Datametrex AI Ltd V.DM

Update on news

[knoxt]

Datametrex Reports Smaller Q3 Loss of $451,000 as Revenue Improves on COVID Test Kit Sales

 

25 Nov 202013:24 ET

 

01:24 PM EST, 11/25/2020 (MT Newswires) -- Datametrex (DM.V) reported a 35% improvement in its net loss figures, from Q3 2019's $(696,000), to Q3 2020's $(451,300).

Quarterly revenue jumped 189% YoY, to $4.86 million. Datametrex started securing and delivering purchase orders of COVID-19 test kits and generated $2.3 million COVID-19 related revenue in Q3 2020, the company said.

Its cash position also improved significantly to $1.4 million, compared with $119,675 at the end of 2019.

"In Q3 2020, the company achieved multiple key milestones, a significant increase in gross revenue and improvement in its cash position. This positive outcome was a direct result of our quick response in implementing a plan to begin selling test kits as result of the global impact of the COVID-19 virus. This resulted in a substantial improvement to the bottom line," said CEO Marshall Gunter.

Price: 0.11, Change: -0.02, Percent Change: -12.50

[Kensin1954]

Heading the right direction. Had they put through everything they are working on that would have been +$500K  not negative and DM would be sitting at $.40c CDN. Like PETRO says maybe next quarter. I guess it does not help that SONA pulls their submission and the stock drops 66% on the same day, What is going on at MIR  are they sitting on an approval?    JMHO

[Resilience19]

I remain confident the sp will, eventually, tick up to a more reasonable valuation. This said, I am rather unimpressed with today's numbers. Granted, they're decent but, in my opinion, significantly lower than expected. Given the past months rhetoric coming from DM management, without wanting to sound unduly harsh/critical, I'd say they've over-promised and under-delivered, based

[mrmonopoly]

Agreed on all fronts. Underwhelming results overall, especially based on the hype from mgmt at the AGM. I can't bring myself to sell until there's conclusions on: 1) OTCQB listing 2) SMART release 3) $40M co-bid contract 4) Allied Command meeting I can wait until Q4, but I can appreciate many investors can't. Tax loss selling is going to hit this hard if there isn't news related

[Mario79]

I agree with you Resilience. With all the rhetoric coming from DM the investment/shareholder community was expecting stellar not tepid financial results. Having said this i am an accountant and reviewing the financial statements and re-reading prior news releases not all the revenues have been recorded. This is significant. Why? In accounting the financial statements have to be prepared using

[TheBigW81]

Pretty much what i posted today. We are getting a better balance sheet each quarter. That is a big thing to overcome and we are doing it. I see us with a positive working capital next quarter results.

[Kazam1961]

Thank you Mario, your professional insight is well appreciated. Investor's are better prepared and educated with this type of insight. Remain patient and reasonable in our efforts...Peace to all...

[Pandora]

Could be worse -- see SONA and their antigen rapid test that was supposed to revolutionize the testing process and establish a good foundation for rapid testing. First the FDA dismissed them a month ago saying they were "deprioritized" which the market mostly brushed aside indicating it was more of a U.S. protectionist approach. But now, in Canada -- "Based on feedback from the