Looks like a Duck quacks like a Duck, page-38

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hilldweller

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19/11/19

10:38

Post #: 41501558
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Originally posted by ben79: ↑

They plainly didn't record this revenue as recurring revenue at the time. A micron of research would have clarified this for you. In the subsequent 4c, ISX reported it's revenue in aggregate as 'Operational Revenue' and noted the following:

" Additional one off revenues to new merchants enabling direct connection to our core services. These revenues are at low margin and have a direct correlation with an increase in cost of goods sold but they will enable long term, consistent revenues via our core services and creates a stickier relationship with the merchant"

For neutral third parties reading these threads, it's important to note the following:

1) isx corrected it's table response to ASXs second round of queries, admitting it had mistakenly classified integrated revenue as recurring revenue. A few are attempting to portray this as fraudulent or misleading the market. At no time did ISX make this disclosure to the market or need to in 2018.
2) The distinction between type of revenue has no bearing on the achievement of performance hurdles.

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being someone who pays accountants and not one myself, I did not understand how different types of revenue could affect the performance shares, after all revenue is still revenue, no matter where it comes from.

ISX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
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