Earnings ReportQuarterly Earnings were released yesterday. I've been anxiously awaiting how this quarter would turn out.
It's disappointing to see that there was a loss, although it was a fairly tiny loss.
Did anyone catch the Conference Call? I had to be at work, and missed it.
In the Management Commentary on the Earnings Reports, they seemed to be stressing and over-stressing the point that this quarter's loss was due to investment in OnTouch Merchandising technology. I guess they expect big things from this, but it remains to be seen how well the consuming public adopts this. Things like shuttle express tickets make sense, but I'm not sure how many people will be buying watches and jewelry through OnTouch - but I'm willing to wait and see.
I've been re-accumulating a small position in GXI since the beginning of the year. I'm now at 15,000 shares and my average price is just under $1.00. Although I'm disappointed at this quarter's loss on the earnings report, I'm willing to wait it out a bit at this point.
I hate being in the hole, and I can envision a few frustrated shareholders dumping this stock in the next few weeks. Nevertheless, truth be told, if I didn't have any GXI stock already, I would probably be accumulating a bit at this price. However, since I already have some shares, I'm not willing to commit any more at this point... not until I can see that this company is getting some traction with its OnTouch Merchandising technology.
They've been promising good things for some time now, so the clock is ticking.
Here's hoping for some favourable results in the next few months ahead.
GLTA