Ann: Business Update - Brazil, page-74

It is not a good announcement. I can just feel some negativity behind the rebranding. Just quickly went through relevant announcements from last February. I have something to ask and hope someone can shed light.

1. Total value of Sol contract was never mentioned. There was one mentioning first revenue $130,000 about implementation would be invoiced by 30 June 2017. Have we ever received that? In the following quarterly cashflow report (Jul-Sep) there was $0 income. Now Solgo is commercially launched and we should have received full amount of built cost. I think Nick would have announced it if any dollar from Solgo was ever received. So I cannot help thinking if it is free?

2. It is still understandable if it is free because we really wanted to get a real foot print in industry. It is our first contract after all. The problem is, if it is free, Sol would not take serious effort as opposed to expensive deal and it would be easy for them to change mind. They probably would not want to spend more effort on marketing as Sol is really small and probably not confident enough to make money out of it. Checking Sol Telecom website, there is no single word about this cloud TV platform launch. Do you think it would be like this if they are going to transform it to their future strategic revenue stream? Therefore it is highly likely the marketing cost would be on us after re-branding. We cannot afford it, can we?