RE:RE:RE:v-g " I am not short. " I am not long"Further to MG87's comment on vg's motivation, remember vg stated in an earlier post:
And the new management team just lied to investors on the first call. Guided towards flat EBITDA margins, but instead of 9% margins, they collapsed to 2%. How can you believe them now?
What vg prefers to call a LIE, others may choose to call an EXPLANATION. The call transcript addresses both the EBITDA and revenue numbers relative to the Q4-21 "directional guidance" for F2022. The new management has yet to earn the "liar" moniker imo: "One is that there is seasonality in IRD's Q1 due to regular delays related to winter weather. This can impact project implementation and related billing and we saw some of that and in Q1. We see IRD is picking up in Q2 and into the second half of the year as we enter the stronger seasonal periods. IRD already also had a project which certainly costs we're recognizing Q1, while related revenue will be recognized in Q2 and Q3.
At ETC, certain new project implementations ramped up a bit slower than expected in Q1, but again, nothing that we don't see as picking up during the remainder of the year. We're definitely not talking about any lost opportunities in any way.
As an example, in one case, a customer decided to begin implementation on a series of smaller tolling lanes first, rather than starting with a larger portion of their road network, which had been originally planned. It doesn't alter the scope of the project, just the timing of the work and the receipt of the implementation revenue associated with each set of lanes."
The Q1-22 EBITDA was 2.65%. The difference between 2.65% and 9% EBITDA in Q1-22 is CAD ~$2.4M - a plausible amount relative to the comment above.
To further illustrate vg's sliminess, vg decides to round down to 2% because it suits his purpose - and in so doing understates the percent by 25%. LOL.