More than a significant customer in my opinion , if this was US listed I suspect the stock would of been front page news
Even in Australia where we tend to misunderstand IT businesses , I was very surprised the stock did not run up towards 40 cents today as the Citic website shows they employ more than 100,000 staff across China.
ANZ have proved the technology works, and generate revenues very close to break even , with this client and the client announced last month it is just a matter of time before clients like Citic Telecom start buying 1000,s of licenses and the revenue starts surpassing the expenses
Very simply and low cost model using third party sales forces to find the customers.
100,000 licenses at $10 per month of revenue of $12 million per annum.
The corporate overheads are about $4m per annum and if we recall the Eureka report video the margin on sales once sold is around 50%, so very profitable and very scalable , no reason why in 2 years they cannot have 20 clients like this and 2m licenses in that time
More than a significant customer in my opinion , if this was US...
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