Unless they have come up with a different handle, the guys humping GSBC did not manage to list on the NASDAQ over the counter board today, as an enthused salesman told me last week was going to happen.
Well … now where am I supposed to spend my life’s savings???
This is particularly disappointing because in trying to get their OTC ticker I came across their investment memorandum from January, which clearly states (but apparently just for sophisticated investors) that this digital signage rocket of a company is forecasting year one revenues of $271,500,000.
But on sober second thought, maybe I should be disturbed by that number – given the company is forecasting revenues of $43,000,000,000 within five years. With that number in mind, $271M would be kind of limping out of the gate.
UPDATE: I read the financials a second time and realized I had the year one numbers wrong. $271,500,000 is not the projected revenues, it’s the profit! Year one revenues are $543,000,000.
Here’s the exciting product, as described in the circular!:
The initial product will be the SmartScreen Digit Display. Dynamic Digital Interactive Signage – SmartScreen has emerged as the “Next Killer Application” for the new generation of sign technology in the advertising industry. It is capable of delivering full-screen, full-colour content to stand alone or multiple locations. Cost of implementation has been reduced significantly, making it possible for SmartScreen to be in the mainstream marketplace. Using our patented technology viz ‘communication via SMS’ – it opens up new possibilities in Advertising and interactions. The growth rate is projected to increase significantly in the next few years as our technology matures.
Dave Haynes is the founder and editor of Sixteen:Nine, an online publication that has followed the digital signage industry for some 14 years. Dave does strategic advisory consulting work for many end-users and vendors, and also writes for many of them. He’s based near Halifax, Nova Scotia, on Canada’s east coast.