– Successful $12 million capital raising, with strong demand from leading institutional and sophisticated investors. The Company is currently debt free, cash flow positive and profitable. – Record sales revenue of $4,020,000 in the March 2020 quarter, with revenue for the nine months to 31 March 2020 of $7,250,000. – Booked revenue for the month of April 2020 (Q4 FY2020) in excess of $4,150,000, with more than $2,000,000 of additional orders received. Revenue run rate for FY2020 is now in excess of $13,000,000. – Growing improvement in gross margin (48% in March 2020 quarter, as against 37% for FY2019) due to increased mix of higher margin Aeris-branded products. It is anticipated that with increased production efficiency, the Company’s margin will continue to increase. – Cash receipts of $4,017,000 for the March 2020 quarter. Positive net cash from operations was an increase of $1,052,000.
