No it's not. Quite sensible to react to the latest news and it's about to get a heck of a lot better.....THE HOLY GRAIL in fact...
MGM Wireless Co-Founder, Chairman & CEO Mark Fortunatow:
“Sales of Spacetalk are very strong and have significantly exceeded our most optimistic internal targets leading into Christmas,” Mr Fortunatow says. “ Since then, sales are also excellent. Discussions with Australia’s leading retailers is underway – and their interest is very strong.
“In fact, these leading retailers tell us that in their view, the market size is much larger than we originally estimated – and our own sales results support this view.
“Estimates on the Australian market size for kids smartwatch phones is now at 120,000 – 180,000, or $ 30 million to $ 60 million per annum. We’ve begun our international sales rollout and already have interest from international Mobile Network Operators and Distributors.
“We’re likely to see a total transformation of our company moving forward. We’re currently only a $ 6 mill market cap company with $ 3 million in revenues. We’ve funded all the development and manufacture of Spacetalk from our operations, have no debt and still $1.4 million in cash.”
MWR Price at posting:
91.0¢ Sentiment: Buy Disclosure: Held
