Couple of interesting bits of information from the report in my view:
"During the year our R&D team came up with an exciting new way of producing the backscatter image. Initial tests with immediately available components indicate we can achieve better resolution this way in a much smaller and lighter package. We believe this innovation also has the potential to greatly simplify and shorten the product development and reduce complexity and cost of the final product. We are waiting for delivery of a new bespoke detector to run more definitive proving tests on this concept in coming months. We are excited to be on the brink of such cutting edge technology and aim to launch the product in 2022." "Micro-X greatly increased widespread distribution of the Nano into 14 countries over the Financial Year including the first sales into Australian hospitals. Overall, Nano related Sales Revenues for the Financial Year grew to a total of $3.8 million (2019: $1.9 million)." "The Rover addresses a niche market in the military hospital market and represents an opportunity for increased revenues at higher margins. A development programme has also commenced for a high power generator which will be integrated as a product enhancement in the next generation of the Rover from 3Q FY2021." "Revenue recognition The Group recognises revenue as follows: Sale of goods Revenue from sale of goods is recognised at the point in time when control of the asset is transferred to the customer, generally when delivery is organised. The normal credit term is 60 days upon delivery."
If there is a 4 week window from order to delivery and then 8 1/2 weeks, there will be a whole quarter delay in recognised revenue. That means we will may not see the revenue from orders in Q4FY20 show up until 4C early CY21.
