Ann: Back to school market update - February 2018, page-21

Sorry there appear to be two competing views here?

Are the $4m contracted and the $3m recurring two separate pools of money?

IE there is already $3m in recurring revenue annually and there is another $4m in contracted revenue that has not yet started being paid and is therefore not yet recurring?

Or is the $3m recurring revenue part of the $4m contracted revenue?

I can't find either amount being referred to as being an annual figure. Why is it assumed that it is?

Big difference between $4m contracted over a year as apposed to $4m spread over up to 3 years.

I agree that cash receipts this quarter will be a good representation of the next 12months of revenue from schools that were signed up last year.

Anyone able to help pull it all apart?