Ann: Appendix 4C - quarterly, page-17

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holymoly

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30/04/18

21:02

Post #: 32782339
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Originally posted by dcmmm ↑

New holder here. My take on this..

The good stuff from the announcement, everyone can see, so I'll just say the things that irks me amidst all the fluff.

Disclosure is getting worse. They never would disclose units sold via channels but at least they used to disclosed the amount of Ohms ordered from manufacturers. We now have one less concrete info to base our analysis and just rely on enthusiasm of words.

They mention cash outflow being better than estimated. As mentioned by previous poster, the estimations just seem like round numbers with no explanation, making the achievement of beating the estimate less meaningful.

Alternative data announcement is disappointing. They were so definite multiple times that they would generate revenues to be recognised at Q4 2018. saying there were many interested parties and that they would be "in line" with the new EU GDPR when it rolls out and that it would be their "competitive advantage" vs competitors (Nov webinar from VP product). Facebook data breach didn't become news until mid March which is towards the end of the quarter, where as the full year data would've been obtained by Jan since Parse data started in Jan 2017. So if there were sales, it would've commenced before the Facebook breach. Now it's delayed for a year. Not expecting it to be material revenues anyway but just starting to lose trust in management's forecasts.

Don't know if anyone mentioned this before since I only joined here not long but the whole shedding of unprofitable Buddy Cloud customers recently, while it seems to be reasonable and prudent thing to do, seems to shed light on management practises of loading up unprofitable customers just to meet their milestones (milestones 1 and 2 met wayyy ahead of schedule) and receive performance rights before getting rid of customers again. That earned them around $9m worth.

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Good points dcmmm. The constant shifting of strategy and inability to make any of them stick is bit of an issue. Buddy cloud, parse, the failed deals last year. On top of that, ohms look to be basically free to who ever wants one.

BUD Price at posting: 11.0¢ Sentiment: None Disclosure: Held
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Ann: Appendix 4C - quarterly, page-17

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