IOT ships its ROVA and AirSelfie products around the world
Published 22-NOV-2017 14:18 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
The IOT Group Limited (ASX:IOT) has today updated the market on recent sales figures and its business plan moving forward.
The company has indicated that in the past two weeks, it has received purchase orders and shipped a total of 3,420 ROVA and AirSelfie products to retailers and distributors in the US, Europe, Latin America and Australia. Additional purchase re-orders are also being processed for major retailers in the US in the lead up to Christmas.
IOT is now developing a comprehensive sales plan with US sales accelerator Spring/Cities, with the aim of capitalising on major calendar sales events in 2018. It also aims to utilise markets in Latin America, Europe, United Kingdom and Australasia to deliver further sales of its product suite.
“The IOT Group has now turned the corner and we are really starting to see the results of the growing distribution channels in North America, Latin America, Australasia, Europe and specifically the United Kingdom,” Executive Director of IOT Group, Sean Neylon said.
“Sales are increasing steadily with further territories to be opened in 2018. The product pipeline for 2018 looks very exciting and we look forward to revealing more in early 2018. The pipeline launch begins at the Consumer Electronics Show in Las Vegas on January 2018.”
In an effort to minimise shareholder dilution, the emerging tech player has secured a A$500k invoice factoring facility. This new capability will provide the business with a significant increase in purchasing power and reduce its reliance on future capital raises.
The company has also negotiated Payment Terms with Latin America distributors to advance cash in advance of shipping, with the agreement to bolster IOT’s cash flow in Q4 moving into 2018.
It should be noted here that IOT remains a speculative investment and interested investors should seek professional financial advice if considering this stock for their portfolio.
Amazon and Best Buy have confirmed they will be ranging AirSelfie and ROVA for the Christmas period, with Payment Terms for both groups to take place 30 days from delivery.
IOT also indicated that its previously planned December Capital Raise, in regards to its acquisition of AirSelfie Holdings, has now been cancelled.
Both companies are working through due-diligence, with contracts for the transaction now being finalised.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
