But, what do you have here? Why has the market not been captured for the smart watch? Here is Mr Kantor quoted in the AFR last 6th July:
"We did the market test with Coles in its 82 mobile-enabled stores; but it has over 700 stores, and the plan is to roll out watches to all of their stores over the next three months at their service desks," Mr Kantor said.
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"In addition to Coles and Woolworths, the plan is to be in about 10 retail chains by Christmas, including JB HiFi, Harvey Norman and Dick Smith's. The production side of things is definitely sorted; we have the capability to produce about 10,000 units a week."
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And why is the drone so expensive at $349? From the same article:
""The third product will be a drone, which will be controlled by a smartphone app, with the primary purpose of taking selfies. Mr Kantor and his team have designed software that will make the drone focus on certain features, and be able to follow a subject from up to 25 metres away. He said he expected to tap into the huge market that had splashed out on selfie sticks in 2014, and charge $149 for the drones."
There doesn't appear to be a working prototype, but they expect to start deliveries in June:
http://eftm.com.au/2016/03/roam-e-the-flying-selfie-camera-available-to-pre-order-now-26669
So you don't have 10,000 smartwatches being sold per week through 700 Coles stores, Woolies, H-N, JB Hi-Fi and half a dozen other retailers. You don't have a drone for sale at $149.
Receipts from customers for the first qtr were $282k. If that was all smartwatches at $79 (that is, there weren't any receipts from people pre-ordering the Roam-e) that would be 3,570 watches for the quarter, or 275 per week.
Best wishes for the future with this one.
