IMO, they will not miss revenue, however, the growth will not be as large as past qtrs or yr over yr. The growth will be almost flat. If you work the guidance numbers reported last qtr the company should show approx. a 1 cent per share GAAP profit for 3rd qtr.
"Now, moving to guidance for fiscal 2016. Given the strong performance in Q2, we are raising our annual revenue guidance to between $32 million and $34 million for our fiscal year ending September 30, 2016. Our guidance is based on continued growth in mobile deposit, as well as contribution from our mobile fill and mobile verify ID products. We are also reiterating our expectation of non-GAAP profit margin of at least 20% for the full fiscal 2016 year.
We expect Q3 OpEx, excluding acquisition related cost and expenses, stock compensation and litigation costs to be between $6.5 million and $7 million. As we previously stated, this guidance reflects our increased investments in sales and marketing to drive adoption of our ID products, as well as our continuing efforts to add more top talent to our world class software engineering and scientific teams. We expect Q3 acquisition related cost and expenses to be between $500,000 and $600,000, Q3 stock compensation expense to be between $900,000 and $1 million and Q3 IP litigation cost to be between $100,000 and $200,000."
Wake up Stevie, that was a CYA guidance. A 20% non-GAAP profit margin is 1.6 Million on approx. $8M earnings. Approx. $8M earnings is a flat qtr after qtr result. Now, year over year qtrly will look great. However, it might be about $8.9M.
IMO, they have already done the "Peter to pay Paul" scenario. Going to be a tough quarter what with new hires, SBC, legal, Acq costs, limited additions for new products, etc. But, there will be excellent comparison to year over year quarterly results and additional patents.
Is there overriding reasons why this group does not migrate to the TCP.TC or the TCPTF message board? I can understand that the TCPTF message board could be a temporary stock symbol. However, the Toronto Exchange would be the last bastion if things were to go completely south. IMO, it seems like this group is restricting their thoughts, analysis, and opinions to a limited audience.
We note that your overview, which is substantially identical to the business overview as well as the MD&A overview in your Form 10-Q filed February 5, 2016, focuses on industry trends and product offering descriptions. The MD&A overview should not merely duplicate disclosure in the business section and generally should not remain static from one period to the next. Rather, the overview should provide an executive-level discussion of the most significant matters with which management is concerned in evaluating your financial condition and operating results. It should also discuss material opportunities, challenges and risks and how management is responding to those concerns during the relevant period. In this regard, we note your discussion in your 2016 first quarter earnings call, for example, that you expect your Mobile Verify and Mobile Fill solutions to exponentially expand your addressable market, drive higher average selling prices, and increase revenue. Please confirm that you will provide conforming disclosure in future filings. Refer also to your responses to staff comments 3 and 4 in your letter dated February 16, 2011.
Response: The Company confirms that it will provide conforming disclosure in future filings, and acknowledges its responses to staff comments 3 and 4 in our letter to the Commission dated February 16, 2011. The Company has recently added additional resources, including the appointment of general counsel, with experience and expertise and will provide conforming disclosures in future filings.
Interesting, the SEC gave an example of Management's Discussion and Analysis of Financial Condition and Results of Operations Overview, page 22. The SEC gives this example.....
" In this regard, we note your discussion in your 2016 first quarter earnings call, for example, that you expect your Mobile Verify and Mobile Fill solutions to exponentially expand your addressable market, drive higher average selling prices, and increase revenue."
If one listens to the Mitek webcast it appears that Jimbo said the following at about the 4:35 minute mark.............
"Our new ID products exponentially expand our addressable market and will enable us to drive higher ASP's, while also increasing our mix of recurring revenue thru the cloud"
Not sure why or how the SEC focused on this example.
The other Points discussed were:
Point 2 - Summary Compensation Table for Executive Officers (of lack of)
Point 3 - Certain Relationships and Related Transactions under 404(b) - Looks like a related party and/or the company did not follow procedures.
The proposed business combination will be effected by way of a plan of arrangement completed under the Business Corporations Act (British Columbia). The Arrangement will require approval by 66 2/3 percent of the votes cast at a special meeting of Thompson Creek shareholders. In addition to shareholder and court approvals, the Arrangement is subject to applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature.
The Arrangement Agreement includes customary provisions including non-solicitation provisions, including a US$35 million termination fee payable to Centerra under certain customary circumstances.
Ultra, please sell your shares. You do seem to know the intricacies of mining, give you that. However, your niave when it comes to forms of Bankruptcy. I always wanted to own a Gold Company.
The present deal or arrangement has a very small chance of being changed or modified. But, It could get a no vote by 34% of holders or the court could consider the deal unfair. However, bondholders should consider selling while the deal is still on the table. Yes, selling now does reduce the profit, but consider what happens if the deal is changed or stopped. The same goes for any stockholders that were fortunate enough to have doubled down at the appropriate price. JMO
There are several disadvantages to a Plan of Arrangement
First, it leaves the company open to a Competitive Bid.
Then, the fairness hearing may be used as a forum for challenge by the security holders.
Also, the complainants can appeal the Court Order creating delays.
Plan of arrangements must be approved by the court in a “final order” after considering the fairness of the arrangement to the affected shareholders. Most plan of arrangement transactions also involve the target company applying for an “interim order” that provides for a meeting of its shareholders to approve the plan of arrangement.
While there is no assurance that the court will approve a plan of arrangement, it is uncommon for a plan of arrangement not to be approved by the court, where the plan of arrangement has been approved by a substantial majority of affected shareholders. Although shareholders that wish to oppose a plan of arrangement are entitled to attend the court hearing and argue it is unfair, and that does occur from time to time, much more typically court applications are not opposed.
An out of the blue comes another longtime member with a new handle showing similar characteristics (name in the handle, new ID, indicating the deal is good for shareholders, thumbs up) Wow! Some coincidence. Do, what you think? Is this a pace horse? :)