A fairly neutral Quarterly, some good, some not so good.
Firstly the good, the cash burn was only $350k and that was after costs for the new premise fit out and $306k for more manufacturing (stock). Goes to show they don't need many sales to become cashflow positive. They received $380k for 36 machines, so a bit over $10k each.
Sounds like they have quite a few customers in the pipeline, they say "several" including 2 looking to "fast track the vegetation & propagation of plants for transfer to their greenhouses". We already know about RQB & MPX who aren't looking to do the above, so that makes a minimum of 4.
It is also good that the EuroAg 240 pa order was for Caricom who represent 20 Caribbean countries. As I've posted before, MPX also deal with EuroAg and call them RGI's N American distributor. They did a deal with EuroAg for exclusive rights to Arizona & Nevada. So when MPX eventually place their order, hopefully it wont come out of the 240 unit pa EuroAg deal, as I'd assume the majority is for Caricom??
Disappointing the Amfil 100 unit order hasn't yet been filled, though we've had confirmation of the 216 order Amfil announced several months ago. That's beyond their control.
Most of the rest a rehash of what they've already announced, though it does sound like the potential of N America is huge & they are doing all the groundwork which will eventually pay off. I've said before, its a matter of WHEN these orders come through not IF. Their cash burn rate is surprisingly low.
