Executed commercial agreements ?

GetSwift Limited (ASX: GSW) (‘GetSwift’ or the ‘Company’), the SaaS solution company that optimises delivery logistics world-wide, is pleased to announce that it has signed exclusive commercial multi-year agreements with BETTA Home Living (Betta.com.au) and Fantastic Furniture (Fantatsticfurniture.com.au). Release Aug 23

On a market update from Get Swift stated. "Please Note: The Company will only report executed commercial agreements. Unlike some other groups it will not publicly report on Memorandum of Understandings (MOU) or Letters of Intent (LOI), which are not commercially binding and do not have a valid assurance of future commercial outcomes. "

Fanatastic furniture said " At the end of the trial we said thanks but no thanks "

Looks like the company has reported they signed exclusive commercial multi-year agreement but omitted a vital piece of information - the commercial agreement execution hinged on the results of the successful trial with the client giving the final go ahead to implement . So by logic any commercial agreements signed or "executed commercial agreements" in their words have no value until the client gives the go ahead to proceed after the trial. The second statement that MOU's and LOI's are "not commercially binding and do not have a valid assurance of future commercial outcomes" infers the executed commercial agreements that GSW sign have a valid assurance of future commercial outcomes. They in fact "may" lead to commercial outcomes but there is no valid assurance as demonstrated by the Fantastic Furniture signed exclusive commercial multi year agreement that did not lead to a commercial outcome after the trail.