proud of our progress and look forward to accelerating our growth in the coming years."
So, they created an industry, an industry in which they generated close to $2 million in revenues this year. Quick math, not dwelling in depth into detailed financial components, to cover their $4.86 million loss, they needed to generate another $15 million in revenues at their current gross margins to break even...even scale it down to $10 million to allow for some "accounting" non-cash things. I believe the balance sheet shows a need to do something about the $3.7 million in convertible debentures that became current unless they sell many millions worth of product relatively quickly to generate that cashflow.
But, yes, the world sounds poised to tackle climate change and energy conservation and saving measures are a big part of that for the many companies in those spaces.
Carry on, Mr. Pannu. We will have to see how measures needed sooner than "in the coming years" will pan out. .