Hard to get excited over the Financial StatementsI like Cloud DX business model, but the current Financial Statements are not so good.
Current assets are $1,176,956.
Current liabilities are $4,235,282.
Trade receivables are $349,037.
Accounts payable are $3,430,647.
As a rule, I do not invest in companies with negative working capital.
YOY revenue growth is slightly negative.
Comprehensive lost for the quarter is $2,288,287.
Cash on the balance sheet is $19,301.
On July 6, 2022, Cloud DX received $1,970,000 from a financing deal. That is not enough cash to cover Q2 accounts payable of $3,430,647.
Cloud DX is signing new clients and partners, but so far, sales have not increased.
At this time, it is unclear when the company will be profitable.