Ann: Quarterly Activities Report and Appendix 4C, page-19

So Shoops, this is why I still need the gold coins. Great announcement, 10 minutes excitement and then it gradually wanders back to where it was. Same old same old.

I wrote and asked about the VINs. Based on the reply I received it seems the business is more diverse now and reporting income across all facets of the business is the way forward. I am once again disappointed because for years the model was based on the bread and butter income being generated on a monthly recurring revenue model from VIN sales. That was going to make us all rich.

Now it seems that is just a small part of it when the expectation was that the VINs would be "game-changing" and there would be hundreds of millions of them sold because after all , the continuous stream of tweets suggest that pretty much every person and every business in the world has a need for this technology.

While other posters seem to not like what H has to say I respect his commentary (even though I often don't like to hear it). NET should be selling tens of millions of VINs in this world of remote access and cyber crime, because for many years we have been told over and over again that this is their world. When COVID really became an issue I wrote a post in here suggesting that they couldn't have written a more perfect script. It seems that is not the case, and I believe that they have changed course (again) to some degree. Yes, they will be flogging a few VINs in association with other one-off projects, but I am damn sure if they had sold 2 million VINs last quarter we would be hearing about it.

Don't get me wrong - I am pleased with increasing income and don't really care where increasing income comes from as long as it keeps increasing, and the SP with it. What frustrates me is that they just never seem to settle on what their core business is. They just keep jumping from here to there and this to that, like a 3 year old. I suspect that is because H is correct and all the talk about awards and game-changing technology are not accurate and they are just managing to keep afloat by stumbling form one idea to the next. My faith in the business owning IP that is game-changing is starting to diminish. An announcement of millions of VIN sales would allay that fear.

I just remembered the announcement from well over a year ago that China Telecom would have 10,000 sales people selling China Telecom bundled packages with NET product built-in. Like so many another grandiose announcements that one has just fizzled into nothing.

Until they go broke, or succeed, we just sit in this frustrating limbo and no-one is correct in their determination that NET is or isn't a business worth investing in.

I am changing to HOLD, until something comes along to make it different.