Hi Brassmad
Firstly, IOT have spent in the order of $22m in a little over 12 months.
What do they have to show for it?
IOT have also alerted the market to the fact they required a loan of sorts from AEE to buy the 40,000 Rova drones, which will show up in the next quarterly.
As of Dec31, $7m cash in bank.
40,000 drones at lets say $200 each is $8m cash required in Jan 2017.
So there is already IMO a $1m shortfall minimum, plus whatever the deal is, so they will have a loan or something to AEE of $X
So as of today (subject to any anns) they have:
Cash $0
Orders 0
Loans $1m +
Drones 40,000
Roam-e (a few samplers collecting dust)
**And they just issued themselves and sales friends millions and millions of new options at nil cost.
** You have the sales head on $300,000 per year, WT?
Lastly you say or they say $18.3m asset base?
What asset base, as of Dec 31 they did not own anything except a few sampler Roam-e's, some marketing material, a few boxes of chinese watches, and some agnosco tech.
The financials also show that OTT never made anywhere near the projections set out by the IOT group prospectus, because the figures were bulldust. Just like the 400,000 roam-e drone presales number, just like the 40,000 Rova drone presales number, just like the we've sold out of watches in Coles numbers, history just repeats over and over and over.
Management should be held accountable.
Big money spenders (your money) with no results.
There will be a capital raising shortly IMO.
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