Ann: Quarterly Activities Report for the Period Ended 30 June 18, page-9

This looked good in the beginning with regard to their announcements only for some serious questions to appear.
Is there a viable business?
Its not signing on enough paying customers that i can see ( $8k revenue for the qrt). Where are their customer numbers?
No receivables carried forward this qrt. No announcements of contracts. No projections, and no money in the bank. If they have a new financial player, why don't we see the receivables carried forward? Have they written it off?

They burn $100k per week with nothing to show for it and they need a placement. They also have a very small staff base, so where is the money going? Please feel free to explain.

The latest qrtly has limited information.
They recently raised around $2.5m and that's gone with $8k in revenues within 5 months. You can see why they burn through $5m plus pa.
The qrtly shows less than $600k of cash over one month ago. I assume that is almost gone.

A few things to ponder..
1- They previously announced they broke even for the qrt and yet they received zero money in the door.
2- We don't know how many customers they really have.
3-we don't know what each one is paying and what terms they are on.
4- They lost Telstra some time ago, since they were not paid from them in the previous qrt.
5- They just said that they can receive 'significant' upfront money for contracts. How much is that?
6- They need to raise more money just to stay viable.

I am not saying the company is dead or that its done anything wrong, but they need to answer some questions. I am a little surprised that the new guidelines haven't made the company inform shareholders more. Maybe this explains why the stock has halved in the last month. No real news.
Happy to hear some feed back. dyor