BUD: Where are we?

Since announcing the Buddy Ohm in March, and the release in June, the BUD team has:

1. Deployed the first 1,000 Ohm hardware units (looks like they 'sold out' the first batch in ~1 month)
2. Achieved >75% conversion from trial to contract (to date)
3. As of 31 July have minimum $23m guaranteed revenue (Ohm)
4. As of 31 July have >$6m cash with a further $5.4m by November via option conversion
5. In light of this high cash reserve management have confirmed there is no CR plans, nor a need to/will ever need to (Instos forced to buy on market for a seat at the table like the rest of us)
6. Steady cash outflows of $3m per quarter
7. Two Ohm distribution deals:
(a) with Digicel in the Caribbean (exclusive) and
(b) with ICE in Australia (non-exclusive)
8. Digicel is only offering max price 3 year contracts (i.e US$1,500+ per month per Ohm) (so even with a 50/50 revenue split this is massively profitable for BUD)
9. All evidence to date suggests the demand for Ohm has been staggering, as highlighted in the webinar one client alone wishes to purchase 80 Ohms (That's A$1.84m p.a revenue from one client)

Pipeline:
1. More Aus distributor deals
2. A US distributor deal
3. New Buddy platform product
4. October Quarterly and initial revenue figures (but the more accurate indicator will be the Q3/Q4 Quarterly)
5. Options conversion and more cash in the bank (November)
6. Cash inflows of ~$5m per quarter from the Parse platform, beginning January 2018
7. Further 'material' growth in the main Buddy platform for H2 2018
8. M&A
9. Acquisitions
10. ASX Top 300/200 (more institution exposure, etc)
11. NASDAQ listing

Lots more good news to come and the next 12 months look very positive indeed.

MASSIVE congratulations to Dave and his team again!

GLTAH.