Here we areWaiting for some clarity as to what this thing will look like after the Global demise is cleared from the financial records.
Many putting on a brave face as if the sub-40 cents is crazy low. For a company whose book value as per latest financials is negative $44 million. Shareholder equity $44 million below zero. For a company whose full fiscal year results before the Global acqusition were just north of $12 million.
But, hey, let's forget about BioCloud and Global fiascos. Everything beyond those is well managed so this is a great deal, some folks' narrative says.
Still don't understand how $28 million in provided and billed products and services to companies related to buildings become uncollectihle from Sep to Dec 2022. Did all of those clients declare bankruptcies or are going that way after September 2022 (allowance for doubtful accounts just under $250k)? I did not realize it was so rough out there for companies in building businesses. Absolute real estate collapse that I was unaware of. If someone has an explanation, I am all ears.
It will take a couple of quarters to start seeing the new baseline picture IMO. GLTUA.