Covalon Technology Limited (COV)

[zenvesting]

One of few bright spots in the 4th quarter was development and consulting revenues. The MD&A indicates:
Development and consulting services revenue for the three month period ended September 30, 2019 increased by 58% to $1,201,981, compared to $760,326 for the same period of the prior year. Revenue from development and consulting services varies based on opportunities and the length of the sales cycle for given projects.

That seems to correspond to this increase in OEM clients mentioned in the PR: We engaged in over 60 customer development projects of various sizes with approximately 22 medical product companies this past year in our OEM business, which includes the various projects underway associated with the previously announced major contract with one of the world’s largest
medical device companies that licensed Covalon’s proprietary medical coating technologies.