The integrations were big one-off projects meant so that the customer data could be integrated into ISX's ecosystem. According to JK's narrative, do a huge onboarding project (which we outsourced), and then they'll become loyal customers who can use our services and we'll make the profit after that.
The end result was: - 3 integrations were contracted. All were right at the end of the 2018 year. We never needed to do an integration product before that quarter, and never did one again afterwards. - The three integrations resulted in ~$3m of invoices, which was just enough to clear the performance share revenue target. - Of that, I think it was only $1.7m was ever paid, with the rest of the invoiced amounts being written off as never getting paid in a future year. Yes, they still kept the shares. - After the projects were completed, 2 of the 3 customers basically never used the platform that they just paid (together) about $3m to integrate to. The third customer used it for a few months (I don't have the dates on me), so we got a little revenue from that, and then they stopped using it too.
SP1 Price at posting:
$1.07 Sentiment: Sell Disclosure: Held
