RE:RE:Xtract technologysWhat... you don't believe me?
Then read the Annual MD&A for FY2020 and FY2021, and the recent press release...
FY2020 MD&A. - August 1, 2019 - July 31, 2020
The Company earned revenue of $2,071,244 during the year ended July 31, 2020 compared with no
revenue in the prior year. This revenue consists of $725,525 from the sale of the PATSCAN platform
through the Patriot Threat Detection operating segment, and $1,345,719 from the fulfillment of contracts,
through the Xtract operating segment.
As of July 31, 2020, the Company has $308,547 of deferred revenue recorded relating to the early adopter
sales of the PATSCAN offerings, as compared with $nil deferred revenue in the prior year. Xtract has
collected $119,742 for work it has not yet performed which has been also recorded as deferred revenue as
of July 31, 2020.
FY2021 MD&A. - August 1, 2020 - July 31, 2021
XTRACT completed work on existing (Xtract) contracts worth $1.0 million during the fiscal year and was awarded multiple government projects during and subsequent to the fiscal year, totaling $2.6 million including a 12-month contract worth approximately $1.0 million to adapt its AI innovation platform to provide misinformation and disinformation detection for Canada’s Department of National Defence
Breakdown
FY 2022 - $1.0M - Per PAT CA DOND release on February 22, 2022
FY 2021 - $3.0M - Per $50M Investment Deck (January 5, 2022 / SEDAR). (but technically $2.6M FY2021 MD&A)
FY 2020 - $1.4M - Per MD&A for FY2020 (August 1, 2019- July 31, 2020)
Total $5.4M Xtract Contracts Since Acquisition Sept 9, 2019 (technically $5M =FY2020 $1.4M + FY2021 $2.6M + FY2022 $1.0M)