RE:MDA ExcerptMore interesting excerpts from the MD&A:
"These Cellular beacons 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"
"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 expand its marketing reach with a minimum sales force and therefore keep overheads low."
"On November 14, 2018, the Company signed an agreement with a provider of IoT solutions to construction companies in US, for 10,000 Mobile IoT units with in the first 12 months."
"This decrease resulted due to additional costs related to meeting deadline for some high-volume shipments during the quarter." [i.e. overnight shipping charges]
"On November 19, 2018, the Company got approved for a Revolving demand facility of $250,000 by major Canadian bank. The Company has not yet used this facility."
"Owen Moore, CEO and Co-Founder, stated, "We are very pleased with the results of our new M-IoT solutions. To date, the Company has signed agreements or received purchase orders in excess of 53,000 units in North America since the launch; which generates both one-time and recurring revenues. These purchase orders encompass repeat orders from existing channels and new distribution partners. Additionally, we look forward to expanding the offering into the European market in the coming months".