Ann: Company Update and Quarterly Reporting-NOR.AX, page-228

Cocoman, that sort of thing is not new. I was posting when the company was last at 2c that CORONA which was being touted as the most incredible thing.. the reason for listing... was so amazing, so great, going to get so much traction. The figures then didn't add up to me, I posted (alot) yet got almost routinely shot down.

They had remember had '30 companies using the platform including iiNet'. It was pretty apparent that these users were not yet paying any material fees and even after 6 months, hadn't signed up. Then people got distracted with WorldPhone.

Then we were told. Oh, actually CORONA didn't receive the best feedback from enterprises (so the story on HC goes anyhow) - 100% reverse position from the listing and announcements prior.

There was not one skerrick of revenue from CORONA in the end of year financials, which no-one seemed to care about. Even though in June last year (happy to stand corrected, pretty sure it was then) they signed up their first paying customers and said "Look forward to announcing new signings tot he CORONA platform in the coming weeks" (emphasis mine).

Anyhow.. my point is, given they promised CORONA signings in the coming weeks. 6 months later they weren't there and the financials showed that even the paying customer paid nothing. That told the story.

WorldPhone again, nothing wrong with the product but is there a market for it and can they make a profit from it? So far they have spent more on marketing than most expected and the aren't making any profit on the revenue received. Remember, number rentals, call termination, support of the service aren't free - this is a razor thin margin space.

This isn't to say that NOR or its products don't have promise, the blind faith of some however can - it would appear - can lead to a bit of tunnel vision.

All of the above, is not some downramp, its the same thing I have been saying since June last year.

My prediction for the next 3 months include at least one Capital Raising and a pivot to something related but new (probably remittance or money transfer) - maybe a left field bit-coin payment option? Might sufficiently distract the market and re-excite some.. for a bit anyhow.