That was a sneaky little release of quarterly just prior to 4pm.
- Happy to see cash has only reduced by $229k for the quarter which is a big improvement. Overall negative revenue on non-mining related of -$131k looks ok on face value. - Expenses have remained fairly similar to previous quarter and I assume increase in COGS would be due to Bitcoin Purchase. - Govt grant is a good booster but this is and annual payment similar to 2013 so they will need an increase over this current quarter to avoid higher cash burn in the next quarterly. Back this out of non-mining revenue and position would be -$502k which would not have been so positive - INteresting that more detail has been added around the mining tenaments compared to previously. - Still not clear on the core business growth external to Bitcoin as everything is tied into one revenue figure yet again with no commentary of Mylife activity. This remains a concern to me from longer term perspective but Bitcoin is doing the trick for them at the moment so can't complain. I just have my concerns the the bitcoin revenue which is temporary is overshadowing mylife performance
Will be interesting to see the Jan monthly update as I feel that the true growth momentum will become clearer from this one.
I feel it is a reasonably quarterly and bigger picture will become clearer soon. Really need to see some stronger growth in Mylife in my opinion, but Bitcoin will buy some time
SMA Price at posting:
2.6¢ Sentiment: Hold Disclosure: Not Held
