CleanSpark Stock News Bear & Bull Case New Order Largest Retailer?

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CleanSpark Stock News and Bear Case?
adminnOctober 15, 2020

CleanSpark Announces New Microgrid Hardware Order
CleanSpark, Inc. Logo (PRNewsfoto/CleanSpark, Inc.)

News provided by CleanSpark, Inc.

Oct 15, 2020, 09:25 ET

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SALT LAKE CITY, Oct. 15, 2020 /PRNewswire/ — CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it has been awarded a $370,000 order for its intelligent automatic transfer switch (ATS) switchgear. The Company’s intelligent switchgear is used to automatically transfer power supply from a primary source to a backup source when it senses a failure or outage, thus assuring uninterrupted power. These intelligent units also allow the system owner the opportunity to participate in regional energy markets when it makes financial sense to sell surplus power back to the grid. This order represents a follow-on order for a Houston, TX based energy developer specializing in natural gas turbine powered microgrids. The final deployments of these units are expected to be on multiple Texas locations of the nation’s largest retail chain.

“This intelligent switchgear order further validates CleanSpark’s unique energy solutions and strengthens our strong revenue outlook to begin our new fiscal year. Increasing frequency of power outages due to grid instability, natural disasters and wildfires is expected to result in significant continued interest for both our hardware and software solutions,” stated Zachary Bradford, CleanSpark’s Chief Executive Officer.

https://seekingalpha.com/article/4378122-cleanspark-is-failed-business-roll-up-in-vicious-court-battle-largest-shareholder-3-price

CatCameBackComments139 | + Follow According to their 2019 10-K (2019 FY ends 9/30/2019) this is how much money they spent in FY 2019 on product development. Research and development: $0Product Development: $1,453,635Later in the 10-K. “Our product development expenses for the year ended September 30, 2019 consisted mainly of amortization of capitalized software of $1,453,635″Professional Fees: $4,829,038which they break down as: $1,032,076 – consulting fees paid to management of the Company $1,735,693 – stock-based compensation for consulting$202,963 – sales consulting$220,163 – legal fees$1,253,903 – investor relations$52,740 – consulting for public relations$15,680 – consulting for software and engineering$141,349 – audit and review feesThose numbers speak for themselves. 12 Oct 2020, 07:44 PM Reply 1 Like

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