Lies, lies and Froggy shouting people down
If this isn't a wakeup call to the board to tell people who shout down anyone with a dissenting opinion to shut up and respect other people's opinion, this is it. Remember the calls for Dec and Jan numbers and I was told to shut up? You reap what you sow.
$583K sales in November suddenly turns into a quarter with only $469K sales? So for two months they only took stuff back or wrote off old debt, no sales? I think that actual sales were more like around $1 million (337k COGS at normal margins) and they had to write-off $500K+ in bad debt and returns.
Jan 18, 2022 - TAAT reported that 48% of sales for the quarter were wholesale reorders and 52% initial wholesale orders and e-commerce purchases. So only $230K were reorders? That's less than 10% from last year (as Chris and Tom both stated that everything got replaced prior to Oct 31). Even if the actual 'sales; were 1 million, you're at a 20% reorder rate. And for all the flying off the shelves comments, 20% of a consumable product is just not that good.
Why aren't people paying when the product is so good now?
And who can trust Setti and his gang, Tom, Chris and Rig? Keep the cheering in the name of DD, etc., you were all dead wrong about Setti. The change in tone, demeanor and lack of PR consistency told the tale.
This is a less than two year old company we keep getting told, so what market research and real product development have they really done? Obviously they are just throwing it up against the wall and see what stick. We are all catching what doesn't stick, and losing our shirts as a result. A paper loss is still a loss, and these are steep.
Tim left because he saw the writing on the wall, everyone else was blinded as well. And I would have to guess that the recently departed sales manager had a lot of skeletons in the closet that came out in these numbers. Too many coincidences lead to the truth, this ship is sinking.
Glad I got out of most of my position this week. Good bye and good luck, you are all going to need it. Especially Larry, I'll bet he was counting on this and he bought your words hook line and sinker. To anybody with a heart, go to the TAAT FB page, find Larry and offer support, he's going to need it since I am guessing that be bet the farm here. Again, good luck and good bye.