Board Approves Distribution Q1 2022
After review of the quarterly report submitted by the President for Q1 of this year, the Chairman has asked the Board to make a decision on a profit distribution to the shareholders in the amount of $.72 per share. On Easter Sunday, April, 17th, 2022, the Board voted and finalized the decision. Jason Nobles, who is the President and Chairman cited "having a strong first quarter to the year", as one of the reasons for the distribution.
Only some of the information from the quarterly report submitted by Nobles was available for publication, but it does seem to highlight a profit margin of around 35%, with a total revenue stream of around $60K, and after paying out $16K in employee and contractor compensations plus some other overhead expenses. The margin equivalates to about $2.04 per share for the quarter, with $.72 per share being distributed to the shareholders, and the remaining $1.32 per share being retained as risk management.
The company derives profit namely from that of Wyoming Bail Agency, its bail bonds surety division, but they have also seen a profitability margin of around 36% just in its pretrial service division, Wyoming Pretrial Services also. Though the revenue from pretrial services makeup less than 10% of the companys' total revenue.
However, Nobles appears to think that "the numbers will only continue to get better as time goes", citing a "new and clear business plan with the development of partners, along with the development of our technology and additional services being added". Though it is not clear exactly what additional services Nobles is referring too, it is likely that he is referring to the addition of 8-Fold SIU.