"I also want to comment briefly on one element of our SG&A expenses in Q1, a non-recurring cost for a strategic initiative. This initiative involve a well-renowned technology company in the midst of a turnaround, which we felt have the potential to significantly impact our business. While we ultimately were unable to reach an agreement on key terms, going through the process was a great learning experience."
I am not clear on what "reimplementing sites" meant. Did it mean upgrading the units to the VAC4? Did it mean retraining on site folks how to use Analytics and all the new stuff? Did it mean removing local servers and having them connect to the IDSY Cloud Server instead?
They did not give specifics. Very unclear CC. More questions than answers
Profitability is out of the question this year in my mind.
05/08/15 Update IDSY ($7.05, Buy; $9.00 PT): Revenues Beat but EPS Miss; Near-term Margin Headwinds Lower FY ’15 EPS Expectations; Transitioning to Profitability…
Norm should not be allowed on these calls. He literally sounds like a moron. Old, confused, easily flustered. Kind of like an 85 year old man.
13.1M shares outstanding according to SEC proxy. 12.8M were outstanding end of March. So Jagid definitely exercised his options and the company got over $1.3M in needed cash.
Like I said, Jagid is getting the last laugh here. Never thought I would say that.
How can two guys from Stanford be so stupid? do they not teach any common sense in that school?
"We deliver to our clients an advisory approach that draws upon our strengths in providing strategic and tactical expertise, critical industry knowledge, and our experience as the “advisor of choice” in technology M&A."
Clearly, there was a bid for the company and it was refused.
Pursuant to the terms of an engagement letter (the “Engagement Letter”), dated January 23, 2015, the Company engaged Atlas Technology Group to provide the Company with financial advisory services. Atlas Technology Group is a privately held company of which one of our directors, Tony Trousset, serves as the Managing Member. Fees payable to Atlas Technology Group under the Engagement Letter were based on the outcome of any project that resulted from the rendering of its services. The Company terminated the Engagement Letter on April 29, 2015, and as of such date, no fees had been paid under the Engagement Letter. Notwithstanding such termination, in the event certain projects are completed prior to April 29, 2016, Atlas Technology Group will be entitled to fees based on the outcome of such projects. Our policies and procedures with respect to the Engagement Letter were followed.
BTW - If SOW #3 extends a non-compete or extends the life of the warrants, I will kill someone. Jagid and the entire BOD was fired for this. Jagid is probably sipping some cognac and smoking a cigar with a large smile right about now.
Avis tech folks are the absolute worst. I guess IDSY guys feel smart being around those Avis dummies so much. That Avis needs IDSY to develop their systems does not bode well for Avis. Only a moron would invest in that company.
Take out the one time stuff and normalize the SaaS sales and they grew 10% last quarter. All their competitors are growing at 30%. They are losing market share. They are falling behind. Cash is getting low.
They are cutting costs on things now. Mentioned VAC4, shipping costs, travel. Next is headcount. I'm telling you headcount cuts are coming. The process people should be the first to go. Too many managers and not enough doers.
They said $1.6M in new SaaS model. Last quarter had $1M so this quarter had only $600K. Where are all the new sales Norm promised by discounting the product?
Even adding in $600K for SaaS and taking out $1.1M to WalMart, sales were up less than 10%. Everyone else is growing 30%.
these guys are all just too greedy. Jagid probably wanted $20/sh. Ehrman was probably asking $15/sh. I would bet someone offered $10 and they turned it down.
It is evident this guy only sees the TAMs product and isn't looking at the VMS product. VMS sales were disappointing last quarter. How can they have come out with such a rosy prediction in the first week in March? TAMs is low margin and has a lot of competition. competitors are willing to discount and/or give away their TAMs product. I don't want to be in that market at all.
3% growth ex-WalMart one time spare parts order is a joke. IDSY 2.0 has apparently been a waste of money