Ann: Quarterly Activities Report and Appendix 4C, page-4

@Rokewa

I take my hat off to you! This is pretty much as you predicted.

This result was largely driven by the successful launch of IQbuds BOOST in May 2018 and the subsequent stock out of this product in June. The lack of availability of IQbuds BOOST stock early in the reporting quarter and the ensuing ability to receive payment for product shipments then made in the latter part of the quarter, impacted these results.

Receipts for the BOOST launch were in the last report. By the time new product was manufactured and sold, the receipts were not able to be received in this quarter. 

And it does appear that the BOOSTS launch slowed sales of IQBuds.

A low result for the quarter. Seems we will have to wait longer for the upswing in BOOST sales.