am i paranoid?

The purpose of suspension in ASX trading was to issue an important Update:

NBS has made a “ temporary halt” to its supply to the Malaysian Govt pending assurances re payment.

The clear inference to be drawn is that there is a contract for the Nexbis product with a Malaysian Govt dept which includes delivery and payment.

If a contract exists, then the buyer may have a problem with the product and is delaying payment, and if there is a contract then presumably Nexbis is not in breach of that contract by a “temporary halt” in delivery.

We have the following very informative statements in the Update:

“...first phase of supply...”
“...implementation of timelines for the project ....”
“...we have received in-principle support for the project....”
“...and we remain confident that the project will resume...”
“...Nexbis values the relationship ....”

So Nexbis has a “project”, but does it actually have a “contract”, as we have been led to believe by past statements, and as implied by the Update, and as some HC posters have stated?

It should have been obvious to any experienced person on the NBS executive that some of the extreme sensitivity around NBS and its business could have been marginally ameliorated, rather than heightened, by using in the Update the word “contract”, if only to allay concerns that NBS is still trying to sell the product and does not yet actually have a contract. ie it’s still a “project”.

If a contract with the Malaysian govt does not exist then what was the purpose of the Update? to let us know that their project to sell the product has been delayed? happens all the time with every business that sells anything on contract.

Is the explicit and implicit communication about a “contract”, talked-about for months and now described as a “project”, simply a variation on a communication theme of the earlier misleading statements from NBS: “ Malaysia” was talked-up for months as location for the new contract, only to find months later that it was not actually Malaysia at all but was China?

If a Nexbis contract does not exist with the Malaysian govt dept then the Update was an irrelevance, in the context that all businesses have delays in their sales processes and do not halt ASX trading to so inform us; if it was not simply a smoke-screen, then it is likely that the ASX requested some statement from the company, and that's the best they could do to avoid mentioning the words China and cash.

I don't believe that a Malaysian contract for the Nexbis product exists; and, as per previous postings, I have seriously questioned the China contract; I sold-out mid September because of the smell of the content and presentation of the NBS A/R.