VSBLTY Groupe Technologies Corp C.VSBY

Q1 2022 Financials - Ouch!!

[dudu18]

$1.25 Mill in revenues. This is where the good part ends

$80k of that translated to cash recieved. The rest is in AR (Take the AR number from Q1 2022 and subtract the AR number from the end of Dec 2021)

This hardware is sitting on Winkle's balacnce sheet (Section 9). Winkle's revenue for Q1 2022 was a mere $1,722.... oy ve...

So VSBLTY invoices Winkle, and winkle doesnt invoice modelo... VSBLTY inflates revenue numbers and writes off bad reciveables in a few quarters. Maybe by next Quarter Winkle will start invoicing Austin GIS and the game of musical chairs will continue.

Also the note in Section 9 points to VSBLTY writing off almost $785k of the bridge loan that was extended to Winkle, as an impairment charge!

Check section 17 for more information regarding related party transactions..

So good revenue number, but over 90% of this number will not translate to cash.

Ouch!

[Jb2222]

Is their saas revenue growing or contracting?

[dudu18]

Even if 75k revenue is SaaS... for the quarter... It doesnt justify a 100 Mill valuation.   Also saw people discussing media revenue from winkle etc.. Winkle made $1,722 last quarter. Not sure what media revenue or SaaS revenue is being generated anywhere.. Check out Section 9 of the report for Winkel's dismal financials.

[MakingSense]

It's going to take some more stock coming at them to push back the market makers that are holding this at 50 cents to secure the next round of dilution. Can't go on ripping through money without topping up the tank because it's certainly not coming from sales. Is anyone asked a question about the corporate secretary, might want to pay attention. Loto Gopher, loto CSE. Kinda looked like