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Bullboard - Stock Discussion Forum Bewhere Holdings Inc V.BEW

Alternate Symbol(s):  BEWFF

BeWhere Holdings Inc. is a Canada-based mobile internet of things (M-IOT) solutions company. The Company is focused on designing and selling self-powered hardware with sensors and software applications. The Company develops mobile applications, middleware and cloud-based solutions that stand-alone or that can be readily integrated with existing software. Its solutions serve two markets, such as... see more

TSXV:BEW - Post Discussion

Bewhere Holdings Inc > Operating Expenses increasing faster than sales/revenue/GM
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Post by hrgoyal on Apr 17, 2023 11:21am

Operating Expenses increasing faster than sales/revenue/GM

Quaterly Results       
                      Product/Hardware/Software    Service    Recurring Fee     Total        Net Profit/Loss


21Q1                         0.98M                              14K         0.73M               1.73M      -  39K
21Q2                         1.63M                              18K         0.64M               2.28M      +130K
21Q3                         1.66M                              17K         0.74M              2.42M      +145K
21Q4                           1.32M                            18K         0.76M               2.11M      +177K
22Q1                           1.42M                            135K        0.81M               2.37M      +16K
22Q2                         1.78M                              47K         0.90M               2.73M      +154K
22Q3                         1.55M                              57K         1.04M               2.65M      +216K
22Q4                         1.10M                              60K         1.12M               2.28M      +140K
 
1.56M is deferred income tax in Q4 taking EPS at 2C for 2022 FY
 
The yellow flag is Operating Expenses increasing faster than sales/revenue/Gross Profit or any other parameter
 
Operating expenses, three months ended December 31, 2022, were $829,602 which is an increase of $317,699 or 62% from $511,903 of the same period in 2021.
 
Operating expenses, for the twelve months ended December 31, 2022, were $3,124,968, an increase of $1,284,437 or 70% from $1,840,531 for the same period of 2021. This was mainly due to Research & development expense of $512,388. Development costs did not meet the criteria for capitalization in fiscal 2022. The Company restarted its marketing activities and spent $178,313 in fiscal 2022 as compared to $59,311 for the same period in 2021. The increase is also due to salaries expenses associated with business scale up and moving costs.
 
More to follow
Comment by hrgoyal on Apr 17, 2023 12:02pm
Salaries and wages                1,387,402 in 2022 vs  998,320 in 2021 a 40% increase   For the twelve months ended December 31, 2022, the Key Management of the Company were paid salaries and consulting fees of $704,173 (2021 - $633,750). 10% increase The aging of trade receivables as at the reporting date, based ...more  
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