Ann: Growth in Quarter as Streaming Competition Increases, page-40

After a long history of quarterly disappointments and losses another shocker from the Perth minow. Makes you wonder how long Langsford can drag out the inevitable liquidation, guess as long as possible while still drawing his exorbitant salary for a company which has never made a single dollar in profit in over 10 years.

I guess good work if you can get it, wonder what his KPI performance is based on.

Loving the usual Langsford spin -  ""The launch of subscription services by new competitors in Australia and New Zealand created significant interest in the sector during the quarter."

Of course choosing to neglect a key fact, that interest resulted in a real number customer churn of 8.1% almost 35% increase from previous quarter. Paying customers as always just a smoke and mirrors number.

Not sure about Aus, but here in NZ, Netflix advertising is everywhere, noted on a bus today entire side was painted with a campaign from Vodafone to offer 6 months Netflix subscription free with every broadband plan. Now what ever happened to Langsford much taunted and always in discussion ISP deal?

Real numbers are abysmal as always, only 1m in the bank after another 1m loss for the quarter while having exhausted all means to raise more funds not forgetting over 3b unwanted shares outstanding waiting to be issued from the last failed CR.

This turkey was cooked long ago, shame so many have lost their hard earned on it but the warning signs have been there for years.




Kat.