This contract is massively bigger than their previous largest...

This contract is massively bigger than their previous largest contract.

Last contract was $2m to $2.5m over five years or $400k to $500k a year in rev.

This one is $6.4m over seven years or on average $915k a year paid monthly.

So the new largest contract is about double the previous on the previous largest contract.

TCV should be sitting round $21m now with recurring rev around $4.7m.

$900k in capex expenditure this quarter for this bih contract. Announcement identifies this as being part of the outflow figure of $1415k in 9.7 of 4C.

So that means there is $515k of further expected outflow this quarter on further Paas contracts and some one off sales.

Think we will get another Paas contract before Christmas.