These must be customers who have been assured by Siyata and maybe their Tier One operator that the UV-350 is close to carrier approval. I also think this is a Canadian order since Siyata would be thrilled to announce a big move into the US markets for their product.
So I am assuming this is a backlog order that will become active as soon as Siyata's device is fully approved by the Tier One carrier, Bell Canada or At&T that the first responder uses.
Siyata had forecast Canadian approval in Q1 so they're late but could be close. US approval is the big key because the US market for the device is so much bigger. Waiting for the PR that says AT&T has approved the device for US markets. That should pop the stock.
PR says $5million Q2 sales vs C$3million in Q1. Was expecting continued low sales until they get approval from Tier One Carriers in Canada and the US for their new 4G devices but apparently they got orders ahead of the approvals. Either the companies ordering these new devices are extremely confident of the upcoming approvals OR Siyata gave them an extra discount for ordering early. We'll find out when the financials are published.
I am guessing that the gross margins will be less than normal. August is the first month that Canadian Tier One approval is expected. Siyata needs this approval badly to indicate that their device is approvable and that US approval is likely.
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