ASX ANNOUNCEMENT 1 May 2016
Quarterly Financial and News Update
Major move forward to advance new product - 3DCloudTV
Large order sizes anticipated including an initial pending order for 2,500 3DCloudTV Units
PCM signs on a channel reseller with 800 sales people
Major Healthcare clients entering into expansion phases
xTV Networks Ltd ("xTV" the "Company") (ASX:XTV) completed the second quarter with significant momentum in Healthcare and highly respected brands in the USA as previously announced.
Financial - Cash collections for the quarter totaled $40,796 with over $100,000 being received just following the cut-off for the end of the quarter.
3DCLOUDTV Opportunity Overview
Signed Option to acquire the technology from TPT for combined solution - 3DCloudTV
Acquisition triggered upon receipt of ~US$50M+ in bookings to qualify the opportunity
Acquisition is a combination of cash and equity over 10 milestones
Following the acquisition, the initial major order would be a significant roll-out for the Company and demonstrate the value of the 3DCloudTV product in a large scale deployment.
The Company is in discussions with funds and brokers to consider its options for significant acquisition and expansion financing.
PC Mall - Reseller Channel Sales
PC Mall (NASDAQ:PCMI) has 800 Sales People, $2B in revenues and $155M specifically in Healthcare.
April Launched Reseller program with special incentives for sales people May Expand marketing activities to PCM customers
On Site training in Montreal for 400-600 PCM Sales Reps June On Site training in Chicago for 120-150 PCM Sales Reps
Large customers are receiving quotations for organisation-wide implementations with customers excited about the value of the xTV products in their environment.
Healthcare team is continuing to expand existing large scale customers whilst adding further customers.
The revenue pipeline has grown substantially and we look forward to informing the market of the continued expansion of sales activities and wins in the healthcare market.
Joe Ward CEO
Investor & Media Relations email@example.com
xTV - the Next Generation Media Network Company allowing businesses to set up dedicated multi-channel online networks that integrate branded video and user-generated content with other real-time feeds