- Pallet provided RM2 International posted a $17.3m net loss in the first half, as it struggled to find customers.

The loss, however, narrowed from $19.2m loss a year earlier.

Revenue fell 30% to $2.6m.

'Following the refinancing and simplification of the capital structure in the first half of 2018, the company is focused on the deployment of RM2 ELIoT Smart pallets,' chief executive Kevin Mazula said.

'We have delivered against our principal objectives, successfully completing initial trials of RM2 ELIoT pallets with significant industry leaders and entering into a Phase 1 contract with a Fortune 500 customer.'

'We are pleased to see that the robust, eco-friendly RM2 ELIoT pallet, with its proprietary tracking technology, is making inroads with global industry leaders, significantly enhancing the efficiency of their supply chains'.

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