Starting to get some contracts under their belt, 2 now for GFS & Frozen Penguin should order those 48 machines to go with the fertigation system soon. I think we'll also see news flows from our 3 major deals over the coming weeks.
GFS is turning out to be a very sound investment. We issued 5m shares @35c or $1.75m for the business, + performance shares based on revenue milestones. With the $300k in contracts over the last 6 weeks + Gibio & Freshero the price paid will seem like a bargain. Frozen Penguin paid C$130k to do 2 rooms - 48 machines. Gibio will have 420 machines and they will be 8' machines, so I'd expect very conservatively $1.5m for the fertigation, Freshero probably about the same and that's just for their first facilities. Owning GFS also enables Rotogro to offer the whole package to it's clients. The market didn't pay much attention when we first announced the acquisition, just as this went under the radar, the other parts of the business will also start paying off.
Half yearly due by end of Feb & of course AGM on Feb 28. Getting the resolutions voted up will enable them to move forward especially in relation to Supra and the exclusivity Freshero require. They will probably update the presentation & maybe offer some insight the in the Half Yearly commentary. Of course there will be no financial surprises as we've seen the cash flow statements for the corresponding period.
Unfortunately I'll be overseas and unable to attend the AGM, but have some spies, so should get some feed back.
