Today we officially closed our Round 1 financing and have successfully raised A$1.5m.  At the end of the day our offer was over-subscribed and we had to scale back a couple of our more supportive investors to issue only smaller lots.

This is a fantastic achievement in a relatively tight market for high-tech funding here in Perth and a testament to the careful thought that has gone into our planning and presentation of this business proposition.

So of the key factors which contributed to our success were:

1. Highly scalable business approach (Business improves with scale rather than becoming more complicated)
2. Balanced management team (Clay and myself have very complimentary skill sets)
3. Social responsible investment (helping parents become better)
4. Global market offering
5. Flexibility to negotiate final funding terms (sorry but they are confidential)

I am in the process of completing the share-script forms so that all shareholders get their “paper” to support the $$ they have invested.  Now it is up to Clay and I to turn the $$ into a very healthy return for our supporters.

Huge thanks to Clay and the Board for the awesome support in getting so comfortably into a funded position.