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Added 4 months ago

31 January 2020

Redflow December 2019 Quarterly Report

Highlights

  • Sales  gaining  momentum with $316k in follow  up  orders delivered to strategically  important customers  Vodacom(through telco partner  Mobaxin  South  Africa), Western  Australian  partner TIEC and Rural Connectivity Group(through new partner SBS in New Zealand)
  • Deployment  to  Vodafone  has  enabled  Redflow  to  significantly  progress  engagements with a number of telco tower companies and mobile operators in the African region
  • Redflow  was  selected  by the Rural  Connectivity  Group in  New  Zealand to  provide  batteries for new cell sites in rural locations
  • Experienced Sales Director hired to promote Redflow and secure new customers in South Africa
  • Material  progress made  with  engineering  projects  to  deliver  lower  cost  batteries  and implement enhanced theft mitigation features
  • Confirmed orders for  over  50 batteries, expected to be largely delivered during the March  2020 quarter
  • Cash receipts up  282%  on  prior corresponding  period  to $1,050k(Q2FY2019:  $275k).  Trade receivables of $490k
  • 31 December 2019 Cash balance of $5.0 million, with an R&D tax rebate of $2.0 million received in January 2020

 

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