Comment by
Ciao on Dec 28, 2023 8:28pm
I guess I was a bit too optmistic with rev. of $8M as it came in at $7.3M and thus net income for the year was $400K less at $2.9M vs my $3.3M estimate. Seeing that Q1 2023 rev were $4.9M, Q1 2024 could be about $10M so there is more good news to come. I didnt't see anything new in the MD&A, I guess that is where we need Cameron to fill us in with a new interview.
Comment by
KeepYoKidsSafe on Dec 28, 2023 8:55pm
Not blown away but not disappointed in the slightest. Nice top and bottom line growth YoY. Not expecting any share bounce off of this but the balance sheet looks extremely lean - in a very good spot Initial browse through MD&A didn't yield any suprises from my POV. Going to fine tooth comb tomorrow.
Comment by
Ciao on Dec 28, 2023 9:03pm
This is the 3rd consecutive quarterly profit and if you look at the last 5, only one was slightly in the red. Will investors or institutions wait for 4 consecutive quarters of profit before jumping in? Given they are in holiday mode or on holidays they might have to wait till the new year, or they may wait for Q1 2024 in a month?
Comment by
KeepYoKidsSafe on Dec 28, 2023 9:18pm
Remember Doug telling Cameron at CSI he was extremely excited about F24 Q1. Beautiful thing is we won't have to wait long to find out! Let's start it off with a 10 mill quarter, shall we?
Comment by
Ciao on Dec 29, 2023 9:12am
Minor correction, Doug said he was more excited about 2024 than 2023, though we believe Q1 itself could start with $10M rev.
Comment by
KeepYoKidsSafe on Dec 29, 2023 9:15am
Thanks for clarifying - I wanted to go watch the video again for the exact quote but alas...
Comment by
Ciao on Dec 29, 2023 9:37am
CSI available on Rumble.com now, https://rumble.com/v3i7zkt-gatekeeper-systems-news-release-and-update-from-ceo.html
Comment by
ramman1 on Dec 29, 2023 9:23am
Yes: Looks like the CEO also believes Q1 to be strong . As I read it ,he has selected to take all of the $ 1.120 000 bonus money (owed to him) in one lump sum in this Q . A hit on the bottom line this Q .----------(Subsequent to Aug 31/23 ,CEO received 1.120 mil bunus money with 0 balance now owing ). That's what I read, someone clarify ?
Comment by
KeepYoKidsSafe on Dec 29, 2023 9:26am
Not exactly sure of the accounting but given it was accrued in fiscal 2023 wouldnt it just be a B/S activity and not hit the I/S in 2024?
Comment by
ramman1 on Dec 29, 2023 9:32am
(Subsequent) AFTER Aug 31/23 . Looks like it goes on the Q1 /24 books .. ------2023 for his personal reporting of tax income .
Comment by
KeepYoKidsSafe on Dec 29, 2023 9:34am
It says the bonus was accrued in the year ended 2023. Again, not an accountant but generally that means it already has been expensed and exists as a liability on the books. When paid cash down and liability down.
Comment by
KeepYoKidsSafe on Dec 29, 2023 9:35am
Accrued in the 2023 fiscal year ended Aug 31* To be clear. It's on the balance sheet as a bonus payable.
Comment by
Ciao on Dec 29, 2023 10:07am
The bonus is to be payable over 5 years (ending Sept. 2025), so it is likely to be spread out over the next 2 years. Doug will not want to see one large hit in a quarter, so it's unlikely to be paid out in one lump sum say in Q1, 2024.
Comment by
ramman1 on Dec 29, 2023 10:36am
Wording says that it bonus of (1.120 mil) was paid out and the amount owing is now (NIL). That also includes interest at 4 % that had been owing .
Comment by
Ciao on Dec 29, 2023 10:41am
Yeah, I believe you are correct. Perhaps he just wanted to get it out of the way so it would not be drawn out affecting the quarterly results for the next 8 quarters or so.
Comment by
Ciao on Dec 29, 2023 11:04am
It doesn't affect the fundamentals of the business which look great. Investors will look beyond this. When Doug talks about the 50K mobile data collectors out there and the layering of revenues with SAAS you have to get excited as he sees the transition to a data services company finally coming on strongly.
Comment by
LMWawa on Dec 29, 2023 10:37am
The bonus payable of $1,120,000 was restated in the YE F2021 FS and carried on the BS. The subsequent event for F2024 Q1 will impact the cash - resulting bal now being nil.
Comment by
ramman1 on Dec 29, 2023 9:29am
Another little feature I like on the receivables side,which has been reduced by 18%.----- ALL (NON -government receiveables are now fully insured).--I had not seen that on previous reports. -----Technically we have nothing to worry about should anyone fall into arrears in payments. Governments are very slow in repay ,however thier payments are usuall considered very safe.