Ann: Spenda Platform to be rolled out to Carpet Court, page-218

Extreme it is a very valid point you make. This is the first announced deal for Spenda. It took close to 12 months and has been fully funded by SPX, hence no implementation revenue. This deal would be responsible for a big chunk of the cash spend. They do need 10 more but the next 10 need to come very quickly or the cash is gone. Given this one won’t be moving to paying until March 23 ( or June at the latest) How do they get the next ten in time? Will the next one be funded by the company as well? When do clients start paying? Doesn’t seem like anytime soon.

The size of the task in front of them might now start to dawn. It is quite common for a new deal to actually send the SP lower as the market finally gets some detail on where the business actually is.