More of the same from YPB, being 'loose' with the facts, and...

More of the same from YPB, being 'loose' with the facts, and omission of detail that would put a negative light on the announcement.

As I see it, the contracted program offered to Rim-Lock is not something YPB can provide as an 'off the shelf' solution and extensive customising of what YPB can do is required. I think such features as inventory use maintenance, or management of its data base will still have to be developed taking both time and money, and the $80,300 price tag is not revenue as YPB claims, but a fee to do the customing. It will not be recurring revenue
The escape clause for Rim-Lock is that they can terminate the contract with 30 days notice but they still will be required to pay that part of the $80,300 that at the time of the termination remains unpaid. That also confirms that the $80,300 is more a fee for customising, and not a recurring revenue outcome.

YPB has not provided a time-line and how much they expect revenue wise from this contract, again because I suspect the numbers don't amount to much. Any revenue to come with the supply of YPB's solutions to Rim-Lock will be those as stated in the announcement such as the monthly licence fee to use their Brand Reporter, fee for QR codes generated, fee for YPB ProtectCode with ultra tough label. The Rim-Lock innovation is a piece of plant that allows a worker to change a tyre from a safer distance, the special Rim-Lock locking nuts of which 2 are used are to hold the wheel in place until all the other nuts are fitted, at which point the Rim-Lock invented nuts are removed. Hardly big numbers of these plants would be sold and the special nuts used by the plant are re-used so as a revenue stream, it is never going to be even measurable and impactable on YPB's desperate need for revenue growth.

The YPB announcement also says that the Rim-Lock invention is patent protected. Rim-Lock Innovations Pty Ltd was registered with ASIC as a legal entity in May, 2022 and is no more than a start-up company in existence for only 1 year. There is evidence that the term "Rim-Lock" is the subject of a Trade mark registration but that has yet to be granted. There is no evidence that I have been able to confirm that Rim-Lock innovations has a patent covering their invention, so why has YPB stated that it is a patented protection solution?

It would be very good for YPB if they ever have product that does exactly what they have contracted to supply to Rim-Lock innovations but going on YPB's past 100% failure rate I have my doubts that YPB will be able to lull it off.