RE:RE:I love a bargain, Atlas is cheap, profitable and growing Atlas began trading on the venture exchange after a reverse takeover done in September 2017. By the end of the first Fiscal Year (2018-05-31), Atlas had 30,730,405 shares outstanding. By the end of Fiscal Year 2021 (2021-12-31), Atlas had 57,750,730 shares outstanding, 25,000 shares more than Fiscal Year 2020. The cash provided by the new shares allowed Atlas to acquire companies and equipment and to grow revenue from $11,597,000 to $55,000,000.
For Fiscal Year 2018, Atlas generated $11,597,176 in revenue and lost $4,951,765. Shareholder equity was $3,698,459 or $0.12 per share.
For Fiscal Year 2021, Atlas generated $54,998,000 in revenue and net income was $6,954,348. The profit margin is 12.6%. Shareholder equity was $19,812,643 or $0.34 per share. Shareholder equity per share has almost tripled over this period.
Atlas has used the cash from the new shares to boost revenue. New shares can have a positive effect on the Statements of Income, if the cash is used wisely. The results from Fiscal Year 2021 strongly suggest that Atlas management has done a good job of investing the money received from the new shares.
Atlas has demonstrated its ability to create shareholder value, however the market has not yet taken notice. Eventually, shares will trade at a higher earnings per share multiple and earnings per share will continue to rise. Current shareholders will be rewarded.
Since December 1, 2021, Atlas has repurchased 1,846,500 shares at an average share price of $0.57.