Situation with Covermore agreement termination is not so bad.
UNL had an exclusive agreement to supply SIM cards to Covermore in insurance markets where UNL operate with them in. This agreement is now terminated freeing United up to extend UNL solutions with other insurers in market.
As part of the Covermore contract finalisation all customers will be migrated to United Networks as direct customers. Covermore continues to make offers until 28.8.2018
Gross revenue from Covermore was approximately $50,000 per month but cost reductions relating to this Cavermore contract termination will be $15,000 to $20,000 per month.
2018 Q3 vs 2018 Q4 revenue was +$422000 this revenue increase will easily cover revenue loss from Covermore contract.
Ann: UNL Termination of Exclusive Contract with Covermore, page-2
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