Financials ending Sept 30thCurrent assets including investments $12.2 million
Current liabilities $ 2.4 million
Cash and equivalents at end of peiod $8.7 million. Lots of entries regarding cash flow from operations that effect the differential between current assets and liabilities but part of the change was exploration costs, purchase of property and equip etc: etc:
Shares outstanding 113 million.
On to the meat.
Terralogic reported revenue of $2.049 million for the quarter that's only 50% of what was reported same time last year. Gross profit was $400k. Take away Admin, Trade shows and operating profit was $50k. Take away depreciation and we're left with $32k.
Once other items are added in to the formula which totaled $67k (other income, investment income, less unrealised losses on investments held) we get comprehensive income for the qtr of $99k.
That brings the total income for the 9 months to $646k. Remember that total was bolstered by gains on the sales of investments.
So is Terralogic a profitable subsidary, basically the answer is just about. . Would it make more money as a stand alone entity, yes, but then EPL would be posting bigger losses. SO basically the two go hand in hand.
The biggest takeaway is..... last year geological services reported a huge revenue jump of $15.4 million for the first 9 months of 2022 but this year it's fallen to $9.4 million. WHY ?? The change seems really extreme.
Bank and term deposits are lower from the same period of 2022 which were $10.3 million and are now $8.7 million. Exploration costs, trade shows etc: etc:
Nothing really stands out in these financials, the company is just chugging along. Looks like a discovery from optioned property or there own is what to look forward to before the annual report, but then again winter is coming.
Dec Gold closed today at $2,045. Apparently there's a big movement gathering steam to stop the shorting of penny stocks, it's long overdue. The fact they allow any stock in this sector struggling to raise financing and trading under $1 to be shorted is mind blowing. But that's IROC and the Venture. The venture exchange talk a lot but action is rare. JMHO.