Ann: FLC procures first Aspiral contracts with ITEST in China, page-49

Thanks for your considered reply @Relax1. I appreciate your thoughts and input.

However, I am still not convinced that EMC had achieved USD $2 million in FIRM contractual engagements.

I believe that the true nature of the so called trigger for the 2nd milestone in the form of the Jinzi agreementwas not actually a firm arrangement. I think the true nature of this agreement was disclosed by the Company in the 27th February 2018  update to the market as follows:

"Progress in China with the signing of a framework agreement with partner Jiangsu JinziEnvironmental Science and Technology Company. The agreement contemplates the delivery ofsix Containerized Smart Packaged wastewater treatment plants based on Fluence’s MABRtechnology (C-MABR);"

I would have thought that contemplate means "think about" as opposed to actual confirmed orders for a $dollar amount. What even is a framework agreement if not just a fancy term for a  MOU? 

The fact that this was couched in these terms 3 months after the original announcement but NOT in the original announcement seems a bit strange to me unless they did not want to bring attention to this aspect at the time. The difference in language between the original announcement and this update could be rather telling.

To have achieved the 2nd milestone the contractual engagement would have had to have been for a firm amount at the time of the original announcement.

Your thoughts on this would be appreciated.

Cheers