RE:Upcoming AI contract renewalsThought I'd repost the following from a couple of weeks ago which stresses the fact that, beyond the upcoming (this week?) TeleHealth NR, that we could potentially expect a series of 4 x AI NRs, or so, over the month of July alone - mostly extensions of last year's contracts - and perhaps others.
Let's see how it fans out but looks promising, even if only half of these were to materialize.
Resilience19 wrote: As we await new AI contract annoucnements, it's important to remember ongoing contracts have strong potential of being renewed. Some Q3 (01 Jul - 30 Sept) expectations include:
- 02 Jul. On or around this date we can expect a renewal of last year's SeeS Solution contract. On that date, last year, DM announced having entered into a $2.6M SeeS per annum contract utilizing Datametrex’s technologies as an automated operating solution for its large corporate customers like Samsung Electronics and Samsung SDI as well as several banks and insurance companies (https://stockhouse.com/news/press-releases/2020/07/02/datametrex-announces-2-6m-sales-agreement). Note: As many here are aware Dec 15th 2020 DM announced having entered into a (bilateral)contract with ABL Life Insurance Co., Ltd and, on another date, with Samsung - meaning DM is building on its contracts (i.e. Sees Samsung and insurance company) to go out and get other associated contracts. Great!;
- 10 Jul. Last year DM announded a $1M contract with four of Lotte's subsidiaries (Lotte Canon, Lotte Supermarket, Lotte Global Logis, and Lotte Home Shopping) - originally announced on May 24, 2018 (https://stockhouse.com/news/press-releases/2020/07/10/datametrex-announces-1m-sales-with-lotte). Note: then we've recently seen DM expand to other Lotte subsidiairies and we can expect these for to be extended, if not increased in value;
- 20 Jul. Last year DM was awarded $208,800 Milestone 3 (repeat) Completion Payment from Canada's Defence Innovation Program (https://stockhouse.com/news/press-releases/2020/07/20/datametrex-awarded-208-800-milestone-3-completion-payment-from-canada-s-defence). Note: We still awaiting feedback on the $40M MDA-DM JV last year's timing leads me to believe we should hear back from Canada's DND by that date - given government also tries to settle contracts before everyone goes on Summer leave;
- 31 Jul. On that date DM announced announce that it had been awarded a second contract in the United States defense industry, United States Air Force via Wright State Applied Research Corp (https://stockhouse.com/news/press-releases/2020/07/31/datametrex-awarded-contract-extension-with-us-air-force). Note: As this was a repeat, I expect a further extension will be in the books;
- 13 Aug. DM announced that it has entered into an additional sales agreement for approximately $2.3M with Lotte Home Shopping Co. Ltd. Note: This contract was in addition to previous contracts signed with Lotte earlier in 2020 and DM has since continued its land-and-expand strategy. We can expect this to continue further in the months to come - not only with Lotte but also with other SK-based businesses;
- 20 Aug. DM announced that it had entered into additional agreement for providing IT solution and services totalling approximately $250,000 with two divisions of LOTTE companies ("LOTTE"), LOTTE Home Shopping and LOTTE Property and Development. Note: In the spirit of continuation, yet again, contracts with Lotte;
- 10 Sept. DM announced that it had entered into a (new) sales agreement with 7-Eleven Korea for Robotic Process Automation ("RPA") infrastructure. Note: No amount announced but an interesting new vertical, with a lot of potentail given that 7-Elevenis a international chain of convenience stores founded in 1927 in the United States with over 70,000 stores located around the globe;
In short, based only on the above NRs, I expect DM will see upwards of 7 AI news releases in Q3, several of which are likely to be larger than last year's. So a very positive Q3 ahead, not factoring in C-19 income!