- Wireless technology innovator, Connected IO (CIO) has achieved current cash receipts from customers for the December quarter so far of A$850,000
- Current revenues from invoiced and shipped product, as at 5 December, total $250,000 for which will be paid by the end of the December quarter
- The company has entered three new sectors which increases the addressable market for the sale of its products and solutions
- Connected IO is down by 25 per cent with shares trading at 0.3 cents each
Connected IO (CIO) has achieved current cash receipts from customers for the December quarter so far of A$850,000.
Current revenues from invoiced and shipped product, as at 5 December 2019, total $250,000 for which it expects to receive payment by the end of the December quarter.
Connected IO is a wireless technology innovator and manufacturer operating in the Internet of Things (IoT) sector.
Specialising in in machine to machine (M2M) connectivity, CIO provides hardware and software solutions to globally-recognised companies.
The current quarter has also seen new additions to Connected IO’s customer portfolio. However, it has affirmed the most significant achievement is the company’s entrance into three new business sectors in the U.S.
The company has entered the Managed Service Provider, Quick Service Restaurant and Beverage Logistics and Delivery sector.
Entering these markets increases the addressable areas for the sale of CIO’s products which include routers, modems and various solutions.
Additionally, entering these sectors demonstrates the growing IoT market awareness of Connected IO even though this was achieved with a small sales and marketing team.
The strong cash receipts achieved so far this 2019 calendar year now totals $3,745,000.
Connected IO is down by 25 per cent with shares trading at 0.3 cents each 12:23 pm AEDT.