Like Clive Palmer, misinterpreting the facts. But you should be glad, you're not holding.
Revenue has steadily increased but cost still higher than cash inflow, but that's the way when growing the market share. ZIP, AfterPay, Amazon, Apple ...... went through the same stage.
Important is what the " Account Receivable " - figure is: $4.6m That's cash which will be paid out to W2V over the next 12 months by the tax departments which withhold any tax rebates for up to 12 months. Without the delay, W2V would be reporting CF+!!!!!!!!!!!!!!!!!!!!!!!
The business model has the above stated disadvantage and the challenge is to get to CF+ without the AR as a back up. ATM they can use that security to get bridge loans from their housebank but of course at rates at about 10%.
possible future downside:
-historical claims date back to 4 years but once paid out the annual revenue from those comps will be less - hence the aim to get more comps on board and to install the Compliance Software at their existing clients to create more revenue
possible future upside:
Expansion to Asia, especially Japan and China and hopefully one day to the USA Compliance upgrade to integrate the entire tax system inside the EU and UK.
Anyone scared, sell out, easy. Nobody is forced to hold.
W2V Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
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