Response to my request for further info on the agreement:
Thank you for your email and interest in IoT Group. Here is a bit of background information on the announcement of the deal that we have made.
The IoT Groups’ USA Sales & Distribution Representative, Paul Tobin, has spent six months researching the most effective and efficient distribution channel for our consumer product release pipeline. Mr. Corlett was recommended to them by one of America's (and the world's largest) most innovative retailers, with whom he has a very strong and long standing relationship.
The IoT Group anticipate that orders to be placed over the next 90 days will completely support our Board's decision.
About Brian Corlett
Bryan Corlett has been in the sales, promotion and distribution industry for 20 years, and operates nationally and internationally from a base in Newport Beach, California. Mr. Corlett leads one of the largest private networks of product sales professionals in the United States, and his team has sold leading products in major categories including health and beauty, weight loss and fitness, clothing, sports, household and cleaning products and consumer electronics.
His contacts into product purchasing decision-makers at every major retail group, both traditional and online, is unsurpassed. These kinds of private networks are based on relationships that take decades to develop. IoT Group was referred to Mr. Corlett by one of America's (and the world's) largest and most innovative retailers, which has a very strong relationship with him.
The Corlett network has sold tens of millions of dollars of goods annually to retailers including the Sony PlayStation and Apple products. Mr. Corlett selects a discrete number of products to promote, and unlike other "big name" distributors such as Brightstar and Ingram Micro, he can take on a single SKU product like ROAM-e from an unknown overseas company and devote the time, attention and resources (and give buyers the confidence in the product) to sell large quantities of it in short order. A company seeking to get this kind of sell through in North America could take years just to get the right meetings, and spend a fortune on market development with no assurance of success.
We hope this adequately answers your questions.
IOT Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
