Ann: Syntonic Investor Presentation-SYT.AX, page-149

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Snowboard

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25/07/16

20:34

Post #: 18362681
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Originally posted by Last of the Mohicans ↑

Hi @Snowboard

I doubt you're going to see $5M of revenue in the June quarterly report.

2 reasons for this, given the accounts show that Syntonic in the year to 31 Dec 2015 had $568K of revenue & a gross profit of $513K on that revenue (ie cost of sales were just $55K).

Deferred revenue was $148K at the same date.

Secondly it says $715K was spent on the continuation & development of the Syntonic business in Q1 & a further $400K was going to be required prior to the completion of the offer.

See investigative accounting section of the prospectus (pages 65-68 & 79) for confirmation .
http://www.asx.com.au/asxpdf/20160513/pdf/437750pxzlwjpw.pdf

So cash-burn is low and falling, yet roll-out of the product hasn't really started yet.

Not only was the $7M placing pulled they also pulled options that would have raised a further $2M at the same time.

LOTM

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Thanks LOTM. Will take a closer look at the ACCTS.

May have missed a few threads so apologise if this has been answered, but why would they pull the CR @ 7m if there was no substantive revenue? Is it to avoid further dilution in anticipation?

The Pokemon deal was interesting first 10k subscribers only. I wonder what the deal was for the other apps.

Cheers
SB

SYT Price at posting: 3.2¢ Sentiment: Hold Disclosure: Not Held
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Ann: Syntonic Investor Presentation-SYT.AX, page-149

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