lscfa wrote: Missing deadlines is one thing but every year Reliq has to restate the Q1,Q2,Q3 fins due to errors caught by auditors in Q4. This makes the quarterly fins unreliable. If you back out Q4 stock comp it is negative $521,296. This is obviously wrong because the annual MDA shows Q4 loss to be larger than the backed out no. by $1,521,836.
Audited results
On October 4, 2021, the Company granted
500,000 stock options to consultants, with an exercise price of $0.86 expiring on October 4, 2026. These options vested immediately and were valued at
$252,430 using the Black-Scholes Option Pricing Model using the following assumptions: expected volatility: 103%, expected life of the options:
2.5 years, expected dividend yield: 0%, and risk-free interest rate: 0.65%.
On December 15, 2021, the Company granted 1,500,000 stock options to consultants, with an exercise price of $1.05 expiring on December 15, 2026. These options vested immediately and were valued at
$911,388 using the Black Scholes Option Pricing Model using the following assumptions: expected volatility: 101%, expected life of the options:
2.5 years, expected dividend yield: 0%, and risk-free interest rate: 1.02%.
On December 20, 2021, the Company granted 1,700,000 stock options to staffs and consultants, with an exercise price of $0.95 expiring on December 2, 2026. These options vest over 18 months and were valued at
$960,270 using the Black-Scholes Option Pricing Model using the following assumptions: expected volatility: 100%, expected life of the options:
2.5 years, expected dividend yield: 0%, and risk-free interest rate: 0.93%. During the period ended June 30, 2022, the Company recorded a share-based payment of $860,303 related to these options.
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Q3 unaudited
On October 4, 2021, the Company granted
50,000 stock options to consultants, with an exercise price of $0.86 expiring on October 4, 2026. These options vested immediately and were valued at $34,150 using the Black-Scholes Option Pricing Model using the following assumptions: expected volatility: 112%, expected life of the options:
5 years, expected dividend yield: 0%, and risk-free interest rate: 1.08%.
On December 15, 2021, the Company granted 1,500,000 stock options to consultants, with an exercise price of $1.05 expiring on December 15, 2026. These options vested immediately and were valued at
$1,207,402 using the Black Scholes Option Pricing Model using the following assumptions: expected volatility: 105%, expected life of the options:
5 years, expected dividend yield: 0%, and risk-free interest rate: 1.26%.
On December 20, 2021, the Company granted 1,700,000 stock options to staffs and consultants, with an exercise price of $0.95 expiring on December 2, 2026. These options vest over 18 months and were valued at
$1,208,147 using the Black-Scholes Option Pricing Model using the following assumptions: expected volatility: 101%, expected life of the options:
5 years, expected dividend yield: 0%, and risk-free interest rate: 1.22%. During the period ended March 31, 2022, the Company recorded a share-based payment of $472,960 related to these options.
Tropicalsun wrote: EdinColorado wrote: They are building their customer base rapidly, so unless something really unpredictable happens, the good quarters you mention seem inevitable.
I was ticked that after they emailed us about the revenue call and webinar, they did not follow up with an e-mail announcement that it was cancelled and would be rescheduled. Rebuilding credibility is needed as much as anything, and was undercut simply because someone couldn't be bothered to use the email list they already had to gain the credibility that comes from just keeping people informed.
Once again I agree with your comments. Some here would say don't sweat the small stuff, however a delay in filing the financial report often does not go well. In this case everything worked out, however the company certainly could have handled this situation much better.