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Digital marketing and customer acquisition services provider, RooLife Group Limited (ASX: RLG) has announced its Financial Results for the Half-Year to 31 December 2019, posting revenue of around $ 1.56 million for the period.
Powered by its proprietary hyper-personalization and profiling Artificial Intelligence (AI) System, RooLife offers personalised, real-time, targeted marketing to clients, assisting them to sell their products in Australia as well as directly to Chinese consumers and accept payment through WeChat and Alipay mobile payments platforms.
Good Read: Roolife Group Tapping Rising E-commerce Opportunities in Australia And China
RooLife Group’s Key Milestones in the Reporting Period
Digital Marketing Services
The half -year saw RooLife Group securing multiple new customers and revenue streams in Australia for the provision of its digital marketing and customer acquisition services. Further, the Company deployed its hyper-personalisation and profiling Artificial Intelligence (AI) engine that provides personalised real-time, targeted marketing for its clients.
- Delivery of the RooLife Online Shopping Platform
In August 2019, the Group announced its partnership with Perth Airport and subsequently commenced implementation of the Perth Airport RooLife Online Shopping platform to sell Perth Airport’s retail products online to Chinese travellers both in Australia and China. The platform delivery was completed in December 2019 to capitalise on the forthcoming Christmas and Chinese New Year travel seasons.
RooLife’s suite of services to Perth Airport include online licensing for China, system hosting, marketing design, translation, sales promotion as well as management services to boost e-Commerce sales to Chinese shoppers.
- Partnership with Lobster Shack
In September 2019, the Group executed a contract with iconic Western Australian tourist attraction, Lobster Shack for the provision of marketing and Chinese mobile payment processing to service the Chinese tourism market. In addition, a strategic placement of $ 500,000 was agreed to the Thompson Family, founders of the Lobster Shack restaurant and Indian Ocean Rock Lobster, the seafood processing facility in Cervantes, Western Australia, exporting live lobsters and a range of seafood products to China and other markets.
- Acquisition of QBID
With QBID acquisition completed in December 2019, the Company added China specific digital marketing and customer acquisition expertise, a Guangzhou, China-based team and sales outlets for International products in China. QBID has a record of successfully driving e-Commerce sales in China over the last four years across multiple well-known e-Commerce platforms and e-Retailers including traditional B2B distribution for imported products (registered).
The value consideration for the acquisition included a mix of $ 50k in cash payment and issue of 12,938,605 shares which are presently escrowed, for 12 months. Besides, around $ 150k were agreed to be utilised as working capital for the business. Further consideration is payable upon achievement of revenue milestones agreed under the contract.
- Partnership with WMall
In December 2019, RooLife was appointed as official partner and supplier for new China e-Commerce platform, WMall, for the provision of brand management, product sourcing and procurement services. As per the agreement, RooLife, in consultation with WMall, is responsible for selection of products, provision of pricing and market entry services to make these products available in China to enable WMall to further sell to its customers. Besides, the Group derives a margin on all products sold.
Having had an eventful half year, RooLife Group recorded cash receipts of around $ 1.41 million and the consolidated loss attributable to members of the Group stood at $ 1.45 million. The company also successfully completed placements to raise a total of $ 2.43 million.
Read: AI and e-commerce Company RooLife Group Raises Additional Funds Through Placement
Consequently, as at 31 December 2019, RooLife Group’s cash position remained strong with $ 2.72 million in hand, that would be directed towards general working capital purposes and expansion of the business.
Read: RooLife Reports 78% Revenue Growth For December 2019 Quarter And Expanding Business Partnerships
Stock Information: RooLife Group’s market capitalisation stands at ~ $ 8.86 million with ~ 340.62 million shares outstanding. On 26 February 2020, the RLG stock closed the trading session $ 0.026.
