LOL, now $3 million is "They haven't spent much"
KT is a Privately held company so their annual revenue is a guessing game.
$3 million is pocket change to a billion $$$$ a year company but KT is definitely not a billion dollar company. The entire Kinesiology Tape Market is estimated to be $350 million annually.
So, KT would not be investing $1, $2, or $3 million in a new product unless they felt it had high probability of success .
Some do not want to admit it, because they feel it reflects poorly on BIEL, but I continue to believe that BIEL has not been able to produce enough devices to meet the demand. This is due to the Covid induced Chip shortage,
What OEM Partner is going to spend hundreds of thousands or millions promoting a new product if they are not sure they will have the inventory to meet that demand?
Evidence of my theory:
Zero Raw Materials in the last financial report, one can't make ActiPatch without Raw Materials
If companies like Sony, Ford and Panasonic can't get orders filled for Chips how can a small player like BIEL
SAI has had to delay their Powered By ActiPatch Launch for over a year now
Chemist 4U, who jumped in when ActiPatch was pulled from UK shelves, was out of stock for over 6 months, they just got new stock in the last few weeks
Amazon in India has been OOS for 6 plus months
The good news is that Powered By ActiPatch products have not been shunned by OEM Partners or consumers. A world wide pandemic disrupted the supply of Chips. Chip manufacturers continue to make progress in fixing the problem as they want to fill all of the orders that they receive just as BIEL does.
