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- HomeStay Care (HSC) has reported it has more than $430,000 cash after its January sales
- It has strengthened its relationship with Essence APAC upgrading binding heads of agreement
- The company has signed its first commercial contract commenced to provide assistive technology in the disability sector
- On market close, the company is down 20 per cent and is trading at 0.4¢ per share
HomeStay Care (HSC) has reported it has more than $430,000 cash after its January sales.
At the end of last year, the company received $22,000 in cash from sales. In the current quarter (Q1 2020), it has received more than $430,000.
It has continued to strengthen its relationship with Automation Australia, trading as Essence APAC, with a number of amendments to its binding heads of agreement.
The company uses the Essence APAC internet of things (IoT)solutions to configure its intelligent homes, which allows the company to create cost efficiencies and further support customer deployments.
HomeStay assistive technology program allows elderly and people living with disabilities to live independently in their own home for longer.
The company continues to integrate with the Essence APAC and accrued as of the company revenue, under the licensing arrangement.
There are a number of projects underway after the successful integration, such as growing its sales pipeline and delivery of assistive technology.
During the December quarter, the company commenced its first commercial contract to provide assistance with the disability sector after signing Enliven Housing.
Enliven Housing, part of the Enliven Group, is specialises in disability accommodation (SDA) registered housing, catering for people assessed as requiring high physical support.
“The company is pleased to work with Enliven Housing on the initial project and looks forward to developing further tailored solutions for further clients with disabilities that may require unique fit for purpose technology,” HomeStay said.
HomeStay believes that the contract value is not considered to be financially material. However, it does prove the concept for Essence APAC IoT solution is a next-generation platform.
The platform allows clients with improved independence and autonomy while providing alerts, notifications and transparency to carers, family and providers.
In this quarter, the company aims to commence rollout on another project with Enrich Living to supply and install technology to 120 residents.
On market close, the company is down 20 per cent and trading at 0.4¢ per share.
