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vdb_123

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vdb_123

Re: None

Tuesday, 08/01/2017 11:03:15 PM

Tuesday, August 01, 2017 11:03:15 PM

Post# of 13669
From last qtr
About 78% of the Q1 2017 backlog is attributed to projects for which we have not received a further deposit on our proprietary equipment and, as a result, there are potential risks of project cancellation or delays. Further, a substantial portion of our Q1 2017 backlog is not expected to be recognized as revenue until the second half of 2017.

In April, we entered into a sales contract with a customer with a contract value of approximately $1,300,000 for which we have not completed the engineering phase. Accordingly, this contract carries the potential risk of non-completion due to the early stage of this project.

Need a miracle, not chart, to turn this around.
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