I personally am disappointed in the Qtr report Dec 2020. Sales for the Qtr 255k. Thats pathetic and I dont like the fact the board in the same qtr got paid $172k for the qtr. Expenditure for the Qtr standing at $2.34m so for every dollar spent we get about ten cents in sales. Thats pathetic. Imagine giving an entity ten dollars and they turn it into a dollar of revenue and paid themselves to do it and made a loss for shareholders doing it!. No good enough.
All the BS about ramping up sales efforts has resulted in sales going from $141k in the Dec 2019 qtr to $255 in the Dec 2020 qtr 12 months later. Thats terrible .
I hate all this patting on the back for customers commencing rather than sales delivered. It had a cash outflow of over $1m! You dont pat yourself on the back for losing money!
I had pictured that break even will be in 2021 but gee sales growth at that rate will spend all of the $20m that YOJ took from us shareholders to get to breakeven at that rate.
Lets hope for a much better march 2021 qtr where they have what they call whole counties of revenue. If they continue to use this spin of whole countries within clients adopting and the sales return is so low per country, this company is doomed and so are we as shareholders. The inference of using the term country gives an impression of large sales volume . I hope their term used was not just spin and their sales roll out results in sales that deliver profit. Note we are spending $2.34m a qtr so sales have to go up about tenfold just to get to break even. I hope this technology actually allows shareholders to recover their had earned investment. GLTAS.
I am a hold but gee they need to improve their performance .
YOJ Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
