RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:New contracts....I'm focusing on revenue only, the cost cutting they said they would do and did (although I would argue it was only in an effort to survive).
Now I can cherry pick data as well
Nov 2016 (Q3) -
Our sales team is now fully integrated and beginning to open new doors at major brands,We are the best positioned for growth in company history revenue was actually lower for the next 3 consecutive quarters and all of the last 10 quarters. I only wish they currently had the same level of revenue they had back then.
May 2017 (Q1) -
"We are looking forward to the coming quarters as we continue ramping our sales"
"two primary goals for the near future: growing sales and reaching profitability.our focus in the coming quarters is to focus on our sales and marketing efforts" 2017 revenue was the highest in company history and has been decreasing ever since
Nov 2017 (Q3) -
reducing our cost structure while increasing revenue – a two-pronged strategy that will remain in place through the first half of 2018 Q4 was slightly higher in revenue and they haven't come close to this again since.
Annual Revenue for Snipp has been as follows:
2014 $6,471,651
2015 $11,890,231
2016 $11,223,727
2017 $12,879,019
2018 $12,151,286
2019 $8,643,755
2020 on pace for similar to 2019
I'm sorry but when you are spouting off in 2016 and 2017 about increasing revenue and this is what you get I don't see how you are not disappointed. Oh and don't forget we have twice as many shares in circulation as we did back then.
I don't argue with any of what the plan was back then, there was a reason I invested in this company but if they actually succeeded we would be looking at revenues over 25 million right now and if you honestly asked Atul to project 2020 revenue in 2016 I am sure he would agree.
I'm not saying any of these statements were lies either, I am sure they we hoping for revenue growth but companies are just not buying like they thought they would.
The only "half truths" I take issue with are the bought sales (around Q4 2014 I think) and the pivot away from transactional sales that were done without being up front with investors, but the downfall of this stock and it's price is in the lack of sales plain and simple.
What we are trying to say to you is that this is not the first time they have said they are focusing on revenue, but this time there is no round of financing that is going to save them and at some point someone better is going to come along and take away all of these contracts they keep rolling over with a better product.