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MGM Wireless announces business update


Highlights:
• Unaudited total Company revenue $7.6 million, up 86%1
o Wearables revenue $6.3 million for 1H FY20, up 140%
o Recurring app revenue monthly record $109,000 in December 2019
• 1H FY20 revenue exceeds total FY19 revenue
• 1H FY20 unit sales exceed total FY19 unit sales
• 25,000 SPACETALK units sold in 1H FY20, up 127% 2
o includes 19,800 units sold in Australia/New Zealand, up 80%
o 5,200 units sold in the UK (4x Australian post-launch sales after the same time)
• Cash balance circa $5 million (unaudited) at 31 December 2019

For more information, please refer to the attached PDF
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