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31/08/18

12:44

Post #: 35325110
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Originally posted by Goblin ↑

MWR

The Company is pleased to report that during the period substantial progress was made in the SPACETALK rollout. This success has positioned the Company to be at the forefront of one of the highest growth consumer product categories – Wearables. Since launching SPACETALK in October 2017, sales performed beyond the Company’s expectations despite being limited predominantly to a single channel - the Company’s own website – allmytribe.com and our brand being almost completely unknown. Online sales grew through the year and have now, post year end, reached a run rate of $1 million p.a. Late in the reporting period the rollout to bricks and mortar retailers began with the addition of several stores from the Leading Edge Group stocking SPACETALK, experiencing sales and all placing reorders. JB Hi-Fi’s on-line store commenced sales after year end on August 5, with sales to-date exceeding everyone’s expectations. At financial year end, SPACETALK revenues accounted for 20% of overall revenues and we forecast they will exceed school communication revenues in FY2019; transforming the Company into a Wearable sector participant and exposing it to one of the highest growing consumer categories globally. This transformation brings about enormous opportunity and the Company is positioning itself to be the market leader with its best-of-breed product. Management continues to focus on expenses and costs even during this transformational and high growth stage. We maintain a positive EBITDA of $671k despite the significant development and investment costs with launching a new product of this magnitude, which is reflective of this conservative approach.

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Edit - The Company is pleased to report that due to @Goblin's efforts during the period substantial progress was made in the SPACETALK rollout.
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