RE:RE:No Sedar Filingsjdsd0517 wrote: Can't have an opinion on results until we get financial statements. However, a few things are unusual:
- conference call during trading hours. For credible companies, calls are usually before or after trading, not during
- results sent hours in advance of conference call. Results are usually provided right before the call so that management can "manage" the interpretation
- why does the release on PRNewswire say "RESTATED" in the table?
- why add back "Revenue precluded from recognition under IFRS 15" to get to adjusted EBITDA? Either revenue is recognizable or not. It is highly unusual to make revenue based adjustments to get to an adjusted EBITDA number. Judging by the comparables in the table, not even WELL has done that before
- I understand why management would remove acquisition based amortization from cost of sales, but are they removing ALL depreciation and amortization to get to adjusted gross profit? What about amortization on equipment used to service revenue?
That's after 120 seconds looking at the numbers. I have NOT read any of the management commentary because i believe in the Dr. Gregory House rule as applied to management of public companies: "Everybody lies, or at least spins like crazy."
All very good points. Results still aren't published on Sedar yet.
They had time to release a nice fluffy news release but no time to publish on Sedar especially prior to a planned earnings call? yeah, right. Sure. How do you even discuss earnings without the financials in front of you??? You have to swallow what the company is telling you which, alludes to your Dr. House comment.
If ANY analyst doesn't see right through this then I would be at a loss for words. And that rarely happens. LOL