mCloud Technologies Corp V.MCLD.H

RE:RE:RE:RE:RE:Lack of connected asset growth

[nkbourbaki]

energygal wrote:
I couldn't find any evidence that Fulcrum is an operating entity. Poking around on LinkedIn, found the following:

Fulcrum Technology Holdings is a global investment holding company / merchant bank with deepdomain expertise in consolidating companies: 

• CONVERGE: Hybrid IT, cloud computing, enterprise blockchain, disaster recovery 
• QUISITIVE: Digital Transformation, IT Consulting, Microsoft Channel Partner 
• FULCRUM ENGINEERING AUTOMATION: Industrial Internet of Things 
• SPIRIDON: Smart Home, Consumer Electronics, SoC Applications 
• European, Southeast Asian consolidations in progress

https://fulcrumth.com/
 

I bet the buyout of Autopro was the goal from the start and there was no $5M/yr coming from Fulcrum. I think Russ and Shane invented a product and a customer. Likely mcloud couldn't fund a buyout of Autopro directly so this Fulcrum merchant bank is somehow funding the deal. Way more complex than I have the ability to understand.

Too many red flags for me. I'll take a pass for now.

That's all I could find regarding Fulcrum, too, and I think you're on the right track with your guess.  

I see that the promised financials have been delayed.   Perhaps the auditors didn't like them consolidating the revenues of a company in which they only own a royalty interest.  (In fairness this likely isn't the current issue because the Agnity transaction didn't close until after end-of-period.)