Snipp Interactive Inc V.SPN

New Press Release - Snipp Interactive Provides Corporate Upd

[Partwaythere]

Well good morning, hello and how ya doing ..... RECAP !!

2023 - Q3
Mid-November for Q3 2023 - not bad 11 mil in backlog, 4 mil in cash - unaudited of course.

2023 - Q1 & Q2 - we seemed to have jumped right over these...
Once our audited annual financial statements have been filed, we will also have our Q1 2023 interim financial statements filed within five business days. Our Q2 2023 interim financial statements will then be filed by August 29. We will arrange for an investor conference call in September to discuss our 2022 year-end financial results along with both our Q1 2023 and Q2 2023 quarterly financial results.

2022 - unaudited

• For the full Fiscal 2022 period, the Company expects revenue to total between $24 million to $25 million, which represents an increase of between 57% to 64% when compared to Fiscal 2021.
• For Fiscal 2022, Gross Margin is expected to be approximately 38%, as compared to 57% in Fiscal 2021. We have continued to invest in the growth of Gambit Rewards, a B2C business, which has temporarily impacted our margins.
• For Fiscal 2022, EBITDA is expected to be positive and between $0.1 million and $0.2 million, which represents a decrease of approximately 94% or 89%, compared to positive EBITDA of $1.8 million for Fiscal 2021.
• Bookings Backlog as at December 31, 2022, is expected to be approximately $10 million compared to $10.9 million as at December 31, 2021.
• Cash at the end of 2022 stood at $5.5 million and the Company continues to be debt free.

[OPENHEIMER]

How did Sportman know they would report something this morning ?  Maybe an insider ? At the end of the day, another foggy news bulletin, and they are burning cash down from $5.5MM vs. $ 4.0MM now, and no news about the others quarters to report.  I doubt they will make the Nov.15th date, and find again some other excuse and delay, as they have no credibility in what they say.  Hope

[sportsman80]

I asked what was going on and why we hadn't been given any updates, I was told a press release was coming out today.  It was actually a follow-up request from one I made a couple of weeks ago that got no response. Definatly looks like things are moving sideways, burning about 500K per 1/4 and backlog is the same, nothing bad but definatley nothing good either.

[Maggs]

While I agree this whole thing being delayed is absurd...What is even more absurd is saying they are burning cash and moving sideways and nothing good??? Snipp is building out two different businesses (Gambit & Core Snipp) and starting Snipp Media to advance their own businesses...using their own cash flows and some of their cash is hardly moving sideways. And lets not forget building out

[sportsman80]

I'll beleive it when I see it with Gambit turning into profit and SnippMedia being more that a sound bite on conference calls.  If I beleived everything they said was going to happen we would be signing countless new contracts with all the different brands inside these companies they have apparently got their foot in the door with over the years, yet backlog remains the same and revenue

[Maggs]

Burning thru cash to survive is one thing, using cash to grow your business and a new subsidiary business is not the same. I agree with many of your points in the past and present.  As far as people hiring, the payroll has expanded immensely. Whether anything good has come from it,  we will know soon enough. It's been just about a full year without any relevant information