Viemed Healthcare Inc VMD

RE:RE:RE:RE:RE:VMD Share Price

[lscfa]

 

p.s. it is getting smaller and less impactful after the initial pigs feeding at the trough when Viemed was spinout from PHM.
 

 

Phantom sh plan
	No of Shs o/s	Issued	Vested	Expired
Mar31/21	951,000	0	0	34,000
Dec31/20	985,000	0	0	34,000
Sep30/20	1,019,000	0	0	23,000
Jun30/20	1,042,000	346,000	601,000	31,000
Mar31/20	1,328,000	0	0	22,000
Dec31/19	1,350,000	0	0	33,000
Sep30/19	1,383,000	0	0	38,000
Jun30/19	1,421,000	351,000	550,000	17,000
Mar31/19	1,637,000	0	0	55,000
Dec31/18	1,692,000	0	0	29,000
Sep30/18	1,721,000	0	0	36,000
Jun30/18	1,757,000	1,793,000	0	36,000
Mar31/18	0	0	0	0
Dec31/17	0

 

lscfa wrote:

 the phantom stock plan creates volatility in reported results and bozo mgmt does not even try to back its effects out to reflect reality. I told them this in an email.
 

.....This understates the cash flow from operations no. and by not adding it back to adjusted ebitda that no is understated too.

In the June 2020 qtr a $3.6 million Covid grant was not subtracted from the adj. ebitda calc., overstating it and making comp with the upcoming Jun 2021 qtr look worse than it really is.

 

Mgmt needs to try harder at calculating adj ebitda so that it reflects economic reality and provides a better picture of what can be expected going forward under normalized conditions. Otherwise, unnecessary volatility in the stock price will continue.   

 

donmayne wrote: At this rate, the Phantom costs will be in negative territory and will add to the bottom line in Q2.  It's counterproductive that a compensation incentive plan can turn negative.  How demotivational!

The quarterly fluctuations create problems all around.  Hence the down trend this month.

Here is the email that I sent to Glen Akselrod (IR) & Todd Zehnder.  I don't request/expect a response.

[e-mail]    [e-mail] 

Todd and Glen,  

 

 

It appears that the Phantom Expense program and in particular the manner of accounting has design flaws.  It is negatively affecting any long term trends in fundamentals because of the manner it jumps around from quarter to quarter because of the volatility in share price.  This throws a wrench into the stability that you are seeking for the long term.  

 

Surely an employee reward system that does not exacerbate the volatility of the share price can be found. 

 

2021Q1 should have been a quarter to be proud of but alas, Viemed has missed expectations due to the impact a sudden increase in stock price had on the Phantom Expense.  

 

Sincerely,