AGM - Brief summary

Hi guys

I attended today’s AGM and took some notes. A brief summary of what IMO transpired is provided below:

1. All motions were carried.

There was then an opportunity for some Q&A.

1. DD is progressing well. The Board anticipate that it will be completed by 30 November 2015. An extension is unlikely to be required.

1. The company is share price driven. The product is ready for deployment and a business development task force is being set up to focus on early revenue. Announcements will be released as appropriate and there may be material announcements in the future.

1. A question was then asked regarding the identities of the strategic investor and the PACT collaborator. The Chairman did not mention names.

1. Chris Wood then provided a brief synopsis of the Xped technology and his vision for the company. All of this information is available on the Xped website.

1. Competitors in a similar sector of IoT such as Google Nest were then mentioned. Chris Wood argued that Xped’s technology is superior as it offers a universal standard and does not tie consumers to particular smart goods.

1. The company restated their intention to licence Xped technology rather than manufacture it. The online store merely allows entities to trial some of the tech prior to licensing. More than 300 units have been sold.

1. Connexion was raised. The Board remained fairly tight lipped.

1. The Board does not anticipate that further CRs will be required after the prospectus CR as there are plans for early revenue.

I would like to emphasise that the Chairman stated IMHO that ‘no contracts have been signed’.

1. Chris Wood indicated his desire to create a local IoT ecosystem in SA.

1. There was then some discussion about the PACT deal in Singapore. I have decided not to make too much of a comment here as there are already differing views about what was said here on HC and I do not want to add to any confusion.

1. The company are pursuing an aggressive strategy in the US with meetings organised.

I was very impressed by how the meeting was run and the Board in general. There was a very bearish atmosphere in the room and I think the company is on an excellent path with great leaders.

That being said, DD remains a significant risk and no contracts have yet been signed.

I think we might all do very well as shareholders!

The above is only my opinion and may not in fact be an accurate record of the events at the AGM. None of the above is advice and should not be taken into account when making an investment or any other decision.