Positive operating cashflow in challenging COVID-19 trading environment (Q4’20: positive cashflow of $0.27M vs Q3’20 negative cashflows of $2.125M)
Human resource restructure and operational expenditure savings deliver significant cost reductions
Strengthened balance sheet with $1.5M cash equity raising, the conversion of $1.4M convertible notes, and a 16-month extension of $1.6M of convertible notes with redemption date now October 2021
MICRO19 JV license agreement established - with strong future sales pipeline
Immersion Clinical Spa network closed in COVID impacted environment. Options to extract value being explored
New sales channels and expanding distribution support growth in FY21
Jbronze to be sold in 800 Coles stores from mid-August. Forecast annualised FY21 sales of $2M+
$1.7M in purchase orders for ELLE & MICRO19 ranges in Asia via new distributor
WNB Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
