Water Ways Technologies Inc WWTIF

changing focus

[Possibleidiot01]

I bought shares because it was a play on the need to use water more efficently WORLDWIDE.

Mr. Ohad Haber, CEO and Chairman of the Board of Water Ways states: "The first quarter of 2023 shows the shift in our strategy. Over 60% of our revenues were derived from the Canadian market which also resulted in an improved gross profit of over 21%. In the months we also hope to increase our project revenue in Canada and improve our margins."

With these revenues of $4.1 million , that means roughly $1.6 million of their sales were outside Canada. Not zero  but not much.

On the other hand , results seem pretty good , better margins and lower expenses.

	(CAD in thousands)		For the three months period ended March 31,
				2023		2022		Change %
		Revenues:
		Services Projects		664		904		-26.5%
		Products		3,448		3,742		-7.9%
		Total Revenues		4,112		4,646		-11.5%
				-		-
		Cost of Sales		3,226		3,833
		Gross Profit		886		813
		Gross Profit Margin %		21.5%		17.5%
				-		-
		Operating Expenses		945		984

The decline in services revenue may be showing a focus on larger projects that require less engineering/ customization?

The weather in Canada seems to be cooperating and helping the company's new focus with dry weather being widespread ; still wish international operations were doing better

[constructionsite]

true - good point. However, Canada, like other developed countries has customers that are, on balance, likely to pay (or better, be forced to pay by courts and laws) than the developing countries with more fragile legal systems. So, in uncertain economic times, it is good for us to have more revenue coming from safe ol' Canada. Their "cash" dropped this quarter, while "current