Key Third Quarter and Subsequent Highlights
- Revenue for the third quarter of fiscal 2022 increased 964% to $48.2 million, as compared to revenue of $4.5 million in the same year-ago quarter.
- Secured lease agreement with Mohave Farms, a tier-1 multi-generational agriculture operator, to build and operate a $36 million micro-grid project for a 20,000 acre farm near Kingman, Arizona.
- Partnered with Heartland Construction, a national alternative energy developer, to provide electric vehicle (EV) charging station installations for Heartland solar projects.
- Formed a strategic partnership with Storm Ventures Group ("SVG") and SVG University to educate contractors within the SVG network on the benefits of adding solar to their service offering via USA Solar Networks, a member of the SIRC family of companies.
- Partnered with the Founders of RxSeedCoin, a cryptocurrency asset listed on the Stellar Exchange, to develop a cryptocurrency funding solution for humanitarian commercial solar projects.
- Appointed an experienced executive team to support the Company's rapid growth, including veteran finance executive Wanda Witoslawski as Chief Financial Officer, industry executive Pablo Diaz as President and respected operations executive Dr. Philip Yin as Chief Operating Officer of SIRC subsidiary, USA Solar Networks.
- Appointed renewable energy finance executive Héctor Peña to the Board of Directors.
- Initiated targeted program to realize significant cost synergies across the SIRC family of companies, creating a shared corporate infrastructure to lower costs and improve operating efficiency.
- Entered into a $42.0 million equity purchase agreement with Arbiter Capital LLC to be used for share buybacks, acquisitions and to invest in continued organic growth.
Management Commentary
"The third quarter of fiscal 2022 was highlighted by record revenue of $48.2 million, driven by seamless integration of our rapidly growing, high-margin acquisitions and our evolution into a truly national brand," said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. "The rapid pace of our acquisitions, partnerships and organic sales growth has enabled this incredible record revenue achievement, and we ai
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Both 2020 and 2021 were shit shows. 2022 will be a recovery year. Anyone looking back at your performance as a hedge fund may give you a "pass" for those years. When trying to get new customers they would show their performance and say "we average 20% rate of return on investment...except those two pandemic years. We don't count those" and anyone hearing that would nod their head and say 'yes.. of course you can't count those years. That was an exception'. With many HF ending their 2021 fiscal year on Dec 31, there's a lot of pressure to make 2022 look good.
Now look what happens if they let these shorts drag into 2022.
If they feel they might lose, it would be in their best interest to put those losses down in 2021 where they can just be waived off as a "pandemic exception".
But if they feel they may win and have the shorts pay off, they would want that payoff to be in 2022 in order to put that profit into 2022.
I think some of the smaller HF will begin to cover before end of year to get that liability off their books... But the big guys are much too stubborn. And their pride is involved because we made it personal. They will try to hold. But if anyone has lined up dominos, we know all it takes is the first one to fall to topple the rest.
The fiscal drag on GDP due to the drop off from fiscal spending from the previous year will contribute negatively to government spending, meanwhile higher rates could slow residential investment and consumption.
I just read the entire document and want to point out some things.
- Some here are celebrating that the game did not make 'a lot of money'. That is not only not what the document says, they note a few pages later that their HD Games division still increased net revenue and had a good return on licensed products.
An example comparison, a recent fiscal year that saw the HD Games division headed by Kingdom Hearts III, Octopath Traveler, Shadow of the Tomb Raider and Just Cause 4 made less money than Avengers and FF7 Remake.
- 'Disappointing' is a very nonconclusive word to use in the business world and I for sure think some people are latching onto it too readily.
Remember that what you're reading here is basically an update to the people that invest in the company. Those same people read news and monitor fan feedback. (this is one of the reasons I have tried to point out that if you like the game and 'want to see it succeed', you're being counterintuitive by creating the impression that they don't care and can do no right...it's harmful).
The game launched with more bugs than they wanted is one of the only conclusive things we know.
Disappointing could simply mean the team is off-schedule. It could mean the investors had a talk at a meeting about the earnings potential of the license and it hasn't reached those heights for various reasons. It could mean a lot of things. It isn't fair to try to be definitive here.
Remember the audience this is written for.
-
That said, I think the things you can come close to conclusive on in that blurb is that Crystal Dynamics was for whatever reason not best equipped to either develop the game or respond to incoming challenges. This could be because CD was less prepared than other companies to work from home for instance. SE possibly underestimated the size of team that GaaS requires. Again, we can't be definitive.
-
Despite all of that, the report still notes Avengers alongside FF Remake as heading the HD Games sales, even presenting them on the first page of content for investors. That's actually a vote of confidence. They aren't hiding the game or shying away from it.
Again, remember the audience. This document is to show the investors that what you're doing warrants their trust and involvement. You don't put a game you've lost faith in in that sort of position. -
Square Enix is fairly notorious in the gaming world for having 'disappointments' because they have a habit of overhedging
a figure that accounted for 93% of all the assets seized by tax enforcement that year, and the agency's head said today they could seize cryptocurrency valued at billions of dollars that’s linked to tax fraud and other crimes in the coming year.
Key Third Quarter and Subsequent Highlights
- Revenue for the third quarter of fiscal 2022 increased 964% to $48.2 million, as compared to revenue of $4.5 million in the same year-ago quarter.
- Secured lease agreement with Mohave Farms, a tier-1 multi-generational agriculture operator, to build and operate a $36 million micro-grid project for a 20,000 acre farm near Kingman, Arizona.
- Partnered with Heartland Construction, a national alternative energy developer, to provide electric vehicle (EV) charging station installations for Heartland solar projects.
- Formed a strategic partnership with Storm Ventures Group ("SVG") and SVG University to educate contractors within the SVG network on the benefits of adding solar to their service offering via USA Solar Networks, a member of the SIRC family of companies.
- Partnered with the Founders of RxSeedCoin, a cryptocurrency asset listed on the Stellar Exchange, to develop a cryptocurrency funding solution for humanitarian commercial solar projects.
- Appointed an experienced executive team to support the Company's rapid growth, including veteran finance executive Wanda Witoslawski as Chief Financial Officer, industry executive Pablo Diaz as President and respected operations executive Dr. Philip Yin as Chief Operating Officer of SIRC subsidiary, USA Solar Networks.
- Appointed renewable energy finance executive Héctor Peña to the Board of Directors.
- Initiated targeted program to realize significant cost synergies across the SIRC family of companies, creating a shared corporate infrastructure to lower costs and improve operating efficiency.
- Entered into a $42.0 million equity purchase agreement with Arbiter Capital LLC to be used for share buybacks, acquisitions and to invest in continued organic growth.
Management Commentary
"The third quarter of fiscal 2022 was highlighted by record revenue of $48.2 million, driven by seamless integration of our rapidly growing, high-margin acquisitions and our evolution into a truly national brand," said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. "The rapid pace of our acquisitions, partnerships and organic sales growth has enabled this incredible record revenue achievement, and we ai
... keep reading on reddit ➡