A bit of an overreaction today from retail investors in my opinion.
While there's no doubt that Friday afternoon's quarterly report lacked detail and the estimated roam-e pre-orders for the June qtr would have frustrated many, in reality there was very little info that investors didn't know about already. Overall it was a disappointing report but not shockingly bad for any particular reason. Expenses of $2.6m for the quarter was higher than I anticipated however it looks as though the abnormally large $1.125 m in C&A included a re-listing expense overhang from the March qtr.
Also, it's worth remembering that just three weeks ago the Sophs were happy to fork out $12m at 7c per share and believe me they wouldn't have done so if they have felt that this ship was more likely to sink before they could make a dollar.
And perhaps all the folks getting their knickers in a knot about the lack of roam-e pre orders for the quarter are not taking into account that since the launch of the roam-e video and 'official' pre-order campaign kicked off i.e. at the end of June, the video has attracted @125,000 views in a little over 30 days. Additional exposure including a Today show national interview with Simon also occurred in July. Therefore I'd suspect that pre-orders from July onwards would have been considerably higher than they were for the June qtr. However I do agree that the company should be keeping us up to date and actively seek to be more transparent than they have been.
In any case, I certainly wasn't expecting thousands of online pre-orders in the June qtr and I don't think that the company was either. The launch of the video is really just the first stage of spreading the word that the world's first flying selfie will soon be available worldwide. The marketing surrounding the December qtr launch will be far more important and crucial to the success of the roam-e brand moving forward. There are many challenges that lie ahead for IOT if the company is to succeed (and I've provided a SWOT analysis below as a brief guide - my opinion only), but perhaps we should also reflect on the roam-e's evolution to date and appreciate the amount of work that is involved to bring it to life since its conception in 2015.