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CONNECTED MINERALS LIMITED — Capital/Financing Update 2017
Jul 31, 2017
64669_rns_2017-07-31_4d05ed7b-956d-4261-975a-4aea6bdfa911.pdf
Capital/Financing Update
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1 August 2017
ASX Announcement / Media Release
Over AUD$600,000 in new Purchase Orders received by CIO
HIGHLIGHTS
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Multiple Purchase Orders received from new and existing customers totalling over AUD$600,000.
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Orders represent a significant start to the quarter and demonstrate continued momentum for the company.
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Forecast orders exceeded by US based Cyber-Security customer as they reach 60%+ of original LOI
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CIO confirm an increase of Purchase Orders received from first time users
The Board of Connected IO Limited (“CIO”) is pleased to advise that the Company has recently received a combination of Purchase Orders (“ PO ”) totalling in excess of $600,000 via its ongoing relationship with Verizon USA.
The orders signal further continued momentum for CIO and give the company confidence as it moves towards the next level of targeted revenue growth.
The orders received have been generated via the Verizon enterprise agreement (announced 8 February 2017) and include new and existing customers expanding the CIO relationship.
Two further PO’s have been received from CIO’s US based Cyber Security customer, who has again extended orders against its LOI (further to ANN : CIO 23 March 2017) indicating its continued confidence in the company’s product.
Connected IO Limited ABN: 99 009 076 233 Level 24, 44 St Georges Tce, Perth WA 6000 T +61 8 6211 5099; F +61 8 9218 8875
In addition, new customers have finalised PO’s totalling approximately 13% of the $600,000. This demonstrates ongoing penetration and sector growth as the CIO product range continues to integrate into many varying Machine to Machine (“M2M”) applications.
CIO continue to work closely with increasing customer opportunities and expect further Purchase Orders to develop.
CIO CEO Yakov Temov said “The Internet of Things (“IoT”) market is expected to grow from USD$170 billion in 2017 to in excess of USD$560 billion by 2022 with an annual compound growth rate almost 27%[1] . Cisco predict over 50b devices will be connected to the internet by 2020 supporting huge expansion in M2M applications, and further significant growth opportunities for CIO.”
About Connected IO Ltd. (CIO)
Connected IO Limited has its operations based in Silicon Valley, in the USA. Its business is a wireless technology innovator and manufacturer operating in the multi-trillion-dollar “IOT” (Internet of Things) sector. CIO specializes in machine to machine (“M2M”) connectivity, providing hardware and software solutions to some of the world’s largest companies – including Coca Cola, Verizon and AT&T. CIO’s software solutions also include a customised cloud management interface and a variety of support services.
For further information please contact:
Yakov Temov (USA) - [email protected] Jason Ferris (Aus) – [email protected]
Connected IO Limited ABN: 99 009 076 233 Level 24, 44 St Georges Tce, Perth WA 6000 T +61 8 6211 5099; F +61 8 9218 8875