Hi @slasha, welcome back - if nothing else you did at least stick to the see you in 3 months, pretty much, hope you are well.
No offense though, your math has been out by around 250% every quarter for the last 3 quarters at least. As identified above by your own posts, you were expecting total Cash Receipts of around 6.3 we got 1.9. The devil appears to be in the detail.
For example this Q - one could quite confidently state that Cap will pay 1.4 in licensing fees for Swift Statement so we add 1.4mill to the expected revenues, however the wording is open to interpretation around how that 1.4 will be paid to SPX and there is no mention of timeline.
So the 4C rolls around and the numbers don't meet the expectation (again) - because as per the announcement Nov 6 2024, people go cool, Cap will pay the outstanding 310k for DSD completion plus 1.4m for Swift Statement, as on face value that would appear correct but the wording in the same announcement doesn't actual say when or how the 1.4m for Swift Statement will be received by SPX.
The assumption is incorrect not to mention Business don't pay on the day, they are invoiced for services with either 30, 60 or 90 day terms so other than the 310k plus the 100k is Saas Fees, the invoice for Swift Statement may not even be due for payment until Feb 6 2025 (90 day terms) and therefore not appear in this 4C at all.
As always hopeful that the 4C is as good as hoped, but I don't think CF+ will be happening (again)
SPX Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
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