Agency Agreements13 Jul 2018 08:24
This company looks really impressive from the outset, high quality material, content and calibre of staff. The Admission document makes interesting reading.
Reliance of agency agreements, risk factors, page 42
‘...Immotion VR currently has agency agreements in place with Beijing Leke VR Technology Co. Ltd...
...The agency agreement in relation to the UK will expire on 29 August 2018...
...Furthermore, there is no guarantee that the Directors will be able to procure the provision of the virtual reality hardware from alternative distributors on substantially similar terms to that entered into with Beijing Leke and failure to do so could have a material adverse effect on the Group’s profits and financial condition.’
Yes, every company has risk factors, but so close to the admission of listing on the stock market, why didn’t they wait til this was sorted, unless of course it will be very soon?