Moving forward I see the increased staff and hiring as a good growth indicator. The next quarter should be an improvement over Q1. I am intrigued by the language in the ‘small caps’ report from April where Jeff Gruban mentions investors should watch for the next transit authority relationship.
( Page 6 - https://smallcaps.us/transcripts/GSI_Interview2.pdf )
The same sentiment is inferred in the most recent MD&A. I personally think we see a new transit relationship in 2020 which is key for growth in my opinion. I would see this as a game changer for the company considering the lucrative contracts from SEPTA not to mention the company awareness it would cause.
On another note, someone from the CEO site kindly calculated that the market maker that GSI hired, (independent trading group), has approximately 3.93 million shares due to their buying over the last several months. With the price I saw them buying at they are definitely underwater. This bodes well in my mind as they wouldn’t have entered into this relationship if they didn’t see an upside and ability to sell at a higher price.
I am happy with my large position and feel quite comfortable here.
GLTA