"The company also notes that as a result of the recent launch of...

"The company also notes that as a result of the recent launch of the Apple watch and the successful IPO of FitBit in the United States, there is significant interest in the projected growth of the Wearables market globally. Nuheara is in the process of developing an innovative audio wearables product that seeks to capitalise on the heightened interest in the wearables market."

Nicely put.

For those interested, FitBit also started in Silicon Valley in 2007.

It is now worth about 4 billion dollars.