RE:RE:RE:April 30 - any news on the financials?In the grand scheme of a new business finding its legs, there will inevitably be contractions. Giving this another read this morning, I’m thinking this is a healthy one:
1) Cash tightness invokes a healthy and serious (re)focus on sales. A new director of sales and marketing and a new head of sales were put in place April 16. (Seems to me 1m MGX shares trading at $0.26 today is only shortfall of $260k. With 1.625m BGRD shares being returned and cancelled, re-issuing at $0.10 is $162k; or $0.15 is $243k; etc.)
2) If and until more financing, there’s a healthy motivation to be operationally efficient. Good to see reallocating personnel to a product/service that they’ve identified as a market opportunity.
3) Partnerships and alliances remain from this year remain (see various 2019 news releases). New partnership with USCO announced here. They claim R2G didn’t receive anticipated funding - so better to end a relationship with a customer that doesn’t pay. Hopefully they learn some lessons and move on. This won’t be the only customer with issues given the industry’s somewhat wild west phase.
Better to grow / scale off of a solid foundation. I’m going to continue accumulating.