Sales target is meaningless Sales is not equal to revenues. Without knowing the timing of Instalment payments revenues can not be estimated. Co. must provide guidance on revenues and not just sales!!!
$1.5M-$2.5M 2022 Sales Target Unchanged
For Q2 2022, our recorded revenue was $NIL and deferred revenue was US$27,750 from the now installed US$127,750 Commercial Technology Purchase ("contracted sale" or "sale") announced in Q1 2022. The balance of US$100,000 will be paid in four equal payments of US$25,000 every 4 months starting December 1, 2022. Proceeds from a second contracted sale to Hidroexpo late in Q2 2022 are not yet recorded in either revenue or deferred revenue.
Our unchanged contracted sales forecast of $1.5M-$2.5M are expected to be secured in Q4 2022 and Q1 2023 as a number of Trials are ending in Q3 and Q4 2022. We expect to be in negotiations for Commercial Technology Purchases and related contracted sales with growers after full analyses of their Trial results and value accretion during Q4 2022 and Q1 2023