AIRI - A Unique Opportunity in Value Stocks Message Board

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Microcap & Penny Stocks : AIRI - A Unique Opportunity in Value Stocks

AIRI 5.260

-2.4%

Oct 8 9:30 AM EDT

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To: rdkflorida2 who wrote (175)	4/4/2023 2:49:21 PM
From: ndxcharm	1 Recommendation Recommended By rdkflorida2 Read Replies (2) of 240

Seekingalpha has the call transcript seekingalpha.com 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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