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17.5¢ titomic limited

Ann: Appendix 4C Quarterly Cashflow Report (Oct - Dec 2019), page-41

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Bakmaam90

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02/02/20

14:10

Post #: 42701038
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Originally posted by RUWM ↑

Number of sales finalised in the December quarter were zero, nought, nil, nilch, none, nothing, cipher, goose egg, nada, squat. zippo..... Keep adding your own words.

As I stated prior to the 4c announcement, interest doesn't count as revenue

Bank Deposits averaged $4.7m over the quarter
Assume an Interest rate of 1.4%
Interest per year = $4.7m X 1.4% = $65,800

Interest Revenue in the December quarter = $65,800 / 4 = $16,450.

Just re-reviewed the 2019 financial statements. I wonder if the Key Management will exercise their option on 30 May 2020 if the SP is below $0.30? This will be a test of character. What if the SP is trading at $0.15 will they exercise?

They've possibly delayed the December revenue to achieve the KMP (key management personnel) performance security requirements. They need two consecutive quarter of revenue of $1m. Pushing December's sales into the March quarter should enable this requirements to be meet by the cut-off date of 21 Sep 2020. This will need to be done in March and June as the September quarter falls outside of the time period.

They are unlikely to meet the Milestone 2 as that also requires 30 licenses to be issued.

They are highly unlikely to meet the Performance hurdle of $4.17 which is $2.75 * 1.5.

Until the KMP can demonstrate effective business skills they should reduce their cash remuneration by at least 50%. This would slow the cash burn by over $400k per year and realign the expenses to 2017. Unfortunately, the remuneration increase from $568k in 2017 to $1,152K in 2019 isn't supported by the underlying results.

KMP should be required by the company's constitution to personally acquire and hold at least $1m in current market value of TTT security. The only KMP currently failing this test is Richard Willson

Bring on the next AGM as there are enough retail investors to reject any increases to the remuneration plan. I'm obviously voting no to any increase, but yes to a reduction of 50% until you demonstrate some business acumen.

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Are you familiar with MO (Ex CEO Carnegie CCE)... I promised myself after that shambles I wouldn’t get fooled into hype and promises from the top banana again!
Having said that TTT still have a chance before the SP is slaughtered on Monday “to explain” this 2019 4th Q result after stating...
1/ on track for 3-5m
2/ sales orders received
Tell us they manufactured and dispatched product with payments outstanding and all is good, there must be something to account for the 400k cost.

JL says 2020 will be a massive year... But massive what..that is the question?
JaD...I’m close to submitting in your annoying provocative way you have been on the money all along..

Last edited by Bakmaam90: 02/02/20

TTT Price at posting: 66.0¢ Sentiment: Buy Disclosure: Held
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