SPA why the market is getting excited..Simon Crowther: ......

SPA why the market is getting excited..

Simon Crowther: ... Previously, prior to me joining, the company was very hardware-centric. Essentially, the business was just selling (10:29) hardware with no reoccurring revenue. This time around, what we've been able to do is to be able to negotiate a deal with a key or leading telco partner (Elisa in Finland) whereby not only are we offering good distribution in terms of our wearables devices, but also reoccurring revenue linked to app usage in that particular market as well. So it's a very attractive deal from the outset with a high (10:51) quality partner and generating positive cash flows into the business from the outset. So there's a lot to like about that particular deal, not least the fact that it's very cost effective for us to be able to kind of put those deals in place. We don't have to have people on the ground, we're not carrying significant overheads, and it's highly scalable.

Andrew Musgrave (11:11): Okay, and are you looking to do any other expansion into other European countries?

Simon Crowther (11:16): Absolutely, and we want to be an international business. I think that it's all about sequencing and priorities. It was important for us to be able to test not only our internal processes and supply chain and various other factors to be able to make sure that our initial revisiting of the Finnish market was successful and has proven to be successful, (11:37) which is good, and now, on the back of that, we are looking to expand into other markets in Europe, for sure, but also into the North American market as well.