RE:RE:New Press Release - SHARC Energy Announces Q1 2023 Financial ResultsThe WET Industry Supporting Policy is the least impressive aspect of the NR IMO (and pretty well a rehash we keep seeing). It is like any player in any industry putting out stuff talking about how big their industry is and finding some examples that support the narrative of having products catering to the needs. Who cares, every industry is big for a microplayer. How much of that is the company going to be able to get is what counts.
Now, to what the two latest financial results say has happened. FY22 had lower revenues than FY21. Q1 FY23 revenues are lower than those of Q1 FY22. The pipeline as defined broadly of any and all depths or lack thereof of client engagements and that is going up. However, $730K of Q1 FY23 revenues has converted 38% of the sales order backlog (actual contracts signed I think). Does that mean that actual signed sales contracts to be filled are now just over a million dollars?
Excitement IMO will start happening when the "pipeline of everything" (to save myself a paragraph of dissecting their terminology of a whole sales cycle) starts maturing and this counterintuitive pattern of great activity but declining revenues does a gigantic U-turn. Shouldn't take much longer based on what their partners had indicated last year and that Mr. Pannu stated.