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Sphere 3D Corp ANY

Sphere 3D Corp. is a Canada-based bitcoin mining company. The Company delivers data management solutions via hybrid cloud, cloud and on-premises implementations both directly and through its reseller network and professional services organization. It provides data storage and desktop virtualization solutions for small and medium businesses and distributed enterprises. Its segments include Digital Mining and Service and Product. Its brands include Hybrid Virtualization Engine (HVE) ConneXions and Unified ConneXions (UCX). HVE ConneXions combines virtualization solutions with hardware to support cloud requirements for corporate, government, and educational institutions. HVE ConneXions specializes in virtual desktop, server virtualization and network storage that is compatible with various types of workloads, including desktops, servers and databases. UCX is engaged in providing information technology (IT) services to corporate, government, and educational institutions.


NDAQ:ANY - Post by User

Bullboard Posts
Comment by dpunt32on Jul 28, 2014 4:41pm
149 Views
Post# 22788638

RE:Sphere 3D Corporate Update!!!

RE:Sphere 3D Corporate Update!!!I am not sure what to make of this corporate update. It is a bit odd to be putting this out now given full results should be out in a couple of weeks. Perhaps done to get some news out to help support the stock. This update has raised some further questions for me 1) They indicate cash and ST investments of $9m, at end of Q1 it was around $7.4m, so cash only went up $1.6m despite doing a $10m equity offering, assuming $6m went to Overland as a loan, where did the rest go ? Did Overland receive a larger loan ? Or was there a bigger operating loss in the quarter. 2) they mention total assets exceeded $35m at end of quarter. At end of March total assets were 27.2m, so if add $10m equity raise, total assets should be approx. $37.2 m, what happened to the $2.2m, was there an operating loss ? or was there an asset writeoff ? it is unclear to me 3) on the revenue number of $1.7m, I would like to know how much of that is due to V3 being counted in for a full quarter, vs the legacy Sphere business. The V3 deal closed March 21st, so this quarter will reflect a full quarter of V3 revenues which was not the case for the previous quarter
Bullboard Posts