RE:New Press Release - Kontrol Technologies Provides Corporate UpdateTwo NRs in a day.. On fire! Selling Ortech Consulting for $6.6 million. Acquired in 2017 for $4.6 million and the business had $5.3 million in normalized annual revenues at that time.
Haven't wrapped my mind about the selling price being $2 million greater 6 years after the acquisition but at least it is greater. And raising some cash, to help pay some debts in a high interest rate environment is not a bad thing.
If it weren't for the BioCloud and Global fiascos and all the expectations of this being a company with hundreds of millions or billions of dollars in revenue, the story would sound prospective. But unfortunately those fiascos did exist and disclosures were abysmal. I can't see many shareholders that took a bath forgetting that, but those that profited may be looking for another go at it at these levels.