The lack of revenues is not surprising but the change in 4C format is - what happened to charts showing delivery and freight revenue growth charts like you see in Sept 4C and Dec 4C and software contract growth in Dec 4C? Does those revenue growth add up to what is shown as just $100k sales receipt in Apr? It is also queer that exact figures of $100k and $300k for this quarter's cash receipts and to date cash receipts.
Statements suggesting
"The total minimum contractual value of these contracts represent meaningful revenue to the company over the next 24 months, once fully rolled out." How meaningful is meaningful and these are spread over next 2 years - how material will that really show?
"The blockchain pilot with UPS was very successful and completed in April, and both companies are in now is discussions over next steps". At first it sounds promising but from last announcement, this was meant to complete in early April, so probably a month has lapsed and 'next steps' sounds like dangling something promising.
I read and infer closely from what is written - sorry to be sounding sceptical but IMO its about buying more time.
YOJ Price at posting:
16.0¢ Sentiment: None Disclosure: Not Held
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