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Ann: App 4C and Quarterly Report, page-42

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Banker

18,156 Posts.

171

31/01/18

22:44

Post #: 30719629
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Originally posted by Banker ↑

The announcement with NowForce was made on 27th of November. So no income in this quarterly.

All income in this quarterly is still the older, traditional business of which is slowly turning the corner with 100,000 lessons now completed via the platform.

The USD$1 million investment in NowForce gets;

5 percent of NowForce
Sole distributor rights for Au and NZ of NowForce products
NowForce distributing VPC products globally
First customer is top-tier Uni with 28,000 students/1,800 staff already purchasing NowForce

Now half of the payment appears to have been made in prior quarter, half of the payment to go.

SOOOOOO essentially, the return on the investment hasn't kicked off yet.
Aaaaand, $1.1m shortfall shares placed in Jan so cash position is closer to $4m

Some light reading for those that are keen.

http://www.jems.com/articles/print/volume-43/issue-1/features/israeli-ems-innovations.html

https://www.nowforce.com/about/partners/

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So at this SP MC is $8.4m with cash at $4m.

The next quarterly and the customer acquisition announcements likely.

Last line of the quarterly reads - to fund growth opportunities. This could be anything....

VPC Price at posting: 0.8¢ Sentiment: None Disclosure: Held
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