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2.3¢ zoono group limited

Ann: Appendix 4E and Annual Report to shareholders, page-3

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Gusman1974

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22/08/18

18:07

Post #: 35103575
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Originally posted by Tarvold ↑

Everything looks fine with the cashflow & debtors position etc but the one startling thing in these accounts is the product revenue or rather the lack of it in H2.
The Q3 update stated that $924k of product was shipped during the quarter except when you take the FY product revenue number & deduct the HY you only get $246k (assuming the incone in advance w/back in H1 is reversed in H2 & included in both)!
The line 'breaches in distributor agreements' of $773k appears to be the bulk of the Q3 & H2 product sales numbers, with less than $100k being shipped in Q4.

Stripping out all the noise the product sales numbers are H1 $1,962k & H2 $467k Total FY $2,429K. That total product number is almost $1m lower than the total revenue & income number.

I'm not impressed with the intentional distortion represented in the last two quarterly updates that tries to hide the complete lack of product sales that have well & trully fallen off the cliff since the half year.

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Not a holder anymore but just read the CEO and Directors report and it felt underwhelming to say the least. Usually these are highlighting fantastic growth potential etc etc. with the disappointing sales in China I would be a little nervous of where this is going.

ZNO Price at posting: 11.0¢ Sentiment: Sell Disclosure: Not Held
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