Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Vmoto Improves Operating Cash Flow, Attracts Interest In India And Indonesia 0 comments
    Apr 28, 2013 10:18 PM

    Vmoto (ASX: VMT) continues to move towards improves net operating cash flows as it increases its presence in the electric scooter market.

    Notably, the company continues to deliver on its existing contracts while attracting interest from a range of potential new customers across the globe, particularly India and Indonesia.

    Operating cash flow for the March 2013 quarter improved by 43.8% in comparison with the previous quarter to a loss of $647,000.

    This is due to a decrease in employee payments as receipts from customers remained on par with the previouus quarter.

    During the March quarter Vmoto delivered about 8,700 PowerEagle electric scooters to Shanghai PowerEagle International under their Strategic Cooperation Agreement - a continued increase from the last quarter.

    It remains on track to fulfil PowerEagle's forecast production of 42,000 units by 31 December 2013.

    Vmoto also stated the production and delivery of electric scooters to E-Tropolis GmbH in February 2013 with Vmoto expecting to deliver another two containers in May 2013.

    It remains on track to fulfil E-Tropolis' forecast production of 1,000 units for 2013 under the OEM agreement.

    The company has also developed a new 80L electric scooter model specifically targeting the growing Chinese market. The electric scooter market in China for 2012 was 8.5 million units and is forecast to reach 12.4 million units in 2018.

    Compliance testing is underway in Australia for Vmoto's new E-Milan, an electric version of its popular petrol Milan scooter, which is expected to be launched in Australia during 2013, subject to compliance approval in Australia.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.