November Ist29 Oct 2013 16:26
The detail of the contract will reduce the UK working capital to zero over the course of the next year, as all orders placed by Megaman UK will be paid for in cash in advance of shipment either from the UK or JSJS's Chinese partner factory.
The Company is in receipt of orders to the value of USD 238,000 for shipments direct from the Chinese factory for deliveries as soon as practicable and expects to receive orders in excess of GBP 100,000 for delivery from the UK during October, with a view to Megaman taking over distribution to all UK customers from 01 November 2013. One exception will be the existing store roll out to Maplin, which will be transferred at a later date.