Business
NTG Clarity Corporate Update and New POs Valued at Approximately $1Million CAD
(TheNewswire) Toronto, ON – TheNewswire - March 24, 2022 -...
About this update from Ntg Clarity Networks Inc.
[{"type":"text","content":"NTG Clarity Corporate Update and New POs Valued at Approximately $1Million CAD\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Toronto, ON –\n \n \n TheNewswire -\n \n \n March 24, 2022 - NTG Clarity Networks Inc.\n(TSXV:NCI);\n \n \n (OTC:NYWKF)\n \n \n ;\n \n \n NTG Clarity\nis pleased to announce a corporate update and that it has received ten\npurchase orders (POs) from new and existing customers in the Middle\nEast. Five of the POs are against previously announced Frame\nAgreements.\n \n \n \n \n \n \n \n \n As of the publishing of this release, NTG has a backlog\nof $10.38 Million CAD of unbilled amounts in POs on hand to be\ncompleted in 2022. This is in addition to already invoiced amounts in\nJanuary and February. This put us in a healthy position to continue\nour profitability going forward and contributes to the growth of our\norganization. Additionally, we are expecting to renew several\ncontracts with major customers that are coming up for renewal within\nthe next six months.\n \n \n \n \n We have recently received the following POs:\n \n \n \n \n \n \n 3 POs worth $577K CAD against the $3.5M, one-year\nrenewable Framework Agreement announced January 11, 2022. These are\nfor outsource and offshore resources with a leading bank in the Gulf\nRegion.\n \n \n \n \n \n \n A PO worth $235K CAD to provide annual product support\nservices for our NTS software installed at a major telecom operator in\nthe Middle East.\n \n \n \n \n \n \n 2 POs worth $132K CAD to provide technical resources to\na multinational system integrator.\n \n \n \n \n \n \n 2 POs worth $22K CAD to provide professional services\nto a new customer in the medical sector in the Middle East. The work\nstarts immediately and is expected to be completed in 2\nmonths.\n \n \n \n \n \n \n A PO worth $10K CAD to provide an offshore resource to\nan existing customer in the transportation sector. The work starts\nimmediately and is expected to be completed in 2 months.\n \n \n \n \n \n \n 2 POs worth $29K CAD to provide professional services\nto an existing customer in the telecom sector in the Middle East. The\nwork starts immediately and is expected to be completed in 2\nmonths.\n \n \n \n \n \n In response to these POs and the general increase in demand for our\nservices, we continue to strengthen and expand our Egypt Offshoring\nCentre in orde...