$9.4M downpayment on sensor manufacturing contract

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, security printing, brand protection technologies and gaming security software, is pleased to announce that it has received the initial downpayment of $9.4M from our customer for the manufacturing of advanced high-speed banknote sensors. This down payment is part of the total contract value of $39.6M announced on 16 July 2024.

• Nabil Lawandy, Chief Executive Officer, stated: "We are keen to accelerate our manufacturing program with this infusion of cash to support our customer's requirements. Furthermore, this infusion of cash will significantly replenish our cash position following both the acquisition of Cartor Security Printers in December of 2023 as well as advance purchases of components for our customer's sensor order."

Nabil Lawandy, Chief Executive Officer of the Company.