XAU Earnings?

GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
@Roy Sebag mentioned informally on twitter last week about an earnings announcement on the 8th, but I haven't seen anything yet. Am I missing something?


  • JacHumphreyJacHumphrey Posts: 19 Staff ✭✭✭✭✭
    Hi @GMONEY1!

    As of now, we plan to release financial results for Q1 2018 on Friday morning at 7:30 a.m. ET.

  • TexTex Posts: 197 Bronze ✭✭✭
    @JacHumphrey thank you for the update. I bet the 1st qtr was a good one.
  • vangvang Posts: 6 Tin ✭
    hope we have a great quarter!
  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
    Nicely done Goldmoney team. Keep it up!
  • GoldIsCurrencyGoldIsCurrency Posts: 1,765 Gold ✭✭✭✭✭
    I am very happy to see some profit booked. Hopefully it will bring in some institutional investment and bring the share price out of this ditch. Companies with an increasing share price get talked about, hence more publicity equating to quicker growth. Everyone wins.

    What confused me in this release were the comments about the NCIB.

    Buyback Black-out
    Shareholders have enquired about the normal course issuer bid and this is to remind shareholders that, as per applicable policies, the Company is unable to engage in share buybacks so long as it may be engaged in any M&A activity or any other activity that may be material and non-public. The acquisitive nature of the group coupled with earnings black-outs make executing such buybacks difficult. The Company remains committed to using its surplus capital to execute buybacks when it is able, and will do so in accordance with the rules and policies of the Toronto Stock Exchange.

    Insider Naik Mahendra purchased shares recently on July 19th. If an insider can buy shares then I see no reason why Goldmoney can't do the same. What am I missing?
  • vangvang Posts: 6 Tin ✭
    Interesting question @GoldIsCurrency

    Great work @Goldmoney !
  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    Need to bust out your securities law books for this one. There are a lot of rules around buy backs and they difffer from insider purchases. Not an expert. Regardless I'm happy to see a profit.
  • RocketDogRocketDog Posts: 550 Silver ✭✭✭✭
    Me too. The profit is a wonderful result.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,765 Gold ✭✭✭✭✭
    The list of highlights for the quarter was extensive and impressive. I think they are moving things along with lots in the works to roll out with Branch's and MENE in the near coming months. So it is exciting. Profit in just the 8th quarter is impressive and displays the future potential of the business model. Lots of growth potential and the cash balance never really goes down which displays discipline with expenditures. Very well tuned to the bottom line.

    @Pinkdog I think your right, different rules must apply. I presume the below could potentially have something to do with a blackout period.

    We continue to invest in new projects and expect to unveil details about at least one new subsidiary we have been developing with our existing technology, supply chain, and expertise in retail marketing and distribution channels by Q2 2018. While these new investments and subsidiaries will continue to be focused on the retail gold sector, they will increasingly move into products with higher margin potential while expanding on our original mission of broadening access to physical gold," said Josh Crumb, chief strategy officer and incoming CFO of Goldmoney Inc.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,765 Gold ✭✭✭✭✭
    I was hoping @GrandpaBrian would weigh in his thoughts. I miss Grandpa B's thoughts and wisdom. I hope him and his wife are enjoying summer cruising in that vintage convertible.

    Thought I would also mention something that for some reason I had missed on my first read of the financial results of the 1st quarter and that was the inclusion of additional branches that hadn't been mentioned before.

    The Toronto branch, located at 38 Avenue Road, will be open to the public by September 2017. The branch at the Company’s owned headquarters, located at 9 Bond Street in St. Helier, Jersey, Channel Islands, will be open by October 2017. The Company plans to open two or more additional branches by mid-2018 and is in the early stages of negotiating leases for branch locations in: Manhattan, New York; Dallas, Texas; London, England; Zurich, Switzerland; and Madrid, Spain.
  • TexTex Posts: 197 Bronze ✭✭✭
    It was a great quarter. The branch locations are great but they still haven't full filled their original promise of the new holding account (their core product).

    Im most interested in the current quarter because it will reflect the change to a unified holding. Im interested in seeing what the change had on growth momentum. It's been 60 days since they announced the change and have not delivered the services they claim to offer on: https://www.goldmoney.com/dealing-rates-and-storage-fees
    They have only added 3 out of the 5 ways to put money into your holding account. They have not increased the ways to get your money out, bank wire only (or debit card). ACH and PayPal withdraws are not available yet even though they are stated as an option under the dealing rates. Customer service is back to slow / unresponsive. Storage credit is it working, is it not, my question has still gone unanswered. Maybe they should focus on their core primary product first and do it really well before spreading themselves thin in all directions.

    I still think Goldmoney has great potential.
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