That's what infuriated me so much. I could smell something wasn't right about that announcement when everyone else was euphoric. To be honest I too almost got caught with the hype, I thought they really finally did it. But even after reading the ann over and over again it didn't make any sense at all. It smelled fishy.
US$93.5M Letter of Intent from AT&T to purchase 3DCloudTV-XTV.AX
This is downright misleading. If I was one of the people who bought into the height of the hype I'd be sending a letter to ASIC. The headline was obvious - to pump the sp up for the upcoming cr and acquisition. To me now it seems it's the coy's last desperate attempt stay afloat by vending into something else.
So again I ask: who is this that ordered the 2,500 units??? Why wasn't this name be announced instead of the bogus and misleading announcement that AT&T is the buyer? Getting someone to install and service the units is NEVER the issue! Everyone wants to make money if there is a business, including AT&T. So why isn't this customer's name that ordered the 2,500 units disclosed? Oh yeah - confidentiality agreement! Yeah right! They could always announce it without disclosing the name that's for sure. But it hasn't been done why? Why use AT&T's name instead where they are merely a service provider? Fishy.
So it seems after the latest bungle XTV is now in a very precarious position. They are currently in 2 technical defaults by the bank:
1) $110k in annualised revenue bookings for new networks who signed up during April 2016. Not disclosed yet but we all know why. And the bank won't accept make up numbers either as they would need to be shown signed contracts with projected dollar value.
2) 6 months liquidity. I take this to mean at least 6 months of cash burn left. They have well less than that now.
The fun begins in guessing what the next announcement will be.
XTV Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
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