Elon made the quarter because of Enel. non-Enel revenues declined again, despite a 100% revenue increase from outdoor lights .... .must have been an increase from $100K to $200K?
Elon is now 2 1/2 years into their legacy migration program. Results seem to indicate that IzoT / FT chip cannot outbalance the decline of their legacy LonWorks. Why? Why can't their integrated Bacnet and IP support capitalize on 120M++ LonWorks devices out there? I am sure you'd be in a position to tell us what's wrong on this front.
Elon is a 65c stock now, so unless Sege really can't find a way to pull his head out of the sand, we may be lucky to get that amount, or even a bit higher. At the Q2/15 run rate, yearly G&A + Marketing/Sales amounts to $18.4 M yearly. The buyer could likely cut that by half, and the rest is in positive territory.
With lots of luck, Goldman finds a company that would invest in ELON's engineering remnants and build a real IoT company around it.
- Pursuit and evaluation of financial strategies (partnerships, recapitalization, sale, stand-alone, etc.)
- Strategic Committee of Board of Directors
- Engaged Goldman Sachs
- Intend to enact a 1-for-10 reverse stock split prior to December 22nd NASDAQ deadline