1. Is "committed" similar to a "pledge"? We had one of those and...

1. Is "committed" similar to a "pledge"? We had one of those and it has yielded nothing within 12 months.

2. Whilst I cannot fault your maths, 5*$200k commitments = $1m in stock, the logic is a little off imo. Is the Sales Agreement for $200k per annum or for a 1-off first order? I would suggest it is annual. If it is annual, why would any business order their annual commitment in 1 order up front and then sit on the inventory until they can shift it. It does not make financial sense. Although, XPE thinks it is a good idea to allocate capital on this basis.

3. Would we not get an announcement if JCT had received some big orders after the training? The silence is deafening. By comparison, the last company update we were informed XPE sent 5 people to China.
http://www.asx.com.au/asxpdf/20170308/pdf/43gn0kzw8khyr7.pdf

The words v. the actions of XPE; imo, learn to understand the difference.