'We'll see next quarterly which I'm guessing will be worse than the last quarterly....'
Surely you are kidding.
You do realise that the March quarterly report included total outflows of over $4.1m...?
By contrast, estimated outflows for this June quarter are $1.013m. i.e. less than 25% of total March outflows. The June estimate includes an R&D Tax rebate of $0.961m which has been confirmed and received.
Now let's look at the expected improvement to inflows (receipts).
March quarter: $2000
June quarter company estimate: between $0.5m and $1m (I assume they mean AUD). This is not company fluff talk and was confirmed in response to the ASX's 4C query earlier this month. It also makes sense given that 2600 ROVAs were sold to retailers during the March/April period.
Therefore the cash burn for this quarter should be negligible, certainly no worse than $0.5m and that assumes receipts come in at the bottom end of the company's estimate.
Also it is worth noting that the SP fell from 2.3c to 1.7c immediately after the horrible March quarterly result was announced, so once the market sees a 5-digit percentage increase in receipts (yes you read that right), then the SP should easily recover to the high 2 to mid 3c range at least (a 50% - 100% gain from the current SP).
The smart (but silent) ones who already know all of the above have been mopping up shares at or under 2c in the last few weeks, while the majority of posters on here are still whinging, whining, mocking, comparing and convincing themselves that the ROVA won't sell at all. IOT don't need to sell a million units of the ROVA, but there is certainly potential to sell over 50,000 units this calendar year.
As the Tom's Guide review pointed out,
'The Rova Flying Selfie drone does what it claims to do, taking decent images and video of the user quickly and easily. Once you get the drone airborne, it flies well, providing a steady platform to take selfies while avoiding objects and people.'
In my opinion that's good enough for IOT to concentrate on selling and marketing this to the mass market i.e. novice and first time users who are looking for something safe to use indoors with a price tag under US$300. American middle class mothers and daughters in particular are a good target market for this drone.
Similar deal with the AirSelfie, certainly not the greatest mini drone in the world but it is unique and looks appealing enough as a phone accessory / novelty item for IOT to chase some half decent revenue this calendar year, particularly leading into Xmas. This You Tube review gave me a laugh...
And another (see....it works fine
)
Lastly, would expect to see an announcement regarding new accounts with confirmed purchase orders for ROVA and AirSelfie in the near future. As per the early May Operational Update
'All Accounts are now ranging for the pre-Christmas period and Purchase Orders are now being received for Q3 delivery.' And I wonder when they'll announce their new account with Harvey Norman?