PCS Edventures! Inc. (OTCMKS:PCSV) jumped 13% on Monday after the company announced its unaudited financial results for fiscal Q2 2022 ending September 30, 2021.
Trading Data
On Monday, PCSV stock soared 13.50% to $0.0499 with 162k shares, compared to its average volume of 20k shares. The stock has moved within a range of $0.0480 – 0.0499 after opening trade at $0.0480.
Earnings Review
The company reported revenue of $0.99 million, representing a 154% YoY increase. Net income in Q2 2022 was $0.09 million relative to $0.46 million a year ago. PCE Edventures had $0.46 million in cash at the end of the quarter.
The company’s president Michael Bledsoe said that the company had a strong quarter with a significant revenue rebound compared to a year ago. Bledsoe said that operationally the company expects to record sales and order activity to surge at the beginning of 2022 despite the current supply chain disruptions.
During the quarter, the company paid off a $100,000 note reducing its net debt, and it expects to reduce the net debt further next year. Bledsoe said that strategically the company is improving the translation of operational success to stockholder value by getting ready to file Form 10 with the SEC and becoming reporting current. So investors should keep an eye on PCSV.
Key Quote
Michael Bledsoe, President, commented, “We had another strong quarter, with revenue rebounding significantly from last year’s comparable quarter. Operationally, we are preparing for record sales levels and a surge of order activity at the start of calendar year 2022, albeit within a challenging supply-chain environment. Financially, we paid off a $100,000 note during the quarter, reducing our net debt correspondingly. We anticipate reducing net debt significantly next year. Strategically, we are enhancing the translation of operational success into shareholder returns by preparing to file Form 10 with the Securities and Exchange Commission to become an SEC reporting company once again. This filing is imminent and, once effective, is expected to elevate our visibility within the investment community. I believe that calendar year 2022 will be a momentous year for the Company and our shareholders.”
