Time to look at the last financialsBeen a bit tardy, very busy these days:
Period ended June 30th.
Cash and cash equiv $7.8 million
Including accounts receivable, investments & assets total book value $15.7 million
On to the Terralogic accounts:
Revenue for the qtr $2.9 million, that was over $1 million higher than the previous years qtr.
But operating loss was $43k.
So basically they're still fighting with their margins. Need to be reporting a gain on that line !!!
Other items including interest on investments, gain on shares held, gain on shares sold was $308k
This all led to a profitable qtr of $193k or 0 cents per share.
In a nut shell Terralogics cost of services vs total revenue is still too high. Which comes back to margins on services rendered, in other words they need to raise prices or slash costs.
It's great they are still holding that strong cash position and earning high interest, I would expect as investors return to these markets that their holdings in other companies will gain in the following months. Basically Terralogic is footing the bills for EPL to continue optioning and claiming new properties. It's a good strategy but not really increasing cash flow at this time. Which is probably why the share price is stuck at 10/11 cents.
Total shares outstanding 115 million.
I remain long, have not sold any shares, either waiting for Terralogics revenue to grow further or an optioned property or one they hold, makes a large discovery. it's happened before.
Shareholders need a catalyst to light a fire under the price, what will it be ?
On a side note the spin off ER (Eagle Royalties) is also stagnant at roughly the same price.
For those who still hold shars in both then we're basically sitting at about 15 cents where EPL was before the spin off happened. NO movement.