Ann: Milestone 3 of 4 - Barclays Bank dashboard goes live, page-2

Cash receipts increase in December quarter

9 Spokes is pleased to advise it has now received implementation payment #4 of 5 from Barclays, triggered by a previously achieved implementation milestone. This takes cash receipts for the quarter to date to NZ$1.2m, up from NZ$0.15m in the September quarter.

9 Spokes expects to invoice Barclays in coming days for implementation payment #5 of 5, which is the largest implementation payment and represents project completion. Importantly, with Barclays dashboard now live, 9 Spokes has also achieved the trigger for Barclays to pay recurring contracted monthly licence fees.