With Livery taking on his role of Executive Chairman from the 1st of September, it's reasonable to expect accelerating growth from there, further to what's already showing:
Revenue and cash position:
The Company generated $375,000 in cash receipts during the period, a substantial 733% increase from the previous corresponding period (Q4FY17: $45,000) and a 96% uplift on the previous quarter (Q3 FY2018: $191,000). This is attributed to the Company’s agreement with API, a broadened distribution network through key banner groups, the introduction of new products and key daigou relationships.
Bod Advises that it remains well funded, with a cash position of $3,115,000 at the end of the quarter.
Management commentary:
Bod Australia CEO Jo Patterson said: "The Company has continued to make significant progress on a number of fronts.
"During the quarter we have increased our distribution network through agreements with API and Symbion, and now have access to over two thirds of the pharmacy market. We are beginning to witness greater penetration of our products through a growing network and expect to witness additional uptake in the coming months.
"Further, the Company has recently commenced Phase I Clinical trials, as well as packaged its medicinal cannabis oil into a finished product ready for sale, leaving Bod well placed to unlock additional shareholder value
"The Company remains in a period of transformational growth and we look forward to updating shareholders as the quarter progresses."
