Ann: Share Placement, Share Purchase Plan and Business Update, page-12

This is interesting.....if it pans out it could be a real winner.

The Company is presently in negotiations with a major US utility company in respect to the purchase of a bulk order of LIFX lights that, if complete, could result in an order of more than half of LIFX's 2018 sell-through volume. The proposed arrangement remains subject to the completion of negotiations and the execution of formal documents.

And this was always going to happen...sounds like sooner than later.

The Company has, subject to the finalisation and execution of formal documents, reached agreement with: (i) Luminous Wide Limited to extend the maturity date under the deferred consideration agreement from 31 March 2020 to 31 October 2020; and (ii) Eastfield Lighting (Hong Kong) Co. Ltd to reduce the cost of manufacturing LIFX lights, which will seek to enable the Company to reduce the MSRP (manufacturer's suggested retail price) of LIFX lights while maintaining or potentially increasing gross margins.

LifX needs to be cheaper from a wholesale price point so it can compete in the retail space because there are way too many cheap lights out there now.