Cloudtag Inc (LON:CTAG) Chief Executive Officer Amit Ben-Haim caught up with DirectorsTalk for an exclusive interview to discuss the signing of a $5.2 million distribution agreement and initial commercial plans
Q1: Now Amit, when we last spoke you were just back from CES having had some very positive feedback. Can I ask what the next steps for Cloudtag on the commercial front?
A1: As we have announced this morning, we have signed a very large distribution agreement and the distribution agreement is for a minimum $5.2 million of device sales this year. Actually, further to that, I’m currently at the ISPO Munich 2016 exhibition where I’m talking to you guys from which is the world’s leading sports business platform and the only international multi-segment exhibition for the sports trade buyers. This is again in line with our focus to continue and collect orders for 2016 with the focus on UK, mainland Europe and of course the United States but that will come later on, in the next few weeks there will be another announcement.
Q2: As you mentioned earlier, you announced today that Cloudtag Inc has taken its first product order for a minimum of $5.2 million, is that in line with your initial commercial plans?
A2: Well actually it’s ahead of the commercial planning because I gave myself a few more weeks to really assess the translation of the discussions into confirmed orders but as it is the case, I think as the flashbacks of CES, the various distributors they’ve realised that we’ve got something very unique in our hands and I think they wanted to clinch the deal before somebody else would take it. That obviously gave us the opportunity to negotiate a very good deal for Cloudtag and the shareholders.
