I actually got a response from an email I sent, pasted below is the body of the email.
For your understanding, Soco is an independent Chinese company, who invested
over one million AUD equivalent plus one year to develop TS model, then
another 1 million AUD equivalent to do the marketing and launching in
domestic China. Through crowd funding, they collected 5m AUD orders and
started to deliver from last month as well as funds raising from local
investors for their company, all of this activities is nothing relative to
Vmoto; In order to put more value into Vmoto products, we are now trying to
discuss with Soco to distribute this model through some of our distributors,
that is why UK customer were testing this model, so far there is nothing
material, and we also don't think this is sensitive information which we
should disclose, all the information you saw from various link is just
marketing material. For further information if any, please refer to our
announcement in future.
Thanks
Ivan
The next day AFD said.
I am under the impression that the relationship between Soco and Vmoto has been maturing and morphing in recent months and at the moment it appears that Vmoto has a pretty good grip on global (ex-China) distributuion. Some things have been happening recently which make me think this, including......
1. Vmoto very quietly (not included in any announcement that I can recall) acquired the trademark for Vmoto Soco......... http://tm.kurzy.cz/vmoto-limited/vmoto-soco-p15725112zo.htm. That makes 3 trademarks when added to Vmoto and E-max.
2. The english (non-chinese / ex-China) social media platforms (via Facebook and twitter) promoting Super Soco have moprhed from Supersocoworld (no longer active) to Vmotosocoworld (no longer active) and are now 'housed' under vmotoworld and throughout the first two versions, the contact person was Jeffrey Woo (Vmoto asst General Manager responsible for global branding sales).
3. Jeffrey also lists as his achievements in his Linkedin account the branding for Vmoto, E-max and Super Soco..... https://mf.linkedin.com/in/jeffrey-woo-2389685a
4. Vmoto Soco is listed in the company's 2016 distributors catalogue and cites a price on a FOB Nanjing basis (Pls don't ask me to to quote figures as I think it might be commercial in confidence) and on that figure alone (not allowing for volume discounts on offer from Soco to Vmoto), it would prove to be a nice little earner.
5. Numerous International Vmoto distributors now have stocks (or at least samples) of Vmoto Soco, Puma or rebranded versions such as the Veeems line. UK, Greece, Mexico, Urugay, Germany, etc.
If Soco (and I suspect Puma) take off I imagine / hope that there will be some triggers that would then see Vmoto manufacture the vehicles under licence and/or perhaps even produce Soco for Chinese market given their capacity. Obviously this last para is spec on my part but I would expect that to be the case.
I for one remain very optimistic but please Charles...
1.Get another independent director on board to soothe the fundies beast
2. Throw a little money into marketing / PR (as in ASX announcements and the like)
In terms of the sp, I figure it will eventually rebound but all the pieces seem to be falling into place for big turnaraound in 2017.
In any case, I am ranting now and will resubmerge into the world of non-posting.
Good luck all.
VMT Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
