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Ann: Further Update on Connected Farms Master Supply Agreement, page-12

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mickey1979

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23/07/21

10:52

Post #: 54715416
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Originally posted by capt.sardine.tin: ↑

A few comments on this to squash some of the misleading information from the forum.

1. Why has this been announced?
Connected Farms and the value of this contract is material. As such, it is the obligation of DXN to provide these updates. This isn't marketing fluff, this is just responsible investor relations. I'm glad they're making this announcement rather than being deceitful.

2. Does this mean they won't recognise any revenue in FY21?
Yes, they made this very clear in January that the contract wouldn't come back into view until the 2nd half of 2021 at the earliest.
https://company-announcements.copyright link/asx/dxn/79303b3b-4fa8-11eb-b86f-3230c0984e96.pdf

3. This contract is dead.
No, it isn't dead. This is aligned with what DXN communicated back in January. That the contract would progress later in the year - this is progress. The value of $900,000 is also in line with what they indicated would be expected as far as revenue.

Sure, the revenue isn't booked and not yet locked in. But it is progress on a substantial contract from DXN.

Expand

Hi Capt Sardine,

You seem to know a lot. Can I please ask you some questions?

1.) How do you think we will go with last quarter 4C? my gut feeling tells me we might be doing ok with few hundreds k cash outflow.

2.) what about the current Jul-Sep quarter? How much contract value have they signed for the current quarter if you can refresh my memory? Are they enough to pay MM, Shaeline and tradies wages?

DXN Price at posting: 1.2¢ Sentiment: None Disclosure: Not Held
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