PERTH toy company Brainytoys is poised for a major change following a $1.5 million helping hand and the appointment of three new directors, including a former West Coast Eagles managing director.
O'Connor-based BrainyToys Ltd is looking to raise additional funds after reporting a net loss of $4 million for fiscal 2008 and a working capital deficiency of $1.1 million.
O'Connor-based Brainytoys Ltd said it is on track to reach its $20 millions sales target for this calendar year despite expecting a profitability loss of $3.4 million for fiscal 2008.
O'Connor-based Brainytoys Ltd has secured $15 million in credit and financing facilities that will allow its US arm to finance larger mass-market orders from major retailers.
O'Connor-based Brainytoys Ltd has signed its first world-wide licensing ageement to develop a range of products using the 'HUMMER' brand, an iconic US brand of large off-road vehicles.
O'Connor-based toy developer Brainytoys Ltd has acquired US-based manufacturer and distributor Reveal Entertainment Inc and Hong-Kong-based toy vendor and distributor Enertec Enterprises Ltd in a cash and scrip deal worth $4 million.
The first shipments of O'Connor-based Brainytoys Ltd's Thomas the Tank Engine, The Wiggles and Bee Movie products have left Chinese ports en route to Australia and the United States, the company has announced.
Perth headquartered Brainytoys Ltd has entered into an agreement with Modern Brands Pty Ltd to appoint Modern Brands as the exclusive marketer and distributor for a range of Brainytoys products for the Australian and New Zealand markets.
