"Pursuant to the statement of work (SoW) under its existing Master Services Agreement (MSA) (refer to ASX announcement dated 20 March 2018), activation of Buddy Cloud technology integrated with the delivered vehicles will initiate the provision of operation and support services by Buddy to Airstream, entitling Buddy to a monthly fee payable per vehicle activated. This fee is payable for every connected vehicle with an activated Buddy Cloud powered component, for the life of the connectivity in each vehicle, unless the MSA is terminated (note that either party may terminate on 30 days notice)."
I read this as Buddy receiving payment from day one, per vehicle...
Yes, the owners may have 12months before they then have to pay their subscription to continue the service, however BUD will be making money (in addition to their $124950USD/month) per connection, for each vehicle connected. from day one
"The SoW continues to remain in effect and the additional revenue to be derived from the vehicles activated is incremental to this. Buddy will continue to receive a fixed monthly retainer (refer to the ASX announcement dated 20 March 2018)."
have i missed where its been said otherwise?
BUD Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held