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CONNECTED MINERALS LIMITED — Capital/Financing Update 2017
Mar 22, 2017
64669_rns_2017-03-22_5a32af61-cacd-40d6-b940-6a9670e9c980.pdf
Capital/Financing Update
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23 March 2017
ASX Announcement / Media Release
ADDITIONAL PURCHASE ORDER REINFORCES CIO’S WIRELESS COMMUNICATIONS SOLUTIONS
HIGHLIGHTS
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CIO receives additional purchase order for US$207,000.
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Customer has indicated further monthly purchase orders of approximately +US$125,000 can be expected through 2017.
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Reinforces CIO’s building revenues across a scaling customer base.
Connected IO Limited (ASX: CIO) (“ CIO ”) is pleased to announce that it has received a further purchase order of US$207,000 from a US based cyber security company which provides managed security services for some of the largest restaurant, retail, grocery and healthcare franchises in the US.
The purchase order received is deliverable during April and forms part of an executed Letter of Intent previously agreed with anticipated monthly orders expected of approximately US$125,000 for the remainder of 2017. These sales provide recurring revenue for CIO product purchased, along with potential for additional revenue from cloud based management of these units sold.
The Company continues to increase its revenue from quarter to quarter with a 521% increase during the September quarter and 126% increase during the December quarter. The Company has already surpassed December quarter sales revenue and remains on track to achieve another significant percentage increase from the last quarter.
CIO CEO Yakov Temov said “The purchase order reinforces the Company’s wireless communications solutions and strengthens key commercial relationships for the Company.”
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
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. Cisco predicts there will be 50 billion connected devices by 2020.
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