General Comments, page-1138

Basically as Harry said but with the addition of:
1. This is a social experiment: how can perma-bulls continually call multi-bags whilst for some, the SP has dropped 90%? How can perma-bulls continually believe the words coming out of NOR HQ when NOR has never actually delivered on a promise?

2. Entertainment: see the above.

3. Curiosity: see Point 1. Adding to this, I am curious how NOR can continue to "sell" the message after many of the 2015 tech RTO's have fallen over - most had poor businesses and were opportunistic.

NOR is a lifestyle company selling smoke and mirrors. It has one product opportunity left, VM. But...
i. 50+k Google downloads; assume the same for Apple; VM yielding $100+k per annum. 2% conversion of downloads into paying customers. This is not a sustainable business. If downloads were 1000x then NOR would have a business. But how to generate 1000x without capital for sales and marketing (like the failed WP campaign)?

ii. White labeling is dead. NOR's one telco customer is giving the App away as a freebie to contracted customers.

iii. VM back-end. This is not a scalable business without a partner. Look at the AR20 for clues about margins for the back-end. Perma-bulls continually talk about partners. And yet, NOR itself has been silent on partners for 1.5 years. And even if there was a partner, how much profit would there be for NOR?

None of the perma-bulls provide unique research to validate NOR's business. All I see is regurgitation of the words out of NOR HQ and Top Holder lists.

So let's flip the argument. Why are you holding? What was your catalyst to buy NOR? Has anything changed?

All imo