IOT (ASX) Ann: First production order for ROAM-e placed-IOT.AX

Originally posted by jantimot ↑

I suppose that the negativity towards the stock might just be that they weren't telling the truth earlier, when they said on June 8th that the ROAM-e was in the final testing and tuning stages. That was clearly not the case. Why would anyone believe what they are telling us now?

The whole announcement is fluffy. They've been working on this for at least a year now, since they announced last September that the flying selfie would be in the shops last Xmas, so in terms of the 12 month timeframe what exactly does "substantially complete" mean? 75%? In which case there would be another 4 months work required. Although with new technology, you can't judge how long each hurdle will take to overcome (ask Lily, Sprite etc.). Presumably "well advanced" and "well underway" are less than "substantially complete", but who knows.

And, what is auto take-off and landing? I can't recall seeing this feature before except as a possible refinement later, with the bell shaped base. Why is this now required for the initial product? How does it work?

I see they've changed the design again. All the flying ones they've shown us have just been superseded, as in the announcement that you quote from they are saying that it now has a 360 degree camera, whereas the models we've seen definitely didn't have those. A 360 degree panoramic shot isn't the same thing.

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I wonder if they decided to go for auto take-off and landing because it's too dangerous catching by hand. With those massive blades it could definitely take someone's eye out (especially for kids) or give them a nice haircut. Besides they'll probably run into certification issies as I cannot see how this could be deemed safe to use.
And who's responsible for flight control software at IOT? The team at lilly seem to have a lot of credible engineers and yet they struggle to get it to perform. Who has IOT got?

@Londoner the only potential revenue stream for this Co appears to be coming from a flying selfie - which does not even work. Those so called production orders really mean nothing. How can you even start producing something that hasn't been proven to work adequately? For which there's currently a lot of competition that does work?
So they'll most likely just waste more money trying to set up production for it.

They really seem to have absolutely no idea when it comes to technology and innovation.
Gotta give them credit for raising so much money with nothing to back it up. That was quite impressive. Makes me wanna set up my own iot company!

If someone could give just one good reason why IOT is investing material (except for money in the bank which won't last that long) I would love to hear it?