Ok, so lets play this through.
The revenue last Q was $8.7m, already above the highest milestone a hurdle of $3.75m in any 3-month period. This Q was higher at $12.6m, now we have the issuance.
If the GSW "portion" (though I don't agree with the idea, but for the sake of argument) of that is only the raw $3.75m needed to trigger, this still leaves $8.85m outstanding from total $12.6m. LOGO has the first revenue payment hurdle - a fair guide of trajectory expectations - set at $24.2m for the 2020 year (Appendix 4D and Half Year Report - Pg 17). So about $6m per Q if you assume that revenue generation rate has already been met.
That would leave $2.85m in revenue and BDP/Scheduling+ outstanding.
We know from reports previously the revenue contributions of these companies (https://www.asx.com.au/asxpdf/20190828/pdf/447z595lq9m0bh.pdf - Pg53). So this would mean that 906k for the period Feb 19 - June 30 in 2019 has grown to 2.85m per Q in just one year. Would seem an unreasonable due to the initial purchase valuation of just $5.5m for both businesses.
There would also be the interest (200k) and Govt Grants (138k), not significant figures but also included.
....Basically, why do you all think the "core" GSW offering is not generating enough revenue for the milestone to be achieved?
We should be able to confirm this with the upcoming 2020 Financial Report.
All in my opinion, DYOR.
MJ
