Detailed design and engineering agreements for two new programs...

Detailed design and engineering agreements for two new programs were entered during the quarter which included one premium EV SUV program. These two new agreements are in addition to the four programs that underpin the Phase 1 Mega-line investment.

The long-term sales outlook and pipeline of new programs is now very strong, with a record level of 15 active programs – 8 awarded and 7 in the detailed design and engineering phase. Of these 15 active programs, 4 are electric vehicles. The four programs that underpin the Mega-line investment are progressing well – with formal program award for two of the four programs expected in the near term.

This is why I remain bull on this company. One day soon the floodgates of revenue will open. Oh, and the numbers were better than I was expecting too.