I believe you have nailed it P14. Those of us who have been here since day 1 have heard it all - game changing, disruptive, unique, quick and easy and cheap to deploy, multi international award winning, one of a kind, no-one else does this, we need to employ more people because there are so many orders (have to giggle at that).......
If I could be bothered I would look at the financials for the last 4 years or so and I reckon they would say something like MONEY DISAPPEARING = $20 million, Customer receipts $75,237.65 (note the 65 cents!)
We've been told that it is actually being used in govt departments, universities, and other institutions.
We've been told they have partnership sales agreements with Telstra and Rhype (?) and Bluetech and many others - has anyone sold any - nope. Hardly a bean.
And now they manage to get more people to put funds in, without giving any indication to the market of how the deployment in China is going, what the dollar figures are per user, how the partnership with Whitehorse is going, what is happening in Europe (they've been banging away there for years apparently - at one stage I think we were told they were going to be on the IBM UK business website), and it seems no-one wants to pay to use it (it seems the universities, govt depts. etc get it for free because there are almost no customer receipts ever reported).
Which begs your question - if it is so good why isn't anyone buying it? Why are there no customer receipts? What happened to cash flow neutral by July 2017? What happened to exponential growth?
What happened to the $20 million?
What are the new holders being told, and by whom? Why aren't we being told anything - a Chairman's report after the AGM outlining the current situation and short term expectations would have been courteous (no courtesy here though).
Those who have been here a long time will remember Hoytaedwardo. H used to annoy us all with his negative attacks. He used to write long explanations of why he thought (at 40 cents) this was a wreck - and we all chased him off. It seems I am the new H - apologies for that, but these guys just cruise along, unaccountable, getting rid of everyone's money with very little explanation, other than a series of BIG announcements which all end up adding nothing at all to the value of this stock. I'm too far in to get out so here I sit, just waiting for the next disappointment.
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