Sphere 3D Corp. (ANY)

[TheProgressive]

Isn't it funny that it seems like just yesterday the skeptics used the old "they have no revenue!" talking point to talk down SPIHF.

Now we know there is confirmed revenue form multiple streams:

1. Signed the Company's first Desktop as a Service ("DaaS") agreement in Q1 2014, with an international services company (who? how much? can't wait to hear more on this, could be a big one!)

2. Recognized revenue in Q1 from Glassware 2.0™ licenses, V3 Appliances, Professional Services and Desktop Cloud Orchestrator™ ("DCO")

3. Derived revenue from customers in
- Canada
- United States
- Europe and elsewhere

Verticals sold to in Q1 2014 include:
- Government
- Construction
- Financial Services
(any of these 3 could be BIG!)

4. Finalized partnership with Dell to integrate the Glassware 2.0™ platform and DCO, from recently acquired V3 Systems, with Dell DRIVE (speaks for itself - big league validation)

5. Expanded relationship in Q1 2014 with Corel beyond previously announced VAR and Distribution agreements. Corel is estimated to have over 100 million active retail users in 75 countries and over 78% of the PC based non-Microsoft office productivity market

6. Expanded relationship with licensee Overland Storage to include V3 appliances, DCO and collaboration on additional IP creation. Overland's completed purchase of Tandberg Data in Q1 2014 gives Sphere 3D access to a combined channel of over 19,000 resellers, multiple distributers and OEMs as well as a customer install base that exceeds 1,000,000 units.

Financial Highlights:

Estimated revenue for Q1 2014 is expected to exceed $1 million

So much for the old "there's no revenue!" discussion.