Ann: Quarterly Report, page-86

Long time follower of DW8 but currently don't hold.

I guess the most important question here is: what's included in "product manufacturing and operatingcosts". I'm sure both holders & non-holders are interested to know why the product manufacturing and operating costs have been much higher than receipt from customers for the last two quarters. Yes we know it's a start up and of course you can't expect them to make a profit now, it's just unrealistic.

Perhaps you can argue economies of scale, upfront one-off manufacturing investment, setting up logistics...etc as reasons. But the fact is DW8 need to improve its efficiency and find cost cutting measures to improve its margin and eventually, profit. As someone else has posted, the past operational/manufacturing costs have been 246k, 850k and 902k. The only plausible/positive explanation to increase in costs is DW8 gearing up its capacity for its B2C.

It's not difficult to see why many are surprised to see this quarterly which has cash outflow of nearly $1.6m, when market is currently valuing it a staggering $240M. Obviously market has factored in the potentials for the upcoming B2B launch but now there's more pressure for it to deliver what the Board has promised.

Personally I believe it's overvalued at $240M based on the current financial metrics and a large portion of the valuation is betting on an exceptional launch and success of B2C. That's just my view.

GLTAH and DYOR