NOR 0.00% 3.3¢ norwood systems limited

Ann: Commencement of Worldwide Beta Testing of World Wi-Fi, page-81

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  1. 676 Posts.
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    I think you couldn't be more wrong, or naive at best. Yes 2 years is very long. Have you had a look at the End of Year Financial Statements? Over $6mill expended last year, with $0.2mill received. 1billion shares dilution and a CR about to hit. 4 Announcements in rapid succession tells me a CR is about to hit. It must be about to hit because there is very little cash left in their bank account. And what is their ability to raise cash now? The last raising they managed $2m but seriously how many times can they keep returning to the market to raise more with promises that go nowhere? With no revenue in the past 2 years there is no evidence that they can do what they say or have said they were going to do.

    You say to keep the faith and yet the original business plan failed when they were marketing 'exponential sign-ons' when the tech was commissioned. That led to zero revenue, against what management expected. So they changed tack. Now trying to make deals in a market flooding with similar tech. Promising every quarter and yet where is the revenue? Oh... "its in the future, must keep the faith, next week or next month!"

    So where is NOR today? An over-valued SP - very low revenue, very high expenses and a management team that have failed to deliver on their plans. IMO.
 
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