Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-226

"Companies tend to pivot their original ideas..."

This just about sums up NOR perfectly Doz.

"It is very natural for a startup to change their goal and ideas. "

NOR may resemble a start-up in terms of cash flow; but PO started Norwood 2.0 in September 2009. 12+ years later, this "startup" is still searching for a problem to solve with its solutions.

I note you have also pivoted No surprises. From Patent to Trade Marks. And you are still desperately trying to build a case for the "Intangible Asset" moat.

The only intangibles NOR has are telco sales and commercial partnerships...

Speaking of startups; the NZ uni students have pivoted and their App is in the same Google download bracket as a listed ASX company.

All IMO.