CVM earned $130,000 gross revenue?
vs $11,130,000 gross revenue for the AEM Canadian aviation radio manufacturing business, and $16.69m for the AEM manufacturing contracting business which were originally partnered to manufacture CVM sensors ?
As far as sensor production, it didna make too many of those, but was still purchased by shareholders here (as a profit-making stand alone entity), then expanded … er ..by shareholders here to
become a profit-making stand alone entity , then moved to a new $6m premises (funded by shareholders here?) to continue to become a profit-making stand alone entity …
And this year the whole shebang improved its’ position - only being in the red by $1.04m after tax etc.
And over here on the ASX, the market cap of this curious company is $97.5m according to Commsec today.
Wry?
(That’s ‘wry’, not ‘why’?)
But on the ‘why’ side:
Why did CVM only gross $130,000 given the ‘ground breaking sales agreement with Delta in January 2023?
https://structuralmonitoring.system...al-sale-of-cvm-technology-to-delta-air-lines/
- have they not broken any ground in 18+ months after all?
I guess you can tell I am indeed a bit wry about the reverse takeover of an Australian public-listed company by a bunch of happy Canadians who celebrate their good fortune by doling out free donuts on Fridays and have even managed to snaffle our Australian CEO, Ross Love to the Kelowna, Canada lifestyle.
It all hangs on that CVM sensor I guess, the price, the hopes, the dreams and even - to an extent - the donut streams.
cheers
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FROM THE REPORT TODAY:
During the year, the AEM team continued to focus on the completion of the final testing procedures required to finalise the certification of the Company's CVMTM Smart Sensors for the Aft Pressure Bulkhead (APB) inspection – Boeing Service Bulletin 737-53-1418 - with an updated timeline supplied by Boeing.
The Company announced on 6 June 2024 that Boeing was conducting evaluations of the final testing which was completed in May.
The Company announced in a statement on 5 August 2024, subsequent to the reporting date, that Boeing Technical Design Review had confirmed that all outstanding Aft Pressure Bulkhead tests had been successfully completed and that the outstanding technical design issues arising from their initial review in February had now been closed off.
As referenced in the August announcement, the next step in the process is the final compilation by the engineers and review by the E-UM of the compliance summary report, which represents the entirety of the compliance package, and which is expected to be completed by October 2024, according to Boeing's anticipated updated timeline.
SMS Group Chief Technical Officer Trevor Lynch-Staunton P.Eng reported that all technical concerns had been resolved but that several steps still remained in the process, both within Boeing and also within the FAA.
The updated timeline provided by Boeing detailed the FAA acceptance of the Certification Plan by August 2024, the submission of final documentation to Boeing ODA (its internal certification authority) by September 2024 and anticipated submission of the Boeing Service Bulletins and Compliance Report to the FAA by November 2024.
As announced and experienced previously, these are timelines outside of the Company's control and which may be subject to further change due to resourcing or external demands.
While the August milestone confirms the Company's ongoing confidence in the process and ultimate outcome, there remain a number of key steps in the process to be completed.
However, as previously stated, this achievement does increase the confidence with which the Company is able to engage with its potential customer group and its existing contracted customer, Delta Air Lines.
The milestone also provides further confidence to concurrently pursue additional applications, which is already occurring.
The CVMTM sales and engineering teams attended several key industry events during the year with Mr Lynch-Staunton presenting at the ILA Berlin Air Show.
CVMTM's installation and training partner, TESTIA, presented a new co-authored paper entitled: An Exploration of Leveraging CVMTM Sensors to Monitor Structures Across Various Industries – Part 1: Mining, Infrastructure and Marine.
The paper was co-written by TESTIA's Aswin Haridas and Holger Speckmann and AEM's Trevor Lynch-Staunton and Dennis Roach.
While the financial performance of the CVMTM business segment, as detailed below, continues to be challenged by the timeline of the FAA approval process, we remain confident in an ultimately successful result and note the increasing interest from our US airline customers as timelines are met and progress achieved.
AEM CVMTM recorded gross revenue for the year of $0.13m (2023: $0.37m). 
