The oil&gas deal even better than you describe:
Just an added perspective to think about. The process that led to that Maverick deal, and the facts of the deal itself, both say a lot:
First, if I remember the history correctly from 2019, Maverick in coordination with PCTL first did a laboratory trial of the effectiveness of the PCTL product(s). That went on for many months. Maverick liked the results enough that they then did a live trial out in the production fields. They then liked that result enough that they signed this contract for the first million gallons over the next year (so either to the end of 2021 or to a few months prior). But they also did something that I as an investor did not realize might happen as we awaited the outcome of the trials:
Maverick liked the results enough that they decided to not only become a user of the solution themselves within the oil & gas industry, but to effectively become a reseller of it, my words not theirs, outside the oil & gas industry.
Per the announcement, of that first million gallon contract (multi-millions of dollars), half, 500 gallons, goes to Maverick's own oil & gas industry work, and half, the other 500 gallons, goes to a second division of the company, either created or expanded for this purpose, to use or resell the PCTL solution, maybe the equipment too not sure on that point, outside of the oil & gas industry. That's big! This oil & gas company is going two different directions as a PCTL customer, both inside of and outside of the oil & gas industry, a user and a reseller. That's two potential sources of growing revenue for PCTL from this one contract. (Note: Thanks Godough for the small correction: The contract was for a MINIMUM of 1 million gallons over the next year. A big point in its own right)
PCTL has said that the potential from the oil & gas industry dwarfs the very large potential of hospitals around the world, which we already know is significant and PCTL has only begun to tap into. And I suspect Maverick will just be the first oil & gas company to become a PCTL customer. But Maverick is going to be growing a non oil & gas industry business as well. Makes me wonder just how big that side of it might become. That little twist was a surprise part of the deal announcement.
Excuse my wordiness, but I think you get my point. LONG & STRONG!!!!
And there's still the agriculture/cannabis industry out there that PCTL has been pursuing. We don't hear much about it, but it was briefly referenced in the recent shareholder letter, so something seems to be going on there. I suspect this industry too is yet another huge source of potential future business for PCTL coming down the pike.
GLTY and GLTA!
