Movement Industries Corp (MVNT)

[chemist72]

Here's my guess. Revenue for small valves was recognized in Q1 and Q2 (HiAlloy Valve aka MVNT). Obviously not much for that part of the project.

Rest of the revenues from PEMEX project were recognized by the other 2 JV partners who are private companies. When the time is right MVNT will acquire one or both of those private companies which were MVNT's partners in the JV.

One of those companies is most likely Velocity Manufacturing (owned by Linh). The other is probably a company owned by Sami that makes the submersible injection pumps and also developed the control software. When this will happen is anybody's guess. But I'm thinking sometime in FY2025 or early in FY2026 (which starts on July 1, 2025.)