Ann: SMS completes installation of sensor kits on Delta Aircraft, page-15

Are you sure the price is $65,000 per kit JUST BOB?

Because I am perplexed about the $262,000 for CVM-based revenue received as of the December 30 half year report, and I’d like someone to clarify this please.

The reasons are:

I thought Delta was due to make a payment at some stage regarding its ongoing relationship with SMS that was not connected to direct sales?

AND
At the time of announcing the pending installation of CVM APB kits to four Delta B737s on [09/11/22] Ross wrote of the Purchase Order :

“..The Company will receive cash for the PO but does not consider the amount to be material…​

As said, $262,000 was the sum attributed to CVM revenue in the half yearly ..​

Surely more than a quarter of a million dollars DOES count as material for a company that only had about $2m in cash at the September 2022 quarterly?p?​

​

AND
Imaged from the December report [SMS Half Yearly report] no revenue was received from contracts with customers.
Surely a Purchase Order counts as a contract?



And I thought Ross had said both that the sensor pricing was private and that money from Delta for the kits was expected after the end of Calendar year 2022?

As said I’d appreciate some feedback from others on this matter.

cheers