RE:Notice of Contract Award for Approximately $20M over 5 yrsBetteryear2 wrote: - Initial contract for five-year term with additional option years
- Value to KWESST estimated at $4M per year minimum, $20M over initial five years
Ottawa, Ontario--(Newsfile Corp. - May 2, 2023) - KWESST Micro Systems Inc. (TSXV: KWE) (TSXV: KWE.WT.U) (NASDAQ: KWE) (NASDAQ: KWESW) ("KWESST" or "the Company") is pleased to announce that it has received notification of contract award under a joint venture with two other defence industry partners, to perform software systems engineering work for the Canadian Department of National Defence ("DND"). The contract component for KWESST is valued at a minimum of $4M annually for a five-year initial contract followed by five, one-year option years. All amounts in Canadian dollars.
KWESST Receives Notice of Contract Award for Approximately $20M over Five Years for Software Systems Development for Canadian Department of National Defence (newsfilecorp.com)
We'll it's a start, but meager sized contract that will not garner much attention, nor should it. When you break this down, it is only a million in revenue per quarter over the 5 year term. Once again David Luxton, famous for over promising and under delivering, your track record remains intact.
Atleast Steven Archambault slithered away by resigning, you should absolutely do the same. The worst management team I have ever come across, great product line but totally incompetent people running this company. What a shame. GLTA.