George Gasper's questions to Visionary Holdings (GV) leadership • Q3 2020
Question
George Gasper, a private investor, asked if the payment to the former CEO's estate was covered by insurance, about plans to refinance long-term debt, and opportunities in the electric substation business. He also inquired about the business outlook for Q4, the reason for the increase in property and equipment on the balance sheet, the current total employee crew count, and the company's real estate strategy.
Answer
Acting Co-CEO and CFO Steve Wherry confirmed there was no company-payable insurance policy and the payment was a contractual death benefit. He stated they plan to manage upcoming debt and noted the increase in PP&E is due to new electrical construction equipment and a new facility being built in Spartanburg, SC. Acting Co-CEO Jason Spivey explained they are expanding their substation work to cross-sell other services and stated the company has approximately 520 employees, a slight increase year-to-date.