Agreed. Well done
@Rokewa for piecing it all together.
I didn't want to believe payment terms would likely be at the +60/90 days... but that isnt unsual and it now appears confirmed.
For those having a go at management for whatever reason... reread rokewas posts and also consider that:
Best buys didnt start trial sales until 11 June. So probably fair to say if the first 600 sold well and another order was placed it might not have happened til july.
19 july it was confirmed first 2500 units were sold in first 6 weeks (would likely incl the 600 for best buys). This announcement also stated funds from earlier capital raise were being used to build up stock inventories implying their was a delay in restocking.
20 August quantum commenced sales via amazon.
5 September ADCO got involved.
18 September Vision Group joined the retailers.
Hence fair to say last quaters receipts arent necessarily a good gauge of sales in the quarter given extended payment terms pushed reciepts for the bulk of the sales activity which occured in the last half of the quarter into the next quater.
Does however imo confirm rokewa's suspicions the original buds sales have dwindled.
I do think commentary from the co is transparent enough imo if you care to read it all and interogate the numbers as Rokewa has done.
And the commentary in the quarterly also confirms management have elected to pursue higher margins in a tighter niche market with Boosts and have focused resources in that direction. So whilst i would prefer success in all products this is a prudent decision to focus on that which is likely to provide the best ROI.
Not really what i wanted to see, but also not particularly concerned. topping up
(20min delay)