RE:Great contract expanding into oil n gas industrycomissioner wrote:
15 million contract expanding into oil n gas industry. North American connected devices growing past 20 000 reoccurring revenue chines market expanding Hidden gem of a stock in great place AI software cloud services creating vAlue with asset management energy efficiency cost savings $$$ Great work mcld.
Does anybody else find the PR from this company to be pretty sketchy -- as in egregiously promotional and misleading? Their claims just don't make sense.
The recent O&G deal with Fulcrum is very carefully worded to make you believe that Fulcrum is an established player in the O&G space and the deal is "worth" $5m / year. But you'll have trouble finding any footprint of "Fulcrum Automation Technologies" online. Shane Maine, who is quoted in the PR as the chairman of Fulcrum, is well-known for founding the successful tech rollup Pivot. He is now involved in two new publicly traded cos, Quisitive and Converge, and is the chairman of Fulcrum Technology Holdings, which is a private investment holding company through which he owns stakes in those public cos.
The point: It appears that Fulcrum Automation Technologies has been recently dreamed up by McMeekin and Maine as a way for mCloud to generate yet more hype. I seriously doubt Fulcrum has any customers.
It also seems they went out of their way to frame their purchase of the Agnity royalty as a business acquisition. They bought a royalty, not the business, yet they talk about consolidating revenue etc.
Any thoughts from folks on here who have done some solid DD on this company?