News: GCN Goconnect updates on Go green holdings and veeso VR technology partnership, page-7

PACashmere

Let's all look on the bright side and ask whether the failure of the KickStarter campaign matters.

On 4 August GCN claimed that there was to be much expected revenue from the Veeso VR headset, which GCN says will be the most advanced VR headset in the world upon its commercial launch by year end 2016.

At first sight it might seem disastrous for GCN that KickStarter has now announced that the attempt to raise $80,000 for funding of the Veeso VR headset has been abandoned, seemingly due to lack of financial support.

www.kickstarter.com/projects/veeso/veeso-the-first-face-tracking-virtual-reality-head

The ASX watchdog might reasonably wonder whether abandonment of the funding of the Veeso project means loss of anticipated revenue to GCN, and thus contribute to GCN's risk of insolvency.

Never fear. In the nick of time, on 17 Aug, GCN announced to ASX that Go Green Holdings has advised GCN "that it has reached in-principle agreement with a major Virtual Reality ("VR") headset manufacturer and vendor in Shenzhen, China."

Of course it is only an in-principle agreement, and the manufacturer is unspecified.

Nevertheless, I wonder whether Veeso cancelled the floundering KickStarter project because of a white knight called Go Green - riding towards it over a forlorn horizon.

With Go Green energised by its own grape juice, I imagine this anticipated deal may keep the ASX watchdog quiet.

On another matter, I can't find out anything about the Board of Go Green Holdings. I wonder about the manner by which GCN was advised by Go Green Holdings. This presumably is not merely a case of Richard Li advising Richard Li! So what is the management structure of Go Green Holdings?