The Globe and Mail reports in its Tuesday, May 30, edition that Stifel analyst Ian Gillies has reiterated his "hold" call for Legend Power Systems. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gillies trimmed his share target for Legend Power Systems to 25 cents from 30 cents. The Globe says Mr. Gillies is currently the lone analyst covering the Vancouver-based company. Mr. Gillies says in a note: "Legend's quarterly results came in lower-than-expected as revenue of $100,000 came in significantly lower than our expectation of $1.3-million. The company's cash position remains very low with $1.5-million of cash exiting the quarter. There has been no material update to the progress of the company's financing alternatives, and we believe the company could run out of cash by calendar 2023 if no financing is obtained. With that said, Legend has several options for financing including government loans and loans secured with inventory/large orders. Being able to secure financing is critical, but we believe the cost is likely going to be high given current financing market conditions with elevated interest rates, tightening credit cycle and share dilution if an equity raise is used."