Welcome back Parlay. I thought you said you were leaving us? All...

Welcome back Parlay. I thought you said you were leaving us?

All shareholders have a right to be disappointed in the revenue disclosed, I am as well. However the company has stated a couple of times now the change from the old business model to the new business model will have a ‘net zero impact’ so in fact revenues to be attributed the last quarter will be included in this quarter as stated in quarterly today:

“The direct impact to Cirralto is a reversal of the majority of booked revenues, resulting in some of the forecast cash-flow from FY18 now expected to be realised in early FY19”.

The way I see it this current quarter will have most of last quarters revenue plus this quarters revenue. Double whammy!!

Together with the implementation of 75 new clients per month from October 18 in Australia and New Zealand.

Disappointingly we have no numbers about the average value per site implementation to Cirralto however I am hopeful the company will start to report cash receipts and contracted revenue on a regular basis as they said they would in their Market Update. For example, if there is $10,000 per site initially and their revenue model is to have recurring trailing revenues for 3 years it would seem the numbers are robust.

It is unfortunate that we are expected to read between the lines and hopefully the company will learn by this and greatly improve the way they provide shareholders with information good or bad in a timely fashion.