IoT Group, an Australian consumer technology company that is set to become the first ASX-listed internet of things business through an $18.5M reverse listing through Ardent Resources, recently signed an agreement with Terrapin Ventures based in California for Terrapin to act as a Non-exclusive Agent for sales and distribution of IoT products.
So who owns Terrapin Ventures?
None other than Paul Tobin.
So this (no exclusive) agent also is the lead manager of the IOT GROUP USA and I'll bet my bottom dollar he also has the mysterious 30% shareholding in IOT GROUP USA LLC.
As per the 2016 financials, that company also received $270,000?
Tobin was the one who spent the first 6 months looking for a distributor back in Roam-e days and found none other than Corbett, the guy no one can find anything about his company on, yet he is/was the largest best distributor ever, oh other than he sold Sony walkmans back in Duffells only day in the sun (but no relation or friendship there of course) .
Its alarming given the majority of drone sales are US based and someone is taking a 30% share IMO.
That's another 30% shareholders give up.
AEE → IOT GROUP → Outsourced Marketing →IOT GROUP USA → Distributor → Retailer
A lot of mouths too feed for one measly drone?
IOT Price at posting:
2.1¢ Sentiment: Sell Disclosure: Not Held
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