“Sorry, but the infamous $18 million needed clarification…”.
In its communications the Company always reported that amount as US$18.5M. That HC posters then began to refer to it simply as $18.5M (or $18 M as in your case) was the source of self-induced confusion. Typically, the self-confused then decided it was the Company’s fault.
“I don’t know of any company that does not identify the corporate reporting currency…”.
That can’t be a serious statement. Choose a listed company operating in Australia at random and see whether it feels the need to specify that the $ sign its financial statements represent the local currency.
“Just look at BHP – always puts US even for cps.”
BHP is a duel-listed international conglomerate with a high proportion of US investors that has chosen to report in US$ rather than the local currency. That choice makes it necessary to specify the currency as US, which it does.
“If you want any clarification of the confusion all you need to do is go back to the debates on the Pegasus contract…”.
The initial report of the Pegasus contract referred to potential sales of “upwards of $10 M US”. In the Newsletter that followed, which referred to several revenue streams in AUD, it was stated that the contract was “expected to generate at least A$13.3M of revenue annually”. In each case the currency was specified. Again, some HC posters found this confusing.
“Communication experts have always advised me that communication that isn't effective isn't, in fact, communication as it requires understanding on behalf of the recipient and that the person communicating has to take into account the audience.”
The Company specified the currency in each case. Any company has to assume its shareholders have some level of financial understanding and don’t require spoon-feeding. What you’re suggesting isn’t very complimentary to the HC audience.
“If this product had not had the history I would be an investor right now.”
For investing purposes it’s more important to assess the future, not the history, particularly when there is any recent evidence that historical factors have changed.
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