Sucks to be them.

How does anyone think $745k won't be missed in a company that booked $4.6m revenue and had a cash balance of $3.6m in 1H FY22. It undermines all of their accounts.

[Not held]

24 May 2021

ASX code: K2F

Roy Hill Expands K2fly Agreement across Technical Assurance Suite Highlights:

• Roy Hill contracts K2fly Mining Technical Assurance Suite

• First sale of the full suite of new products that originated in the SATEVA suite of applications acquired in Q2 FY21, now marketed as Mining Technical Assurance Suite

• Five-year contract with a total contract value (TCV)* of $2.44m

• K2F’s ARR*(Annual Recurring Revenue) grows 9% quarter to date to $3.30m pa

• Demand continues to grow for K2fly Mining Technical Assurance suite across tier 1 miners globally.

***

K2Fly have put together a nice little brace of announcements recently.  Market acceptance of the SATEVA product suite is particularly welcome.  They're still a fair way to go - and possibly a capital raise - to profitability but these contract wins/expansions are a reason for optimism.

[Held]

Financials update from K2Fly (K2F) today.  It looked ok but no mention of costs and the timing seems a little odd given they didn't hold off and include in their 4C.  I notice they are getting a little skint.  If I was feeling glass half empty I might be thinking they're trying to pump the SP in order to do an institutional raise at inflated prices.

[Held but had already been considering my position and this gives more food for thought]