Ann: Entry into Manufacturing Agreement with Sprout Organic, page-9

100% right. a Microcap can’t swallow large capex like Synlait. AHF’s advantage is the plant was built for flexible, small-batch runs, so “retooling” for Sprout Organic boils down to extra cleaning cycles and a few minor recipe tweaks.

Also, they don’t actually pay until orders land: this is a non- exclusive, “as-you-go” manufacturing deal, so AHF only ramps up when Sprout places firm contracts.

In the meantime, they simply hold capacity and capture any early fees, no sunk cost until volume commitments follow.

Hope we get some decent orders rolling through shortly!