RE:RE:23 contracts...but of $5.8M, $2.1M requires trial success BB. You pointed me to the numbers, I confirnd, but you missed that $2.1M of the $5.8m was pending successful client trials. 31 trials is what you and this board shared, per documented facts. I doubt 100% will be successful, so that $2.1M will drop.
Anyway.. data and facts are what they are... per your direction for me to check out..
January 5. - 19 total contracts valued at $5.7m with payouts over 2-3 years. Averages $200k per month, as documented in all the company written paperwork & Sedar.com posting
End of January - 23 contracts valued at $5.8m paid over 2-3 years, however $2.1M of contracts are pending Client Trial successes... as documented in all the company written paperwork (I.e.: January 2022 Corporate Investment Deck on investor tab at Patriot1tech.com)
$3.0M in Canadian contracts for Xtract. (Guaranteed contracts)
Leaves $2.8m in Platform contracts, paid over 3 years per all documents. Of which, $2.1M is dependent on successful Client trials (as clearly stated in the January 2022 Corporate Investment Deck (on investor tab at Patriot1tech.com.
$6.98M in cash in bank on October 31, 2021
$3.0-3.2m quarterly burn rate, as the average burn rate for past year, when you remove the 1 time Raytheon Offset done for Q1, FY2022
BB... you're like an ostrich with its head stuck in the ground. But I'll make a deal with you.
IF PAT HAS OVER $5M IN CASH IN BANK IN THEIR Q2, FY2022 MD&A WHICH ENDED ON JANUARY 31, 2022, AND CLOSED THE 31 TRIAL CLIENTS TO CONFIRM THE PENDING $2.1M AS ACTUAL SALES (With absolutely no reference to pending trial success). THEN I WILL LEAVE THIS BOARD FOREVER.
You have the best end of this offer. They could (1) get a dilutive investment before MD&A posting, (2) they could have locked in more than 4 additional sales and deployed them in January 2022, that might help them break $5m in cash on January 31, 2022, Q2FY2022 MD&A, 3) they might have 31 completed the trials with 100% success to secure the pending $2.1M.
BUT IF I WIN, YOU RECOGNIZE MY ACCURATE DATA AS PRESENTED ON THIS BOARD... IF YOU ARE MAN ENOUGH TO DO THAT.
DEAL?