AGM – if I think of anything else I will add it. For those who attended could you post any corrections or add anything I missed.
Could not record the meeting as I was in the wrong part of room and Sal’s voice was did not carry that well.
Total of about 45 in attendance. Wayne was present.
Probably about 10 were yowie board, senior managers, etc. Came over well.
About 35 others of which about 1/3 appeared to be in some way associated with the company (auditors, etc.). At least a couple were not shareholders and probably were there for the chocolates.
The question time was quite short and I thought cut short, although I managed to corner Sal for a few minutes after the meeting.
All resolutions were passed, although there were a lot of “Against”.
The additional wrapper will be available for production in a few weeks.
Sales for Oct were, I think the word they used was “good”. This was Sal talking, not Wayne.
The reason why they selected San Antonio and Chicago for their first intensive marketing campaign was that San Antonio is in Texas and where they first started selling Yowies. Chicago is a relatedly new area. Aim of the programme to test marketing in more mature Vs new areas. Initial indicators “fantastic”.
Aim to get 6 weeks demand in warehouse, “currently nowhere near this”.
There has been a change in the recipe - the chocolate in Madelaine is milkier compared to that produced previously.
Angry Birds experience and success was used to get into Yo Kai Watch.
Yo Kai Watch has a large number of characters (~250) and if successful could go on for years.
2017 Canada.
Emphasised that yowie is a growth company. Possibly profitable in 2018.
No plans to raise additional funds.
Gross margins in the 50s verses industry average in 40s.
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