RE:Second quarter results outAngles, when I read the release the first time I wasn't happy, just my reaction. Sales down 40% . If you remove the late receipt of $2 million , sales down 20%. It reminded me of a documentary movie I like , Twenty Feet from Stardom, about backup singers. Lots of talent/ promise , but most of them never make the leap to lead / solo singer greatness.
One woman who did make that leap to greatness was Sheryl Crow. Crow in 1987-1988 , sang on Michael Jackson’s Bad World Tour. She later sang back-up for Sting, Rod Stewart and Don Henley.
So, I waited a day and reread it and found nothing has really changed with the company and all the promise remains intact. Even with reduced revenue - earnings and positive EBITDA! Increased backlog . A highly qualified person added to the board. As at June 30, 2021 the Corporation had $10.9 million in cash and cash equivalents, of which $1.3 million was restricted per the conditions of the Corporation's credit facilityafter ongoing investment into the new technology -We deployed $0.8 million in the first six months of 2021 to advance our digital products, currently in field trials, toward commercialization.".
Increased order intake. McCoy reported order intake of $7.4 million for the second quarter of 2021, a modest sequential increase of $0.5 million compared to the first quarter. While bookings showed little improvement for the quarter, subsequent to June 30, 2021, order intake levels further improved with $3.9 million of orders received to August 5, 2021.
As you said Angles , "they still may be a quarter or two away from greatness." Time to get the roadies to set up.