NTG Clarity's C$100 million is a ceiling, not a backlog. Telescope grew 60% and spent C$2 million on investor awareness

NTG Clarity (TSXV: NCI)

NTG Clarity extended its framework agreement with an unnamed Saudi IT customer to August 2031. The original was a C$53 million three year deal signed in August 2024. The extension carries "an initial billing ceiling of approximately $100M CAD in additional work" that "can be adjusted as demand requires," at an expected 33% gross margin. The release states no guaranteed minimum. A ceiling is the most the customer can be billed, not work already ordered.

Telescope Innovations (CSE: TELI)

Telescope reported preliminary fiscal 2026 revenue of about C$9.3 million, up 60% from C$5.8 million. The net loss tripled to about C$4.6 million from C$1.5 million, and operating expenses nearly doubled to about C$13.9 million, "including approximately $2.0 million related to investor awareness and marketing programs." By our arithmetic, that marketing spend equals about 22% of revenue. The figures are unaudited; audited results are due by December 29.

Global UAV (CSE: UAV.X)

Global UAV closed C$4,445,000: 11,112,500 shares at C$0.40 with no warrant, plus C$38,240 in finder fees and 95,600 broker warrants. Proceeds go to "the development and assessment of intellectual property, marketing, investor relations" and general purposes. Its forward looking statements refer to a "proposed business combination transaction with Nexus Peptide Sciences Inc." The release does not describe that deal.

Ynvisible (TSXV: YNV)

Ynvisible agreed to sell its Swedish roll to roll printing assets to Cellfion for C$960,000 cash, which it expects to cut annual operating costs by more than C$800,000. Closing depends on Cellfion signing with the landlord.

Sources: releases from NTG Clarity, Telescope Innovations, Global UAV and Ynvisible.