CEO COMMENTS

Joonhee Won

Chief Executive Officer

Email ir@anoto.com

Joonhee  Won

16 JUNE 2017

Growth through increased collaboration among Anoto’s partners

The first global Anoto Solutions Roundtable is kicking off in Seoul on the 27th of this month. The theme of this invitation-only event is "collaboration without duplication" and we’re all looking forward to a couple of days packed with information sharing. I know this is going to be extremely valuable.

Anoto historically failed to embrace a real networking approach with its partners. Hence, partners developed solutions independently that were only sold in their own regional markets. The opportunity for global growth through partner collaboration was entirely missed. Now we’re changing that.

Through this roundtable, we are offering an opportunity for Anoto partners to meet, share their solutions, show their case studies, and display what I believe are some pretty brilliant ideas. For the overall Anoto community this will mean reduced development time and easier market expansion.

We chose Asia as the location for this first event because this region features some of Anoto’s biggest partners and it offers significant market potential to partners from elsewhere in the world. We are very pleased by how many participants are traveling from Europe and North America to attend this event.

The management of Anoto will be sharing our vision with partners and rolling out our pen and Anoto DNA roadmaps. We are dedicated to better communication and closer cooperation.

Hopefully this event will add much needed synergy and spread market ideas that pave the way for the future success of our partners and the good of our shared customers.

To me, this event symbolises the beginning of the second stage of Anoto's transformation; the growth stage. Starting with this event, I will embark on an "around the world sales tour" to meet customers and partners over the next few months.

Wish us luck!


26 MAY 2017

"Why did we postpone the publication of the 2016 annual report and AGM?"

We postponed the publication of the 2016 Annual Report and the AGM date to June 30, 2017. Some conspiracy advocates will be worried and will spread all types of unsubstantiated rumours. To preempt the speculation, I will proactively address the reason.

There are three reasons for the delay:

  1. Clean break from the past
    We are doing substantial write offs of obsolete inventory, capitalized expenses, goodwill and other historical baggage we carried. With the acquisition of two major businesses, Livescribe and Pen Generations, we needed a closer look at the balance sheet and P&L line items.
  1. We are doing this with fewer people
    Restructuring and the subsequent reduction in labor force also meant that we reduced and streamlined the finance personnel as well. We are working 150% full time with fewer people to finish the audit of 2016 and at the same time, work on the first quarter's results.
  1. Building financial discipline and setting policies
    Whilst we are working on the reporting of fiscal year 2016, we are also in the process of setting up a upgraded management reporting and control system.

Hence we are slow but we are trying to do the right thing.  We are trying to position ourselves for future growth. We will not window dress or try to justify our lack of performance last year. I hope our shareholders will understand our efforts to make a clean break from the past.