I am afraid the one caught up in semantics seems to be you,
but it's not recurring revenue which is the revenue which is the revenue that matters for this stock because that's the revenue that proves the technology.
Unless you know of any other reason someone would buy a reactor and never use it, or purchase not one but two to only seldom use them.
With out having a solar panel, QTMM will have recurring revenue from the quantum dots used in further testing of other products using quantum dots.
I'm not sure why what you're saying is so complicated. QMC sold a concept. The Continuous Flow QD process using a micro reactor. With that license they sold reactors to make the product. But they didn't sell it to a display OEM. They didn't sell it to a chemical company. They didn't sell it to a solar company. They didn't even sell it to any kind of manufacturer. They sold it to a start joint venture with no manufacturing experience (half a state government of third world country and the other half is a company of QMC's foreign sales agent). So... while it would be great if the JV develops saleable products and everybody makes lots of money, the concept has to be proven in the real world. It should be obvious that there is a lot left to prove.