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NEXTED GROUP LIMITED — AGM Information 2010
Feb 10, 2010
65463_rns_2010-02-10_0b7a0570-f0f4-4d96-bf03-7f97cd1100eb.pdf
AGM Information
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ASX/Media Announcement (ASX: DGI)
11 February 2010
Newsletter to shareholders
Digislide Holdings Limited advises that the attached newsletter to shareholders will be mailed out to shareholders today.
About Digislide
Digislide is an Australian based company that has developed, and continues to develop globally relevant innovative miniaturised projection technologies with broad applications.
The tactical focus is on targeting products/applications that can be embedded into a range of mobile and/or hand held communication devices, such as mobile phones, PDA’s and notebook computers. The technologies have wide patent protection and have already received international acclaim; winning several awards in important international technology arenas.
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Further information contact:
Hean Siew Company Secretary m: 0432 654 331 www.digislide.com.au
Digislide Holdings Limited ABN 75 105 012 066
PO Box 20 100-102 Cavan Road Phone 61 8 8262 3115 North Adelaide SA 5006 Dry Creek SA 5094 Fax 61 8 8262 8490 AUSTRALIA AUSTRALIA www.digislide.com.au
11 February 2010
Dear Shareholder
2010 is the year for global expansion.
Our IPO on 24[th] August 2009 raised just over $3.0M, which has facilitated the release of 6 new products to market, finalise optical engines for small display devices like mobile phones, and assist with the establishment of a market presence in Asia and USA over the next 24 months.
In just 5 months, we have lodged optical engine patents, and brought 3 new products to market. Early in January, Digishow™, WeSii™ and miniPRO™ were presented at CES (Las Vegas), USA the largest Expo in the world for electronic consumer goods. Each of our products captured significant interest from retailers and consumers alike.
Product Development.
We have now completed development on 2 additional products, DigiPRO™ and XRay™, with tooling now being finalised for production scheduled to commence early April.
The development of Digivision™ (docking station for iPOD™ type devices) is well under way, and we anticipate this product will be ready for Christmas 2010. Your company has already received strong expression of interest for Digivision™ from a high profile retail chain in the USA.
The company had planned to release 3 x VGA resolution gaming products in the following order: XRay™; StingRay™; and then WeSii™ (companion projectors and audio docking stations to Microsoft’s XBox 360™, Sony’s Playstation and Nintendo’s Wii™ respectively).
However, as we monitored the shifts in the console market from these three great competitors, we decided to introduce the WeSii™ first (VGA resolution), to upgrade XRay™ to an SVGA resolution, and to ensure we stayed well ahead of the market. We then designed StingRay™ as an SVGA stand-alone device with an ultra bright optical engine. Resultant expenditure allocations are set out in a Commitments Table lodged with ASX 31[st] January.
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Digishow™ is now being released into North American markets. All Barcodes and Logistics are finalised. Digishow™ is in over 120 stores in Australia, 3 in Singapore, and may be bought on line. We also aim to have Digishow™ listed in Amazon’s catalogue by late February.
miniPRO™ is being released to Australian and North American markets in February, with the first products shipped this week.
miniPRO™ is a USB projector, aimed specifically at laptop, notebook and netbook users. miniPRO™ is ideal for executives, professionals and sales personnel. To extend our exposure to that demographic
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we aim to have miniPRO™ featured in the QANTAS In Flight catalogue for all international flights (except Aust - New Zealand).
miniPRO™ will also be sold in retail outlets, and available on-line through its own dedicated website. It is our intention to have miniPRO™ listed in Amazon’s catalogue by March.
WeSii™ makes the Wii™ totally mobile! It sets the Wii™ free from the TV! Comprised of two discrete products:-
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a stand-alone VGA pocket projector which will interface with all games consoles, dvd players, digital cameras and any mobile phone with a composite video interface; and
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an audio system complementing the Wii™, but which will also interface with digital movie cameras, dvd players and other games consoles.
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The WeSii™ is a mobile “miniature home theatre”! The audio docking station has been designed with embedded sensor bars enabling it to interact with the Wii™ console. No need for the sensor bar OR the big screen!
Available on line and in Australian and North American retail outlets late in February.
Sales Revenues
Digislide is gaining traction in the marketplace in Australia, with over 120 retailers now stocking Digishow™, and many others committed to stocking miniPRO™ and/or WeSii™ immediately upon release.
Sales revenue for the December half year has increased by 300% over the reported revenue for FY 2009. Sales revenue for the 6 week period to date for the second half year is growing strongly.
The company anticipates being in the position to report further market connections over the balance of the financial year, similar to those recently reported to the ASX.
Special Shareholders Offers - February only and not to be repeated
To enhance product exposure and express our gratitude for your confidence in Digislide we are offering all shareholders registered at 15 February, 2010, the ability to purchase one Digishow™ @ $299 (RRP $399), OR one miniPRO™ @ $199 (RRP $299) OR one WeSii™ @ $399 (RRP $399 + $129). A $10 postage and handling fee will be charged on each shipment. If you want to take advantage of this offer, call 08 8262 3115, providing the name listed on the Share Register and your credit card and delivery details.
Digislide Americas - On 1[st] February, Ms Eilish McCaffrey, our US Vice President Sales, relocated to our new Digislide Americas’ office at the “Plug and Play Tech Center” in Silicon Valley. This is the incubator from which Google, and other famous brands, were launched.
Digislide China Operations – The announcement of the appointment of our Director of Operations, China, will be made soon. He will initially work in the Adelaide office, prior to subsequently relocating to Shenzhen, China. The Executive Team has already begun strategising towards joint development partnerships and other commercial opportunities in this region.
Digislide’s Share Price
Your directors and management are acutely aware of the fall in the share price since listing in August last year. To some extent the company has, like so many other Australian companies, suffered from the market forces and uncertainty in play at present. We have since the listing developed products, opened new markets, increased sales, and are now poised for significant inroads into the US markets all of which needs to be considered.
Institutional Investors and SPP
We advise that we are currently in the process of the share placement approved by shareholders on 22nd January to sophisticated investors and institutions. This placement if successful, would see an amount of up to $5M raised for the company’s growth. In parallel with this, your Board has listened to shareholders and accordingly has, today, announced to the market a Share Purchase Plan. This plan will enable shareholders to “top up” their shareholding in the Company at the present indicative price that has been offered to sophisticated investors under the current share placement program. Details of the plan will be forwarded to shareholders very shortly.
Sincerely
Luceille Outhred Jeff King Chief Executive Officer Chief Financial Officer