I agree with you for the most part Realm.However, the...

I agree with you for the most part Realm.

However, the explanatory reason is that they signed the JV with Brickworks on May 6th. They then had to develop and test the optimized blocks that they would be using for future builds.

It's also worth noting that their Class C Performance Shares require them to generate >$10million in revenue in a financial year (expiry being 60 months from approval date I.e 6th of October 2015) which implies that they have to do it in the 19-20FY.

If you were senior management, why would you build your first 10 houses in a commercial contract (for revenue) before the 19-20 financial year commences? Your Class B only requires the 10th build to be completed within 48months of the Approval date (6th of Oct).

The outdoor build had nothing to do with the performance shares... The Class A Performance shares state:
'Upon successful demonstration of the company's robotic building technology as proven by the construction of a 3 bedroom, 2 bathroom home structure within 3 days commencement of construction by the company's robotic home building technology on the site.'

It was worded so it would favor FBR. We did approve it though.