I think Noveda would contribute about 4 to 5 million transactions per day, once full integration has occurred around the end of March 2016. This is going off the acceleration of 4-6 months of the target of 20 million transactions per day within 24 months of the capital raising.
From Quarterly
CUSTOMER TRACTION
Following on from the November, 2015 announcement that New Jersey-based Noveda Technologies, Inc.
would service all connected energy & resource meter data traffic via Buddy Platform, the Company provides
guidance that this integration work is proceeding ahead of schedule. Accordingly, the Company expects that
full integration between Buddy and Noveda will be complete by the end of Q1, CY2016. Furthermore, the
Company expects that as a result of this integration, meeting the first performance milestone (20MM device
connections to the platform daily, as documented in the prospectus dated November 3rd, 2015) shall be
accelerated by 4-6 months.
From Investor Presentation
one third of the performance shares shall convert upon the company logging
20,000,000 total discrete connections to any Buddy server or service (interactions)
by any approved network connected hardware or software application (device) per
day for no less than 3 consecutive weeks within a period of 24 months from the
date of completion of the capital raising.
Going off what Dave said in the conference call when he was going talking about milestones, 24 very large customers hitting over 50 million device connections per day would equal to about 20 million in revenue. So when we are talking about Noveda, US Cellular, possibly United Airlines & Sears; they should each be million dollar annual contracts (IMO).
The big customers will all be on the big custom plans, MINIMUM $250k setup & $50k per month. Healthcare, government, finance, mining, telecommunications.
Around July last year they were at 2 million connections per day, by October it was up at 8 million. Noveda would get that up to about 12 million once they come online, plus any other new customers since October would increase it again.
That's why the half yearly report will be so interesting, as we will get our first good glimpse of early revenues since these larger contracts have been signed.
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