Torrent YE financials are outTORR has not sold any so that is good.
Looks like they are going to push on management, also good.
Their commentary is below:
AnalytixInsight– Unrealized gain on investment of $49,700 in the current quarter and an unrealized loss of $1,051,120 for the year.
ALY’s stock price was up 6.1% during the fourth quarter and fell 56.3% during the year. This compares to the ARK Fintech Innovation ETF which fell 7.3% and 65.1%, respectively. 14 During 2022, ALY announced that InvestoPro SIM, the subsidiary of its affiliate MarketWall, has executed a Memorandum of Understanding (“MOU”) with Samsung Electronics Italia S.p.A. to profile the InvestoPro digital trading platform to Samsung users in Italy. Subsequently, ALY plans expanded European distribution in Spain, Germany, France, and the UK. In conjunction with the MOU, InvestoPro is preparing to launch a new trading platform version specifically designed for Samsung devices with no fixed costs, competitive trading fees, and news reports tailored for Samsung users. The InvestoPro app will carry financial news, quotes, and content on global markets and will be available on Samsung televisions and several other Samsung consumer products.
Torrent believes that this relationship with Samsung has the potential to be a transformative event for the company. The relationship speaks to the quality and security of the InvestoPro platform and points to accelerated growth going forward. Torrent estimates that Samsung Electronics sells upwards of 180 million devices per year in Europe and the commitment from Samsung to designate and promote InvestoPro as its exclusive financial app bodes well for attracting new users to the platform. Furthermore, we are not aware of a consumer products company of Samsung’s scale that has a direct partnership with a digital trading and financial content platform, which makes the relationship novel and speaks volumes about the quality of ALY’s product suite. We envision multiple opportunities for ALY to monetize this relationship going forward if the company executes properly.
While general market weakness undoubtably pressured ALY shares during 2022, the company’s operational performance has remained mixed. While the company has done well at initiating partnerships with many established brands like Samsung, Banca Intesa, Morningstar and Refinitive, to name a few, it has done a poor job monetizing these relationships and maximizing their value. Management has lacked follow-through and has not properly driven a cohesive strategy for the business. The public market has a high bar for performance and investors will voice their displeasure by taking their capital elsewhere. ALY’s weak share price tells us that investors are less than pleased with how the company has progressed.
The good news is that Torrent continues to believe that the company trades at a discount to the sum of its parts. Revamping their strategy to focus on monetization, execution and accountability should unlock a significant benefit to shareholders. The company currently has a market cap of $25 million, which is meager in relation to the quality of its business-critical products, revenue profile across its divisions and strategic partnerships. Torrent believes the company should explore strategic options that may include an expansion into North American markets, additional C-Suite talent, and a reorganization of the business that better reflects its value proposition and streamlines its reporting.