RE:RE:RE:Financials outNorwood,
I get it that when one meditates, he must be all in the present. Problem is, this forum is not about meditation, it's about investing, LOL! When investing, you need to think much bigger picture. Following from Contact Financial, LTE's IR firm:
"Yesterday, Lite Access Technologies (TSXV:LTE)(OTC PINK: LTCCF) reported its 2017 Q1 financial results. Lite Access continues to grow with revenues up +121% versus Q1 2016 and the UK presenting a massive opportunity for the company’s innovative and proven micro-trench and fibre technologies.
The loss showing in net income is reasonable given the costs to launch UK operations. In anticipation of significant business within the UK, the Company trained and intentionally overstaffed work crews so that they can scale quickly. This was referenced in detail in page 6 of the MD&A:
'The Lite Access UK operations began generating revenues in the latter part of the first fiscal quarter of 2017, after a period of intensive training and trialing of different deployment methods. As a result of the training and trial activities, cost of sales exceeded revenue over this period of time. This is largely due to the Company intentionally overstaffing crews to allow for development of an experienced, trained workforce that can be rapidly scaled to meet anticipated future demand. Additional startup costs including management and employee wages, rent, insurance, travel, shipping and office supplies resulted in the net loss during the three months ended December 31, 2016.' "
All good!