Points being overlooked.TEI has a sales base of Gem traps and custom orders approaching 15 M.
90+% of the sales are valued at less than 1 M and go unreported.
The 27-30 PDAs are all larger projects valued at 1-5 M.
Currently TEI has a 23+M backlog of orders in hand.
So 4 sales NRs from the PDAs can get TEI gross sales 'over' 30 M.
Quite a pipeline of revenue going forward.
Thirst for Energy Efficiency is increasing.
For a customer engaged in multiple projects, the ROE for project 1 pays the investment in later projects - a sustainable process. Factor in Carbon Tax avoidance and the drain on cash goes negative. Win-win...!
Smart customers are avoiding Taxes, reducing GHG, becoming more efficient, reducing costs and meeting climate criteria.
You can verify the financials by a detail review of the QTReports and the recent analysis documents.
JMHO reflecting on information provided.