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Microcap & Penny Stocks : AIRI - A Unique Opportunity in Value Stocks
AIRI 2.970-5.7%Dec 7 4:00 PM EST

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To: rdkflorida2 who wrote (175)4/4/2023 2:49:21 PM
From: ndxcharm1 Recommendation

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Seekingalpha has the call transcript

Very little details presented
53.2M for FY22 Revenue
13.85M for Q4
Raw material shortage/supply chain blamed for underperformance this quarter and full year

Bottom-line numbers not given, but can't be good. They said they booked $850k loss on an unprofitable product to be delivered into 2023.

Reason given for delayed filing is the move from small accounting firm to large accounting firm. This change caused process misalignment between company and how the new auditor handle things.

Expect inventory write-downs - and resulting non-cash expenses flow through the income statement and affect multiple accounts. Expect changes in accounting policy related to expensing old inventory. Seems like new auditors are not onboard with existing way of doing things.

I have to admit I went into this call with low expectations, but somehow still felt disappointed.

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