Q: Based on your previous answers for tantalus systems GRID can you you please give your opinion on the recent earnings and the company and industry going forward. Has Pender increased their holdings or decreased in them and is there any other big investors invested in this stock that are noteworthy?
5i Research Answer:
Sales of $15M were 13% higher than estimates; loss of 2.7c per share was better than the 4c loss expected. GRID reported strong Q2 results that were above expectations, due to organic growth and a substantial software license sale. The Congruitive software side of the business is gaining traction with several ongoing pilot programs. GRID added five new utilities in the quarter, bringing the customer count to 283. In June, it received a $7.0M loan from Export Development Canada to commercialize its next-generation TRUSense gateway. Production should begin in late 2023. Its small size and negative cash flow still add substantial risks, but for the quarter itself the results look fine.