- Joined
- 3 May 2019
- Posts
- 6,321
- Reactions
- 9,982
Just Announced.
ASX MARKET RELEASE
LIFX Announces World-First Disinfecting Anti-Bacterial Smart Light
SUMMARY
● LIFX Clean is a fully functional white + colour smart light that also uses germicidal antibacterial light to disinfect surfaces and surrounding air
● In a smart lighting world-first, by using 405 nanometre High Energy Visible (HEV) light that is safe for humans, pets and plants, LIFX Clean offers an effortless way to
maximise the cleanliness of home environments
● LIFX Clean has passed efficacy testing in laboratory testing conducted by the
Department of Chemistry and Biotechnology at Australia’s Swinburne University of
Technology, as well as IEC and safety testing at UL Verification Services in Guangzhou
● Whilst LIFX Clean is currently in the testing queue for efficacy against the SARS-CoV-2 virus (which can cause the COVID-19 disease), no claim is currently being made that
the product is effective in an antiviral capacity of any kind, including on SARS-CoV-2
● Priced at A$99.99 / US$69.99 / CA$79.99 / €69.99 / £59.99, LIFX Clean is an affordable
and accessible new anti-bacterial product, providing broad access to consumers in a time of enormous demand for cleaning products. It is expected to be released to the
market in calendar Q4.
I feel like this is one of those ones we have to sit on, have go nowhere for weeks, then explode 20+% in a single day, then have nothing happen for weeks again, rinse & repeat.
Thank you kind sir, but I only played my filial duty as a dedicated ASF member.Well done frugal!
Don't know how to compare them other than that?
Also recorded the largest volume traded today, since the birth of Buddy...Top mover on Westpac small caps today, by far!
I am not expecting any big retrace.
Weak hands have been dealt with today already. Cheers.
SUMMARY OF OPERATIONS
Total customer revenues for the year ended 30June 2020 were $31.0million, increasing $22.1million, or 248% from $8.9million in the previous year. This increase was primarily the result of the addition of the Consumer Business which totaled $28.3million for the year ended 30 June 2020 (compared to$6.5 million in the previous year) and, to a lesser extent, growth in Commercial Business revenues which totaled $2.7million for the year ended 30 June 2020(compared to $2.4 million in the previous year).
Many of the operating expense items increased during the year from the addition of the Consumer business, most dramatically cost of sales, advertising & marketing expense and employee benefit expense.
The net loss for the year totaled $45.3million,which increased from a loss of $27.4 million in the prior year. The 2020 loss included a write-down of intangible assets of $18.6million, $8.9million of non-cash based expenses (including depreciation, share based payments, amortization option based payments and deferred income tax benefit), $1.9million of expenses related to refinancing and the acquisition and $5.6million of interest expense.
Interest expense includes $4.4million of accrued and unpaid interest. This is primarily the result of several debt agreements entered into as part of the acquisition (described more in Note 5). The agreements were for a) the assumption of existing LIFX lines of credit,and b) deferred consideration for the purchase price itself.
Share based payments represent the value of employee incentive performance rights that the Company issues as part of every employee’s compensation plan and totalled $2.5millionin 2020–an increase of $1.5million from $1.0million in the prior yea due to new grants made to employees and a full-year of vesting for acquired employees.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?