Don't know why management didn't release that info to the market yesterday. Yesterday's announcements really lacked any punch. They didn't even bother to state how many SME customer's Bank of America has.....
In the announcement the Company said that the Contract will have a material impact on 9 Spokes’ revenue.
Over the term of the Contract 9 Spokes expects to receive the following revenues:
• A one-off implementation fee; • An annual licence fee for a minimum of 3 years with the annual fee being materialas it equates to more than 25% of FY2019 total revenues; and • Income derived from an app marketplace.
This revenue is also expected to be material to 9 Spokes, however, the amount of the fees that will be received by 9 Spokes under the Contract is uncertain and dependent on a number of factors, such as the level of SB customer adoption, usage of the app marketplace, the timing in relation to the on-boarding of app partners and the value of contracts with such partners.
9SP Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
