 Today I have the pleasure of speaking with Chris Thompson from e-research. How are you today Chris? I'm good in yourself Chris, I'm a fan of your writing as you know and I just received an update report on eq ink and you know, it looked good. It looks like your your key Messages you your your maintaining the buy rating and increasing their one-year price target to two dollars and sixty cents. Is that correct? That is correct All right, so tell us what you determined in this report update and why we need to read it Yeah, well, you know eq was a very interesting company It's a sort of one of these big data AI analytics companies that is you know, it's focusing on using geospatial data to deliver results for its clients who are looking to To sort of grow their client base but with targeted advertising so it evolved from the ad tech space And and it's been growing over the last couple of years In increasing it's the data side of this business where the clients use a very extensive database they have On tracking of clients to help them generate new leads and revenue And so the the ad tech part of their business is slowly decreasing so that and the data side is Increasing dramatically it grew last year a hundred percent a year over year And it's you know, you're typical sort of your SaaS space, you know monthly revenue Which is what's the market likes and you know, it typically gives a higher multiple too And and one of the reasons why I did a revenue bump You know year over year was that in January they signed a client who was looking to spend, you know $4 million just on the data side of their business And so that's why I see, you know pretty good You know growth for the company this year even with cold but I sort of gave it a little bit more of a muted You know growth rate of only 40 percent a year over year And then increasing next year to 60 percent year over year and that's how I sort of get my my target price Okay, so further to what you just said, which of course was my next question Chris, which was to tell me more about eq Um, we've I've got notes here in front of me data mining business specializing in location based or geospatial data You just touched on that according to your report. It's one of Canada's largest providers of location based data with over one petabyte, so why don't we just back you up Could you tell us what a petabyte is and then Some kind of reasons why you should be in this industry. Yeah petabyte is a is a million billion Bites of data, so it's a lot of data and they both have proprietary data sets as well as they buy third party data from You know cell phone providers and other geolocation data that they amalgamate together for their clients The best way to understand the company and and its value for its client is an example where You know if you are driving in on a highway by one of these electronic billboards that can be controlled They could flash an ad in front of you and they know that you drove by that billboard And then they hope that you they can then track you You know via your cell phone to see if you went by that store And so this sort of giving that second piece of information that advertisers want they want to know You know is my advertising working And with the geolocation data they can provide, you know very detailed Locations by you know either postal code or zip code For targeted advertising one of the ones that they're doing right now is for insurance Is they're helping to insurance companies to target their insurance based on you know certain demographics which they can use You know from using that their ad technology And their geolocation data and they're and they're seeing much better returns You know for their advertising dollars and that's what the the end client wants they want to know You know are my advertising dollars actually working? Am I generating? New leads as well as new new customer sales Well, I'll tell you you hit a lot of selling points. I mean there's a lot of companies out there We as investors we're looking at everything and I noticed a strong balance sheet You've got Reference to your February 2021 financing with gross proceeds of 11.5 million Can you talk to us a little bit more about that strong balance sheet? You touched on a little bit already But hit us with a couple of key points and and i'm going to ask get it dumb it down for all of us out there That are new to each new ink and we're like, okay, this company sounds really great. I mean the company Price was reporting at a dollar 62 when you put out this report and I do see a Price target at 260 so obviously we as shareholders are going to you know be looking and starting to do our due diligence process Yeah, the the the money they raised was both to help them You know to make sure they got through coven which which they're doing fine They had revenue or sort of they had money in the bank to be able to do that anyhow but but for right now their revenue Is only 4% in the u.s. And the u.s. Is the largest market so You know some of the use of proceeds could be for a targeted acquisition in that's in in the u.s To give it a foothold For to get a little more revenue from that from that region As I say 96 of the revenue right now comes from from canada And I think that that is a good spot for them to grow into as well as you know as they grow their data business They grow their data sets and often have licensing fees that go along with that And that and that's what the use of the proceeds should be for so you know again I they're they're going to take this money and you know accelerate their their growth with their with their data clients And that's a good reoccurring revenue stream. We should help with the multiple on the stock Well, you you touched on many of the high points that I had made pulled out from your report But I also thought you pointed out that the q4 Revenue will probably increase due to advertisers around christmas time. Is that correct? Yeah, so q4 was probably the highlight or the High watermark for over the next couple of months. So there's a little bit of seasonality in q1 But overall we see you know revenue growing about 40 percent From 2020 to 2021 Which is a good bump for a small company for again, it's a very small team It is data sales analytics. So there is very high margins as they grow that business So a lot of that revenue will drop to the bottom line So just to confirm here e-research Is following eq you had initiated coverage and this is an update that we're referencing. Is that correct? That is correct. Yeah, we initiated coverage about a year ago and this is an update report for this quarter and we will follow them And do quarterly reports and and more with there's a you know any major event like an acquisition And of course because we love compliance here at investor intel and respected I do need to clarify that you have received funds from eq ink. Is that correct? Yeah, I receive funds from one of their marketing support groups to publish my research on it In my reports though for You know for clarity and and for investors who are looking to look at my valuation It's all laid out in the report of how I do my valuation And that you know any investor can change my metrics to get a valuation that would fit more in line With their assumptions in the marketplace So it's it's a pretty open book of my reports and and I think it has a lot of value For any investor who's looking at getting more information about eq I'll tell you any analysts providing cliff notes for me to understand companies that are referencing things like petabytes Is something that I appreciate so chris as always Thank you so much for joining us and please come back to update us with eq ink And of course, we may actually reach out to the CEO of eq ink to do a follow-up interview Uh to ask some questions based on your report. Thank you chris. Thank you tracy