Prospectus
posted on
Dec 08, 2021 04:24PM
(Edit this message through the "fast facts" section)
The prospectus yesterday brought back the the guidance of $27mil rev in 2022. Only a full year late. And why? What was the holdup?
Also, the minimum purchase requirements for Raymond which I've been wondering about how much it was set at and why they weren't hitting it in 2021. Apparently, it doesn't kick in until Jan 2022
page 09 """The Company anticipates revenue of approximately $27 million for the twelve months ending September 30, 2022, to be generated from two primary sources: direct sales and sales through the Company’s OEM partner dealer network. Included in this anticipated 2022 revenue is some revenue from the Vicinity Strategic Supply Agreement.
page 10 """ The Agreement is for an initial term of three years. The Agreement does not constitute a guarantee of minimum orders but does include an exclusivity provision, pursuant to which Raymond must make annual purchases in the minimum amount of $15 million in order to maintain exclusivity. This annual period commences January 1, 2022. While there is no assurance that Raymond will achieve over $15 million of purchases in 2022, given the sales initiatives underway with Raymond, management anticipates achieving or even possibly exceeding this minimum purchase level in 2022 and has accordingly included it in the 2022 forecasted revenue of $27 million"""
page 10 """ In December 2021, a key customer indicated that they will be placing orders valued at approximately $9 million for 2022 with deliveries beginning in the first quarter of the calendar year.