Ann: Buddy Commercial Exceeds Target-Achieving EBITDA by end CY19, page-8

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DreadPirateRoberts

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24/12/19

11:36

Post #: 42116428
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Originally posted by supergwailoh ↑

Let me summarise this announcement, “we’ve failed again and mislead you all in 2019. In 2018 LiFx focus was revenue not margin or profitability. We bought the company knowing that but didn’t tell investors. Now we’re aiming for profitability at the expense of revenue growth and leaving significant doubt over the ability to have enough revenue to sustain ebitda profitability in 2020. We need this Indonesian telco deal to have a chance of doing that because we can’t do it through normal sales of lights, which we never have in stock on our website. At the moment we’ve got no tiles in stock on LiFx.com or the candle. We said we’d hit min 70% targets through natural growth. We mislead you all there. We need two deals of the likes the company has never done before to meet that target. We said we’d fixed the manufacturing restraints that meant we claim
to have turned down $10m of orders last year. Mind you that was what we were told by a company selling and trying my get the highest price. Don’t ask is for proof. Now DIY integration is mid 2020 so don’t expect any revenue from that anytime soon. The $60k we got has long been spent on billable hours and we’ll be $100ks down on integration costs before we have confirmed revenue. If we do. Hey but I’ve still got a job on $400k a year despite being a total failure.”

This release is a pathetic attempt to paper over the fact you got no where near 70% yoy growth. Sack him now or sect249D

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Last edited by DreadPirateRoberts: 24/12/19

BUD Price at posting: 2.8¢ Sentiment: Buy Disclosure: Held
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