STEMify Limited (ASX: SF1), formerly known as Robo 3D Limited, manufactures printing machinery and equipment. The Company offers printers, parts, kits, and software and serves customers worldwide. The company is focussed on the development and marketing of the stem education curriculum in the various parts of the USA by the usage of the interactive tools including 3D printing.
The company has via a recent ASX release stated that the Interim Chairman Tony Grist has completed the strategic review and reorganization of the STEMify education technology group. This review included MyStemKits, the hosted STEM and interactive 3D printer-based curriculum business, and Robo 3D, the manufacturer of award-winning 3D printers. Hence, now Mr. Tony will vacate the office of the interim Chairman and will continue as a strategic adviser to the company via his Albion Capital Partners group. And, the vacancy will be reportedly filled by Existing Director Tim Grice.
In his short tenure, Tony has worked with Tim Grice and the STEMify team to lead to a reduction of the annual operating cost in the US operating subsidiaries from US$5.2 million as at 30 June 2018 to US$1.9 million as at December 2018. As per the September quarter update, he was also involved with the implementation of a new ERP and digital fulfillment system as part of the company’s digital transformation program. He was also instrumental in further sales training and commission structure, as well as an incentive-based remuneration strategy for a transformed leadership team. He also took an active part in Implementing the national reseller strategy for MSK and STEMify other products. He took the required initiative in the soft launch of the newly acquired MyStemKits business, as well as re-architect the user interface and back-end for enhanced user experience. This task was undertaken to complete a manufacturing supply deal for STEMify’s new education series printer set for launch in February 2019.
For the Q1 2019, the company reported a loss of US$750 k, while Q2 (December) forecast is for an EBITDA loss of approximately US$280K, compared Q2 2018 EBITDA loss of $US800K. With the streamlined operational expenses profile and complete focus on education, STEMify is well positioned to enter 2019 and specifically the Spring “back-to-school” season beginning Jan/Feb 2019 with a uniquely integrated STEM education solution. This will be further enhanced by the launch of the new MyStemKits platform, new lesson from its content development partnership with Florida State University, and the release of a new Robo E3 “education series” 3D printer.
Meanwhile, the share price of the company has fallen 72.41 percent in the past six months as on 20 December 2018. SF1’s shares traded at $0.008 with a market capitalization of circa $4.47 Million as on 21 December 2018 (AEST 03:04 PM).