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Clearly the company need to explain the current position without hiding behind 'commercially sensitive'. Good opportunity to update on implications for income as a result of 2024 deadline too. Transparency v obfuscation. Honesty v , better stop there.
Maybe coincidentally, the 500,000 pre-paid licences, that were sold by Connnode before the aquisition by Cyan, multiply that by the one off £3.60 activation fee per licence that Imperiallondon mentioned, comes to £1.8m. Which is very close the " £2m revenue taken from this contract to date " referenced in the CyanConnode 2019 Interim Results Powerpoint.
LTI.
Sorry Imperiallondon. Missed a bit.
It is good to see the share-price on the way up, slightly. Gently, gently.
LTI.
Good morning Imperiallondon/BST,
Imperiallondon, thank you for your understanding of the UK contract, it is appreciated. It also mentions in the CyanConnode Interim Results - 2019 ( Powerpoint Presentation ) page 14, which I have mentioned before, that " £2m revenue taken from this contract to date."
So maybe it refers to £2m being taken from the contract during the Connode/CyanConnode years, prior to 2019. There is no material revenue expected from the UK contract during 2019. But revenues from the UK roll-out are expected to grow from 2020.
Whether that will change with the 4 year extention to the time-scale of the UK contract, announced yesterday, we will have to wait an see.
It is good to hear from you again Imperiallondon.
LTI.
200,000 connected to the DCC each month. Surely have to be activated to be connected to the DCC.
http://www.morningstar.co.uk/uk/news/AN_1560163679232013600/cyanconnode-performance-in-line-after-transformational-2018.aspx
This from just a few months ago.
"CyanConnode estimates that 2.4 million SMET2 smart meters will be fitted with radio frequency mesh enabled communication hubs in 2019."
This figure makes the initial 500,000 thousand look rather insignificant with a further 2 million meters being fitted..but no mention of being activated here.
Many a slip between an instal and an activate lol
Thanks for that. So there are three elements to the money receivable for a meter:-
- Initial cost for 500k - received in prior years
- Activation one off fee
- Activation recurring fee.
So JC has stated - 'First 500,000 pre-paid licenses have been activated'. But that is contradicted by no material revenues in 2019. Just makes the use of the word activated look deceptive, no other word for it.
Apologies - Stand corrected re earlier post - "not spot" revenues
£3.60 activation one off fee
62.4p recurrent per meter / per year
Posted by multibagger on another thread - thanks:
multibagger17 May '19 - 09:40 - 553 of 758 Edit
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I attended - If I may tightfist, 500k licences were pre-sold by Connode (quoted by Bjorn) - not 200k.
After a bit of discussion re "not spots", the figure quoted by Heather Pea**** was 62.4p per meter/year, after an one off £3.60 activation fee (quoted by John Cronin)
As of 10 May 2019 and SmartDCC website installed smart meters: 905,891 (from memory)
Good meeting !
My understanding is that 500k "not spot" solutions were pre-sold by Bjorn Lindblom during the Connode era and prior to us taking them over. The revenue from these have been recognised in prior years.
This is not the same as 500k "not spot" solution being activated - I am very clear about that.
For every activation of a "not spot" we get something like £3.60 as an "one off" activation fee and then something like 12.63p per year thereafter (recall reading this on the other thread around mid May 2019 time). There are financial safeguards against a random activation of installed smart meters to our solution - example a cyberattack that freezes the mobile network and in which case, one would expect that all our "not spots" installed solutions will be activated - but this is not the case.
So as stated ad nauseum, the revenues for CYAN from UK Smets 2 "not spots" is not likely to be material anytime soon. Probably 2020 at the earliest.
Nevertheless, good to see the SP creeping upwards.
Hello Bull.Bear.. Perhaps you will get a reply on here from YJ to your open letter.
However don't let us get too hasty seeing that the SP is now moving upwards.
I thought again about the Commercially Sensitive comment and what it could possibly mean.
My mind comes to the problems occuring in North. Some months back I heard that any spare SMETS1 were being moved up there. However I didn't know if that was north tip of our contract or right up North.
At this time who knows but they may have sent SMETS2 CC RF's up there as until yesterday they were under extreme time limits.
Only my thoughts but SP is moving.