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Yes spare a thought for those that bought into NET at $2 a few...

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344 Posts.

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29/04/20

19:01

Post #: 44332868
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Originally posted by Martin288: ↑

Its been a while since I have made any comment on Net.
Its a very long story full of promise.
The announcements onto the board and the late announcement of how the capital raise was done in November say it all. Governance just has not been good enough. The credentials of new board members look governance heavy so I suggest this will be now complied with.
Promises have been too big and have not delivered.
Over $80m in losses now and still counting.$7.4 loss from operating activities in last 9 months to 31 March 2020.
The business was on life support 2 years ago before James Tsiolis dragged NET out of going into liquidation. I will give credit for this but the performance of James Tsiolis will be judged in 12 months time for me. Will NET give back value to shareholders? I think yes but as the forum suggests there is healthy debate.

Entrepreneurs
As is often the case an entrepreneurial CEO now chairman James Tsiolis(JT) has to be reigned in to run a business with other peoples money. He has blown over $75m in shareholders money and given many fat share option deals to those who raised the capital. So shareholders have lost so far and only the loyal ones who believe in the technology are left. I hope the capital raises are stopped by going into profit in the next 12 months.
It is still sitting on a nine month Loss of $7.5m so the $15m in sales appear to be about a breakeven profit result. I look at both sales and profit as dividends cant be paid from sales....

On a positive.
To me the seed sales on technology is a good sign. If they achieve $15m in sales for the 12 months then well done.
The company was dead in the water until JT revived it and full credit to him. Without the deal done by him and the board with Isoftstone this business was in liquidation. A Lazerus like recovery in my opinion. 12 months ago the share price bounced when Isoftstone deal was done and it appears it had made a miraculous recovery. It was hoping for great things quick but this just has not happened. If large companies are in labs for 6-12 months then deals are slow. I am allowing 12 months in lab already done and now another 12 months for sales and cash in bank.
I would love a list of the companies in the labs as whilst it does not give sales indication, it would be like a prospects list to evaluate.
Perhaps its too sensitive and could give away too much information to competitors( I suspect thats true). However, I would love to know quantum. Perhaps number of potential customers and potential value of sales opportunities p.a with a probability of success/conversion. Thats easy and normal business practise.

The quarterly results - be patient
QTR by QTR results dont mean much and this is a long game. I am giving it 12 months from here before I assess again as there is sales options to play out with large players that take time. I like that.
These are the most difficult of times but NET appear to be making progress.Development costs going down not up and sales development is the emphasis . Its a vast improvement without being astounding.

I would prefer less spin in the reports.

Give the Board creditTo me from the outside after the ASX kicked them fair in the you know whats during suspension, it appears they have taken their medicine, some soul searching has been done, and changes have been made for the better.Their report reads like they are well focused on sales and delivery of results . ASX have put them on notice and they better look after shareholders and their business better. Lets hope!
Well done on making changes that appear to be for the good of investors.(even if its under sufferance!)

Ignore those without skin in game
The comments by any non holders on HC definitely must be put on IGNORE as it appears the forum has been infected and comments are not helpful.Non holders can have opinions but in my experience without skin in the game its hard to take seriously.
Ok if you state I am not holding and give your reasons and leave HC then thats good but it seems to be a bit peculiar to keep being negative on a share you dont own but know so much about. I expect disgruntled ex employee or similar and has an axe to grind.

Keep the faith, DYOR and be patient.
Hang in there!.
Perhaps a few of these rough diamond sales options may just happen and we are away!

I am a holder but am not buying any more as I need more confidence in the new boards direction before spending any further funds. I was lucky enough to take my capital out in the last upswing so feel this is worth keeping a free hit in and see what happens.

Good luck to those long suffering share holders.

As it is the 300th day of April in isolation we are all going a little tropo!
Stay healthy!
GLTAH

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Yes spare a thought for those that bought into NET at $2 a few years back. they must really be going troppo. I think that they have read all the spin provided by you on many occasions. Just show your original investors results. Less spin more transparency and real sustainable revenue.

NET Price at posting: 3.9¢ Sentiment: Sell Disclosure: Not Held
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