Ann: Quarterly Report, page-14

What is interesting is DW8 buying the NDC & then they will flip it for a profit with lease back arrangement.

Apparently had an option to buy in the lease agreement most likely for an agreed price.

The $3.04M revenue includes about $21k B2B fees thus $3.019M / 213,159 cases = $14.16 per case average for logistics.

Pro-forma for the quarter with full 3 months Parton's is about 313,000 cases x $14.16 = $4.43M x 4 = $17.72M.

Was meant to be $1.5M DW8 + $3.75M Parton's pro-forma = $5.25M x 4 = $21M as per the recent Kaddy Investor Presentation.

313k cases x 4 = 1,252,000 pa current run rate.

PMOC indicates a healthy 38.9% gross margin. Cash burn ratio reduced significantly to 0.71 x revenue.

Where's the big names? Why is pro-forma only $4.43M when it should be $5.25M?

We'll wait & see what the market thinks on Monday.