RE:RE:$76 million market cap at .26My friend .. you won't find too many asking the question you asked.. which is a question that you should always ask for any stock.
Let me try for year end Dec. 21...
Ravenue 102MM
Cost of Ravenue -68MM
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Gross Profit 34MM
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Operating Expense -48MM
Net Interst - 2MM
Other expenses -14MM
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annual net income -30MM (losing 30 mill per year net cash)
Total assets 328MM
Liability -106MM
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206MM
Cash position was 45MM
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Basically you have a company that book value is about 206MM + 45MM cash = 305MM,
But it's losing 30MM annually .. you have 294Mil of shares.
So, that was for year end Dec 21.. very rough estimate but close enough. That would give you around $1/share ..
In meantime we had two quarters, and cash depleted to 29MM, with losses progressing on higher rate due to disapearing of covid contracts and whatever...
Market is future looking discounting mechanism.. right.. so this thing got pumped to $3 and market value was.. close to 900MM. This was the time to scrach your head. Anyhow, people belived that this thing will go sky high .. and were ready to pay $3 in order to get in future a lot.
Now book value of the stock .. might be around $0.9 ... but the way it looks, losing money, losing contracts,.. selling .. bla bla... people are stuck and the company goes to liquidation in a year or two.. so market selloff, inflation is also a factor .. and we are at $0.26.
Hope that sheds some light..