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Ann: May 2017 Operational Update, page-115

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636 Posts.

04/05/17

07:21

Post #: 24456855
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Originally posted by spinefx ↑

Brass, can you explain this?

http://www.aspectfinancial.com.au/d...Jyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==&popup=true

ASX Announcement
First production order for ROAM-e placed
 IOT places first order for October 2016 delivery
 First batch to be sent to distributors in USA, Japan and Australia
 First retailer orders scheduled for December 16 quarter
Sydney: 31 August, 2016: IOT Group Limited (ASX: IOT) advises that the first production
order for the ROAM-e ‘flying selfies’ was placed with Shenzhen AEE Technology Co., Ltd
(‘AEE’) for delivery in the December Quarter 2016.
The first batch of the production will be sent to our distributors in the USA, Japan and
Australia for evaluation by the buyers of major consumer product retail stores.
Following their appraisal IOT expects to receive firm orders in the December Quarter 2016.

Do you not think this announcement is very misleading to potential investors? So the order was placed for production, fact. We are told they will be delivered in December quarter, fact. Where are these Roam-e flying selfies? They certainly weren't sent out as pre-orders were refunded. There was a Business update in November where it was stated, "Pursuing consumer and commercial sales inquiries for Roam-e and facial recognition and tracking software".
December they announce the ROVA and Roam-e is shuffled down the announcement, now the Roam-e is sometime in the future.

What has happened to the confirmed production and delivery of the Roam-e in Dec quarter. Were they ever made?

Cheers

Expand

and didn't they pay AEE about 600k for that "production" too (from memory). And whatever to the guy below (28 Sep ANN and presentation)?

Peter Cummings –General Manager of ROAM-e & Drones, IoT Group

and who were the major distribution partners they met? (presumably the guy who is now ceo of iot us?). 9 months on from first production run and ................................................................................

IOT Price at posting: 1.7¢ Sentiment: None Disclosure: Not Held
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