Polar Power Inc (POLA)

[wadirum1]

Some excellent reading in the 10-Q. Diversification of customers is beginning!

The Company’s backlog consists of 62% in purchases of its DC power systems by telecommunications customers, of which 45% is from the Company’s single largest telecommunications customer and 17% from one of two Tier 1 telecommunications companies that granted the Company approved supplier status during the first quarter of 2017. In addition, the Company’s backlog includes 28% in purchases from military contractors, and 10% from other markets.

Since the beginning of 2017, we have been granted approved supplier status from two additional Tier 1 telecommunications customers and reestablished our relationship with one other customer, making us vendor approved to all four of the Tier-1 wireless carriers in the U.S., one of which purchased its initial set of DC power systems during the second quarter of 2017 and has submitted its first significant order worth $1.2 million in October 2017. (emphasis added, and note that this order was NOT included in the September backlog figure!)

We have successfully obtained vendor approval from 32 overseas carriers and are working with them on RFP’s exceeding well over $100 million as of September 30, 2017. Although no assurances can be given that any of these RFPs will result in purchase orders for our products, we believe these initiatives have laid the necessary foundation for long term financial performance and we expect to receive purchase orders from many of these regions during the first half of 2018.