- Cirralto had a busy September quarter as it ramps up its project plan with swimming pool leader Clark Rubber
- The companies signed an agreement for Cirralto to supply a solution called Poolbox, to create a closed network marketplace between a distributor and its retailers
- To promote this platform, the company sponsored three Swimming Pool and Spa Association award nights during July and August
- Simultaneously, Cirralto partnered with fin-tech company Invigo to share their channels and optimise customer offerings
- Cash receipts for the quarter totalled A$215,000 and total cash closed at $84,000
- Cirralto’s shares are unchanged today and trading for 0.8 cents
Cirralto had a busy September quarter about marketing and business development and, particularly, its project plan with swimming pool leader Clark Rubber.
Cirralto and Clark Rubber have been working to formalise a project to rollout Poolbox across 60 franchises within the next three months.
On September 10, the companies signed a software licence and service agreement for Cirralto to supply a market technology solution, like Poolbox, that creates a closed network marketplace between a distributor and its retailers.
This was a significant milestone for the company as it marked the first licensing agreement with a large, national retail franchiser like Clark Rubber.
The project will comprise two parts, a Clark Rubber head office system integration and Poolbox deployment across all owned stores.
It will connect the shop, field, warehouse and head office finance teams in a single ecosystem to optimise “operational excellence.”
To promote the Poolbox platform, the company sponsored three Swimming Pool and Spa Association award nights during July and August.
As a result of these events, Cirralto has engaged in commercial discussions with one of Australia’s largest spa manufacturers to supply a modified version of Poolbox.
In August, Cirralto partnered with fin-tech company Invigo to share their channels. The integration of platforms provide Cirralto’s customers with access to Invigo’s early payment facility, and Invigo’s customers to Cirralto’s vertical market technology solutions.
The first phase of integration has commenced and Cirralto expects the partnership to add transactional revenue streams.
To support ongoing works, Cirralto’s major shareholder, Goldfire Enterprise and licensing partner, Appstablishment, have jointly agreed to provide up to $1 million.
Cash receipts for the quarter totalled A$215,000 and total cash at the end of the quarter was $84,000. Work in progress continues to average between $150,000 – $200,000.
Cirralto’s shares are unchanged today and trading for 0.8 cents at market close.