Ann: Annual Report to shareholders, page-37

Whilst waiting for the quarterly report and the next strategic initiative I got to thinking about how far we have come in the last couple of years and the foundations the company has been building to support much stronger growth going forward.

Our MD never ceases to surprise me when his next move is revealed.

Exiting the Chinese market and the Power Eagle business to concentrate on the emerging International opportunities was a surprise with a lot of short term negatives. Freeing Charles up to concentrate on building Vmoto into a market leader was the compensating win.

The journey thus far has involved
* Strategic alliance with Super Soco
* Ducati Badging
* JV manufacturing deal which turned the Alliance with Super Soco into a Contract that transferred rights to use the Super Soco patents and moulds for no cost and the right to distribute Super Soco branded products Internationally in exchange for Super Soco gaining the rights to distribute Emax products in China.
* Relaunching the Vmoto Brand in collaboration with C Creative (C for Castiglioni)
* Introducing Vmoto premium to have a directly owned product line to sell to the retail market through the distribution network with the launch of the Stash and re-direct the product image away from Super Soco back to Vmoto
* Introducing Vmoto Fleet to replace Emax and again re-direct the product image back to Vmoto
* Entering a strategic partnership with Giovani Castiglioni and Graziano Milone and bringing them in as a potential substantial holder group to broaden the depth of the management team with a lot of skin in the game in association with getting full ownership of the Italian Distribution company.

One thing that is worth noting is the fact that the international Distribution Network in the beginning was more about providing a service network for the B2B bikes that are sold in the most part direct to the commercial customers by the VMT sales team than selling Electric bikes to the retail market when there was only a small amount of interest at that level.

Now that government subsidies and market acceptance is growing, Vmoto premium has been launched to build sales of vmoto products in that market.

Whilst there will be a powerhouse of growth due to the switch from ICE to Electric VMT should benefit by turbo charged growth with the addition of Vmoto Premium to the Vmoto Soco range and entering the new markets that are on its radar.

Fingers crossed the market will catch on to the growth potential. Its not putting any value on it at the moment.