I think you have nailed it ! Parcel A is a certainty unless, as...

I think you have nailed it !

Parcel A is a certainty unless, as you say, revenue dips to $1m - unlikely.
Parcel B requires $2.27m revenue in the June quarter to achieve the $7.5m annual run rate.
Parcel C requires $3.52m revenue in the June quarter to achieve the $10m annual run rate.

That's is 53% and 137% revenue growth respectively in the next quarter.

53% is likely.
137 % is not likely.

To put it into perspective, 50% QoQ growth in revenue is $1m in Q1 to $3.375m in Q4.

The dilution from Parcel A & B would hit the SP, but I agree with you, this would be short term and those prepared to hold long term would reap the benefits of the on-going growth that ISX is tapping into.