RE: Moving up..21 Jun 2023 12:38
People must have missed the 15th May RNS too.. as it was in notice of results..
“Further to the announcement on 15 February 2023, significant progress and investment has continued in respect of the material turnkey ASIC engagement for a Tier 1 OEM Automotive customer and remains on schedule for the release to silicon manufacture later this year. Following mutual agreement of the reorganisation of certain project workstreams in order to prioritise and enable enhanced performance in the design, along with ensuring the optimal time to tapeout (and ultimately production), in line with industry practice, key milestones have been redefined and the payment receipt connected to the second project milestone, previously anticipated to occur in Q1 2023, is now expected to occur in the next few months.
As stated at the time of the Company's IPO, Sondrel expects typical production volumes for each contract to deliver revenue of GBP10m to GBP100m per annum and the contract with the Tier 1 OEM Automotive customer could deliver production revenue at the upper end of this range.”
upper end of range