Had a good chat with the CEO and went through several aspects of the business..
1) average 70% gross margins across all products
2) expects to be cash flow positive next quarter
3) Woolworths are pleased with current rate of sale and product has only made it to 300 of the 900 stores so far
4) expecting sales momentum to increase as the year progresses with many more distribution agreements to come
5) Asia is the main focus as provides the biggest growth opportunity.
6) has not spent any of the $10m but looking at strategic acquisitions which will be earning accretive.
7) shares got off to a slow start as some of the shell shareholders from gold search sold out
Look forward to next quarterly and update..but setting up for a good rise.
ZNO Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
