Ann: An update from the Executive Chairman, page-35

…We have restructured the business, and the way we manage and report on it, around three distinct business segments:
- AEM Special Mission Avionics - designing, developing, manufacturing and marketing avionics equipment for specialist rotary and fixed wing fleets such as aerial firefighting, law enforcement, search and rescue and airborne utility operators;
- AEM Contract Manufacturing – manufacturing avionics products for third parties;
- CVMTM Smart Sensor Solutions – designing, developing, manufacturing and marketing effective and efficient crack detection monitoring for commercial, military and cargo aircraft.


So I guess the Contract Manufacturing is built on what remains of the old Cobham contract that was AEM’s original life blood until it sold and most of the business was moved to USA?

And AEM Special Mission Avionics has been developed up from that $4.6m buy of Eagle Helicoptor’s audio lines in September 2021 [ref], plus whatever else AEM had going for it?

And then - in third place - the once novel but now four decades old CVM tech that launched SMN onto the ASX back in 2007 or whenever it was.

At least the military interest is still being mentioned?​

Along with the reminder “CVM TM continues to be highly prospective…”​

- not such a happy note that one, despite the cheery presentation. (Especially with the ever increasing number and sophistication of sensor technologies :/)​

And they ran out of money!!!
ooops to that and that was despite the affirmations in an earlier financial update that they had budgeted very carefully.

Do we ‘ironically’ blame Boeing?​

Can we point a wry finger at Delta too?​

And shrug our shoulders stoically about any sales interest at earlier ‘expectations’ that has now fallen off the table?​

​

Perhaps the most positive note of all here is that if the ‘highly prospective’ CVM tech goes the way of multiple lost inventions and disappears into some bureaucratic limbo, there is still a company -over there in Canada - that has real worth and two currently expanding value drivers along with a happy team who, as I remember, all get treated to Friday donuts from a premier local bakery?

cheers

PS and if I’m a bit sarky here it’s not all about you Ross.( I’m trending ‘sark’ due to another business.)
- I think you’ve been doing great work, thanks for the loan, and it’s a shame Covid hit you so hard

again, cheers