Ann: Appendix 4C - quarterly, page-6

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knwee2

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27/04/19

00:12

Post #: 38284401
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Originally posted by hoytaedwardo: ↑

knwee2>Any reason no customer receipt and lower grant/ incentives
knwee2>compare to last quarter?

Gucci>$15,000 per month in license fees are received quarterly in
Gucci>arrears so this would be due to timing differences.

Nice try, but no. Since 1st July 2018 their accounting standard has been AASB15 which specifically clarifies that point. See the half year report from December 2018, pages 11 and 12:

"Sales of licenses"

"The Group waits until the reseller sells the licensing to an end-customer torecognise revenue. ... Revenue is recognised to the extent that it is highlyprobable that a significant reversal in the amount of revenue recognised willnot occur. This is usually when the cash is receipted from the resellersupported by a sale report."

There is no delay while money trickles through the system and arrives. They account for it when they are told by the reseller that a sale has been made and the customer has paid. The reason they have accounted for zero sales this quarter is that sales this quarter have totaled less than $1,000.

You might also note that the claim of $15K VIN licence sales per month which NET "expects", as referred to by knwee2 and which appeared in the quarterly report dated 31st Jan 2019, has disappeared from this quarterly report. In fact, in the commentary text they make no mention of the zero sales figure at all. They do not even acknowledge it, let alone attempt to explain it. They do, however, specifically explain that the word "expect" is a "forward looking statement" and as such "involve risks and uncertainties and no assurance can be given that actual future results will be consistent with these forward-looking statements." Even these guys have to clarify weasel words sooner or later.

Still, the directors and their entities claimed $115,000 over the 3 months, so it is not all bad is it?

It bewilders me that shareholders can not see what is going on here. Surely it is obvious by now?

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hi h, just wondering if you are an accountant or somewhat related to accounting industry, don’t think msny ppl will care much about AASB.

I have followed the Weibo (Chinese twitter) and believed they do have a good sales.

I was just wondering why there is no sales receipt reported - this time I will take Gucci ‘s word - due to delay reporting. 4C statement is not a financial report. It is a cash flow statement only. So any delay from China telecom to JAST, or JAST to netlinkz Aus may resulted a $0 income (just my thought on the basis of believing Gucci’s statement).

i believe the company is heading to a right direction this time compare to 6years ago.

NET Price at posting: 12.5¢ Sentiment: Buy Disclosure: Held
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