There are many joining dots on twitter, here and elsewhere. There are so many ways to join the dots and I think it is all speculation. Ultimately, all we can go off is the announcements and what has been said in them.
Just following through the course of announcements... it seems to have gone like this...
12th July - Cro to ASX - we have something material to announce (it is related to Revenue. First TH said "first contracted revenues". Notice the words - contract (binding) and revenue (material).
Asx to Cro - OK send through info...
12-14th July Cro - Hmmm, well now - is this contract locked in, and is the revenue guaranteed? Not finalised yet but we will get it soon, before the two days are up...
14th Cro to ASX - we actually need to have a suspension. But it is about trade finance now. We can't talk about revenue but perhaps we can say who the customers are and this is a big deal... "Trade finance customers"
14th-21st - Cro - We better get these trade finance customers ready. This is material enough surely.
21st July - ASX to CRO - you don't have anything material right? These trade finance customers are non-binding. They are considering your trade finance, but could opt out anyday.Cro - yep true.
If you say.... it is just an interpretation thing... Cro thinks its material but ASX does not. The problem is why did the TH change from contracted revenue to trade finance?
CRO jumped the gun...
it looks like, Cro was close to having a contract and revenue included, but not complete. They jumped the gun, and tried to time it for a good market ann, hoping it would be complete.
They have a habit of doing this.
AF has talked earlier and often about his propensity to be super keen and passionate, and to "grow too fast". He sometimes can't help himself. And I don't think David inderias helps this propensity either.
Let's face it. They should not have done this, they stuffed it, and I think they knew they did it. But of course it is not the end of the world. They have given us a hint of what is to come.
It is just a pattern, that needs to sort if you want to go portfolio
DYOR and all that.
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