Thankyou
@lemons for your post , ill try add my bits that i have from the AGM and add to my first post.
Agm and questions went for about 1hr 25 mins ,
@kevscranes @mutulong (great to meet faces) should be able to fill in gaps hopefully in things ive missed or misinterpreted.
Graham Durtanovich was chair , Sarah Smith- Company Secretary was there and also auditor Mark English ( sorry didn't get company) plus around 16 shareholders. A few being T20 .
The AGM wasn't as angry or intense as i thought it would be , actually quite placid, some good questions raised via about 8 different holders. I tried to get as many HC questions answered as possible, i won't segregate who asked what.
Only 8 of the 10 resolutions passed , but after polling all 10 passed , company received a first strike on Resolution 1- Remuneration.
Q. TV2U & ASX atm court case ?
A. Well still suspended , its before the Judge and Courts, more info is being provided, it will go back and results awaiting. ( Graham couldn't divulge alot and seemed a little antsy/awkward with this question, also stated he couldn't say alot as it is still in the process and doesn't want anything he says to be contradictory to what the Judge decides).
Q. What are potential timeline for reinstatement ?
A. Hope to be before Christmas (imo positive body language to me that this will occur) , can present to the Judge on shorter timelines , the suspension wasn't in relation to who the shares were given to , shares weren't sold on market. Company is still progressing well and will update in due course.
Q. How does company intend to fund TV2 in the near future?
A. Measures are in place , we are confident with our timing that we will get contracts done and are very positive of this. (Graham didn't go into alot of details besides contracts being finalized to bring in funds , and also sharing resources with Divan).
Q. What is the revenue from K2U ?
A. Is quite small atm . Will be reported through Australia financials.
Q. When will full launch & advertising start for K2U?
A. Stage 2 process has been completed and this was in a previous announcement . Would love to full Launch it now but $$ aren't ready available to do this, we have also been in contact with a Digital marketing company in regards to costs and planing for this. Indonesia and Spain seem to be next countries on there soft-launch roll-out. ( He couldn't and I can't remember all countries so far).
Q. Are you able to tell us who the advisors receiving the large number of shares are ?
A. ECP + Nominees have received shares ( I'm not sure if it was all shares), awarded these for process in attaining contracts and assisting company.
Q. What technology Assets do TV2U actually own ?
A. Our major asset that we own is the KL Datacentre.
Q. Progress on Indonesia, PGASCom & Smartfren ?
A. This is our main focus and priority atm , very encouraging as they are pushing us for platform and content. PGASCom has ISP that it will be putting the idea forward to .
Q. What is happening with Brazil ?
A. We are moving quickly here . Companies we are dealing with have some of there own content we are adding to that and providing other options. ( I didn't get time to write everything down on this point , maybe someone else can assist)
Q. Is TV2U providing OTT to Airlines and Hotels ?
A. No , the broadcasters have there own deals on these.
Q. What happened to the Toomai deal ?
A. Still in contact and this still positive and active . No monies received and we have not spent anything on that deal , we are awaiting there commitment before we do.
Q. What happened to Newmont and also BV Sports ?
A. Newmont is still streaming , this was a previous POC . BV Sports is not current . (Graham didn't really have much details on either of these)
Q. I know it's only been a month but is the Bodyworks agreement, awaiting funds from other sources to upgrade the NTT Japan Datacentre in KL to progress further ?
A. This will be for streaming fitness videos and products , Bodyworks are doing up there marketing plan and on how they want us to help implement that , we have good confidence that this is progressing well , we are now awaiting there database and information.
Q. Divan how is this going ? Some shareholders have noticed Hollywood content on the Divan site using a VPN Proxy .
A. Progressing well , still awaiting finalisation of Hollywood content , if content is there its not ours , but as per say the content maybe something different to what we class as being Hollywood content . ( this seemed a bit confusing to me but he did say if a shareholder wanted to contact him about this they are willing to do so ).
Q. Can we still receive more updates while in suspension?
A. Yes as per ASX requirements they still have to release information while in suspension ?
Q. Whats happening with OMTelecom ?
A. It's currently on the backburner , but is still being worked on , resources have been pulled off this to focus on Indonesia .
Q. Staff numbers ?
A. 10/11 working in the Lahore centre . Roughly 10 from Divan to TV2u , when there's work overflow they assist , ADHOC, cheaper cost to use, means saving costs on hiring new staff.
Q. (I missed this question to do with Hollywood Content).
A. TV2U is a Hollywood content approved provider , because of the Security & ( ?) that they can provide , we have the agreement with Vibiquity.
Q. Will there be more opportunities coming up ?
A. There will be , but at this stage with limited funds , focus is currently on priority clients , we have enough work to sustain us and we have now shifted from sales focus to contract execution focus .
Q. Why doesn't Nick sign off on announcements ?
A. Nick is not based in the same timezones , being 8 hours different it is difficult to get him to sign off in appropriate timeframes that are needed .
Q. Shells setup in UK and Singapore and relation to ASX and what were being used for ?
A. We're not on the ASX to fleece people , as the ASX / ASIC is very strict on procedures and doing things other than what is needed . It wouldn't be a wise move to do anything to harm the company or personal reputations .
Q. Revenue Reporting, and also revenue through Singapore ?
A. Has to be done via QTRLY , HALF , Annual as per ASX guidelines .
Q. Will the AGM be Telecast via webcam next year ?
A. Yes , this can be done , if shareholders could remind in advance before next year so this can be considered.
A suggestion was also made to maybe have a bit more of a visual presence on HC as this is a social media forum and getting an idea of sentiments and possible questions could be helpful for the company .
Not all questions were asked by me , i maybe slightly off on some wording with Questions and Answers, apologies for this and to Graham and others involved , if others wish to correct me that would be appreciated . Hopefully this helps with what some people wanted to know , but may also leave more questions . ( ) symbolise what i felt was going on , so some things are IMO.
Lol took my time on this , but its more words than i've written since i was at school .
