Seems lots of ANNs about orders and distribution agreement and CR to fund orders, so thought I would try and look at prior ANNs. Numbers don't appear to add up. This is ROVA only IMO
In the march quarterly they said
Now, I assume US$1m was cost of inventory, but sales/cash in June were no where near that figure even at sell price (i.e. they didn't sell all inventory)
From the half yearly financial statements (which are accrual based not cash based)
Purchases (assumed to be COGS) were AU$520k (this should be inventory consumed onto orders $646k of Revenue)
Inventory (as at 30 June) AU$268k (this should be inventory on hand)
But the investment of US$1m is around AU$1.25m. What happened to other Au$450k of inventory? Write down? Given away as promos/marketing? Anyone?
And on the 19June (2 weeks before quarter end), they raised $850k to fund inventory/order flow. And now another 0.582k
So the units shipped/cash received in Q3 (due out next week) should either be strong OR should be lots of inventory (presumably 268k inventory + 850k order CR, from June). Interesting, as no clarity on orders/sales in recent anns
IMO DYOR
IOT Price at posting:
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