General, page-487

I forgot to add that AJX’s financials also point to the major customer being Serta, imo.

Tempur launched its new Breeze mattress brands (using PureCool and PureCool Max technologies) in January at the Las Vegas Market and these mattresses were shipped and in store by April. Serta didn’t have a major new launch at this year’s January market.

Receipts for AJX were only $1.174m in the Jan-Mar quarter. Had AJX been the supplier of the cooling tech to Tempur, we should have seen higher numbers in that quarter, imo. In fact, on 28 February, it was stated in the AJX Half Yearly Report “We have yet to see the ramp up increases from our major customer”. This followed the forecast in late 2018 that AJX would reach positive monthly EBITDA on an ongoing basis in CY 2019, driven by volumes associated with CY 2019 product launches.

Contrast receipts in the Jan-Mar quarter this year with those for the same quarter in 2017, when Serta launched the iComfort with Tempactiv. In that quarter, Alexium’s receipts were in excess of $6 m, driven by a major ramp up in orders of AlexiCool.