In a recent news release on April 29, Mark Meyers, the CEO of Spiral Toys said;
"The initial release of 500,000 units to North America's preeminent retailers is an enormous accomplishment for CloudPets, and is an excellent indicator of the strength of our strategic plan," said Spiral president and CEO Mark Meyers. "Spiral's three-pronged revenue strategy, beginning with the device's manufacture, and continuing through the entire lifecycle of the device, is proving to be a very successful model. In addition to the 500k unit order, we are currently in process of filling orders in response to our television advertising campaign which began earlier this month."
This three-pronged revenue strategy includes hardware and licensing fees for Spiral technology, the sale of the physical toy to the consumer, and the ongoing revenue from in-app purchases and digital content creation from that end-user.
"We believe that the CloudPets orders will raise the manufacturing revenue outlook for Q2 and Q3, as well as digital revenue in Q4," said Meyers. "We're very excited by this initial purchase order and believe it will pave the way for the continued development of additional lines of business."
From this I think we can assume that CloudPets will be on retail shelves of major retailers like Walmart, Target, TRU, Kmart and Bed Bath and Beyond within the next 2 to 3 months.
AI
