Chairman Letter
Melbourne, Nov 30, 2016 AEST (ABN Newswire) - Xped Limited (
ASX:XPE) ("Xped" or "the Company") is pleased to present its Annual Report for the financial year ended 30 June 2016 ("Financial Year").
Xped is a technology and solutions provider that is focused on IoT infrastructure. By enabling the Internet of Things, Xped's Infrastructure Platform (XIP) will bring benefits to manufacturers, retailers, service providers and consumers.
Our path to success is through the following avenues:
- Continuing development of existing and new technologies
- Further R&D to expand our patent portfolio
- Progressing MOU's into formal agreements
- Expand product offerings in key vertical markets
- Collaborative marketing and sales though partners
- Agreements with retailers, developers, service providers and integrators
- Recurring revenue from licensing, royalties, API management and metering
The Company successfully raised $8m via Prospectus offer to complete the reverse takeover of Raya Group Limited. On 5th April 2016, the Company listed on the Australian Securities Exchange ("ASX") as Xped Limited.
The Company finished the Financial Year with a healthy cash and equivalents of $9.5m, minimal debt and accumulated tax losses of approximately $30m.
The Company is pleased to report on the following key highlights for the Financial Year:
- Completion of the acquisition and subsequent listing on ASX as Xped Limited (ASX:XPE)
- MOU signed with a US listed chipset manufacturer along with a second MOU with a US listed technology company to identify and develop potential opportunities utilising Auto Discovery Remote Control ("ADRC")
- Sale and Purchase Agreement executed with Vital Xense Pte Ltd to receive 30% equity interest in exchange for collaboration between the parties.
- Company exhibited and demonstrated ADRC technology at IoT Asia 2016
- Successfully ported ADRC gateway services onto Intel Moon Island Gateway
- Heads of Agreement ("HoA") with JCT Healthcare Pty Ltd and Jackson Care Technologies Pty Ltd ("JCT").
- Xped and Telink entered a Joint Collaboration and Marketing Agreement ("JCMA")
- Appointment of Telink co-founder Dr Wenjun Sheng to the Board
- Various patents granted including ADRC patent in China; XERTS patent in China, Singapore, and Korea; PING patent in Australia.
Subsequent to the Financial Year ending, the Company announced it had entered a Licensing Agreement with Telink, completed the acquisition of JCT, entered a Sale and Purchase Agreement with KS Orka to sell Xped's equity in Sokoria Geothermal Project and the appointment of Mr Martin Despain as Managing Director.
Xped continues to invest and expand resources in the engineering and software development teams to keep up with the demand of work underway. The Company also finalised and released its native version of the Xped App on both Apple and Google Stores.
Following the release of November Investor Presentation, the Company has set its strategy and roadmap for 2017. The path to revenue and 2017 goals include:
- Complete porting to at least 4 silicon vendor partners
- Design wins and kitting agreements for at least 3 ODM's
- Expand JCT solutions for Disability Care and Home Health
- Revenue generation from licensing, royalties and API Management
- Leverage M&A opportunities and expand new opportunities and partners
Xped has a great management team and the Company is well capitalised following the securing of additional funding to ensure it can deliver success in 2017.
About XPED Ltd
XPED Ltd (ASX:XPE) is an Australian Internet of Things (“IoT”) technology business. Xped has developed revolutionary and patent-protected technology that allows any consumer, regardless of their technical capability, to connect, monitor and control devices and appliances found in our everyday environment. Xped provides technology solutions for Smart Home, Smart Building, and Healthcare.
At Xped, we’re Making Technology Easy Again(TM)
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