Yes 1PG, just another small matter of interest, it's like they all come from the same Mother.
Senior Man taking a 3 months reduction in wages, probably charging interest and/or more free options in exchange, how about a 50% total reduction subject to actual results where they can show how to make even 1c in profitability?
They have to cut wages otherwise possibly trading while insolvent.
Again coming out with fluffed numbers, this time for the Air Selfie, where does it end?
If IOT can't even organise a simple cashflow funder then they should just give up altogether. This in itself should show just how precarious a position this mob are in.
Then we have the capital raiser saying one thing to its simple investor sheep about to be slaughtered, and IOT saying another to the market, why am I not surprised?
I guess IOT could give each investor a new Air Selfie, at least it will free up some room at AEE.
"IOT currently has 1,700 ROVA units in inventory and has placed a deposit of $450,000 for 15,000 units of AirSelfie, this level is likely to be insufficient to meet the anticipated orders from existing clients over the short to medium term. "
Seems the AEE deal has a 20% dep requirement, so IOT will still owe $2,250,000 less $450,000 = $1,800,000 in the hole.
Better make sure they can sell 15,000 units and quick sticks, again asking AEE to produce without actual sales, the mind boggles.
Deary me.
IOT Price at posting:
1.3¢ Sentiment: Sell Disclosure: Not Held
