Owen stated at the AGM that the YOY revenue target was 50%
AND HE MET THE TARGET in Q2!
If he does so again, Q3 should bring Bew very close to break even!
Hopefully a wee more colour in the press release.
I share your satisfaction Sportsguy. I also agree with the poster who opined that this release will not bounce the stock price .....................but it should stable it and it gives me comfort.
The Company develops mobile applications, middle-ware, and cloud-based solutions that stand-alone or that can readily integrate with existing software. Its solutions enable end-users a level of operational visibility that is more easily accessible and significantly easier to implement than in the past. IIOT industrial sector, specifically the B2B sector is expected to double in size by 2020 as per analyst forecasts. A range of new users are entering the market as low-cost location-based data solutions come available as an alternative to high-priced traditional solutions. As BeWhere is one of the early entrants and at the cusp of launching new low-cost, low-powered products, the management believes the Company is well placed for growth. BeWhere is partnering with the major telecommunication providers in bringing the new product and application solutions to the market which will expedite the sale process. Our innovation lies in the ability to allow manufactures and clients to connect their own sensor to BeWhere hardware which delivers data over the cellular network without having to design a cellular device. The Company already has client base in verticals such as transport, construction, utilities and municipalities. As BeWhere’s hardware and applications allows clients to bring their own sensors, the Company can capitalize on untapped market.
The following were key aspects for the three and six months ended June 30, 2018 Business update BeWhere M-IoT devices are small rugged devices, powered either by two long-life AA batteries or solar energy rechargeable. As they are self-powered, they are simple and quick to install, without any additional electrical wiring. They are configured to report their internal and external sensor data and GPS location to BeWhere’s servers via the M-IoT networks. Users can view and manage the information as well as edit their reporting frequency to match their requirements through easy-to-understand dashboards. The solution also supports alarms and warnings that can alert users in real-time. These Cellular beacon as a disruptive and new innovative product has quickly seen traction within the transportation and construction verticals. Transport equipment has been tracked for decades with limited market penetration due to high cost factor but our price model overcomes that hurdle. During this quarter, the Company launched its M-IoT product line and was awarded a 20,000-unit order, as previously announced. The Company plans to deploy these units in 2018. The Company continues to focus on its strategies of enabled growth by working on developing partnership with fleet management companies and service providers in North America. Our strategy of working with partners, who have existing relationship with the end users, is already paying off as it greatly diminishes the sales cycle. This strategy allows BeWhere to operate with a minimum sales force and therefore keep overheads low. Subsequent to the quarter ended June 30, 2018, the Company has signed a contract with a US distributor of navigation equipment who has committed to 10,000-unit order. The Company plans to deploy these units in 2018. The Company is very encouraged with recent wins and continues its efforts to convert its sales opportunities to revenue by closely working with its customers.