GREY:SYXXF - Post by User
Post by
nostrilon Jun 30, 2015 7:47am
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Post# 23880048
Revenue
RevenueJust taken a look at the 3 month MD&A to end April 2015 on Sedar:
"Revenue decreased 77% to $43,660 in Q2-‐2015 from $190,577 in Q2-‐2014 due to fewer customer surveys."
I find this really worrying. Not just the decline in revenue itself, but the lack of commentary. Why were there fewer surveys? Is there is reason to see this as a blip? Or does it signal something more serious about future revenue prospects of the company?
And before anyone says you can always pick up the phone and give them a call, I want the company to provide commentary to all shareholders in their public statements. I don't want to call them and get some private comments that they can subsequently deny ever making.
Other negatives:
- Their second instrument will only be ready by April 2016. Expectations of near term benefits from 3 working instruments are therefore very wide of the mark. If they maxed out usage of their 1 instrument in the last financial year, I don't see how their financials will improve much in this current year.
- "Included in accounts receivable is $378,421 from one customer that has been outstanding for more than 160 days." I assume that is 160 days to end April, making approximately 220 days to now.
After reading this latest MD&A, I'm really unsure whether to participate in the rights issue. If it wasn't for PvE's explicit committment to subscribe for the rights issue, I would have sold out already. They need to provide more information that allows shareholders to make informed decisions. Very frustrating.
N.