RE:RE:RE:financials out on sedarmarkzhang28 wrote: Another surprise is 9.7M 3D printing contract is gone.
"Management expects the majority of the current backlog to be recorded as revenue prior to the end of fiscal 2016. However, depending on the outcome of management's negotiations with the Asian customer for the additional 9 systems, $9.7 million of current backlog would be at risk.".
Not sure it is "gone", but it is troubling for sure. States that "
differences between the Company and the customer arose regarding the technical specifications of this contract. At
the date of this MD&A, these differences have not yet been resolved and the timing of the
resolution remains uncertain. Management believes that the Company has respected the terms of the contract and expect to recover the full amounts owing under the contract from the customer".
Losing this contract would be problematic for sure, especially for a company that has only a few hundred thousand cash on hand and few other firm contracts on the table. There is lots of neat tech here, but real, tangible growth is proving elusive.