RE:RE:RE:Update on news
I agree with you Resilience.
With all the rhetoric coming from DM the investment/shareholder community was expecting stellar not tepid financial results. Having said this i am an accountant and reviewing the financial statements and re-reading prior news releases not all the revenues have been recorded. This is significant. Why? In accounting the financial statements have to be prepared using Generally Accepted Accounting Principles (GAAP). These rules must be followed for the preparation of financial statements. This means that accrual method for recording revenues must be used. Unless the revenue is earned from say an AI contract it won't show up in the financial statements. In my opinion, i think the AI contracts that DM entered into are term contracts such as a year and the revenues don't get recognized until the job is actually completed. One way around this is to do progress billings for a contract so the revenue can be recognized in a quarter for example which will boost the revenues reported. This is much more meaningful to investors. Millions of dollars in potential revenue may not be recognized until let's say at year end or the first quarter following the company's fiscal period. This all my opinion from a personal perspective.
In any event, shareholders should be delighted that they have a strong balance sheet even though we are disappointed with the revenue figures. It is my own opinion that DM can reach new highs with a combination of OTCBQ listing, announcing a huge covid sales contract, and announcing a huge AI contract. I think this can all be possible shortly. There are other irons in the fire that DM are working on but i won't be overzealous to mention them as they are bonus. The valuation of DM will be adjusted accordingly by the market. We just need to be patient.
We may be pleasantly surprised one day so keep the faith in DM. I'm a signifcant holder of DM and i'm not going away anytime soon. I'm extremly bullish on DM from my perspective.
GLTA