CVT have made solid progress this quarter, an all round good result.
Would have liked to separate the Cipher Point revenues, however expect that they would make up most of the $165K revenue based on previous market releases. Cipher Point look to be on track to deliver the promised 300K in revenue by Dec.
Looking forward the advertising and marketing budget has increased from a spend of $(163K) to an estimated $(403K) for next quarter to coincide with the marketing activity mentioned in the update. In my opinion this is a positive and suggests that CVT has overcome the majority of the technical deficiencies that Ted outlined in April and the company has a product it can take to the market and start selling aggressively.
CVT Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held
