Roddiggiti wrote:
Insiders own quite a bit of stock. Even though the two major shareholders disposed of some shares a couple years ago, they still have decent positions, plus some shares were given for debt recently. All that paper, there's a plan in place to get this ramped up. COVID might be holding sales back from ramping up, but they were close to breaking even last quarter, so some cost cuts and additional revenue should make them profitable for the upcoming quarter.
I emailed the company and these are the replies back, condensed from several emails between early January and now:
- At this time, the Company does not have any plans to do a rollback. With respect to private placements, or capital raises, the Company raises funds in order to run the operations and grow its business … therefore, only when necessary.
- The Company’s objective from the outset has been to create a great product and to expand upon the product with newer technology and features. It has also been our goal, concurrently, to increase its revenue share partnerships and sales quarter over quarter, year after year. Timing to achieve these goals have been a bit more challenging than anticipated but growth and profitability is a top priority.
- COVID has created a very tough environment for the Pool Safe business but we are starting to see some “green shoots”. North America, geographically, is where the Company has done the majority of it’s revenue share partnerships. We remain extremely focused on growing that market.
- We have used, along-side other marketing brochures, the presentation for various IR and marketing campaigns. We have a 2021 IR and marketing plan but are waiting for great visibility with COVID and our revenue share partners prior to kick-starting these initiatives.