Ann: Chairman's Address to Shareholders, page-5

PACashmere

Thanks for pointing out Richard Li's idiosyncratic use of the advertising concept of 'reach'. I am not familiar with the lingo of advertising. I thought Richard Li was saying that uctv.fm could potentially reach more than 100 million households. I have to confess that I wondered why he was showing such uncharacteristic humility. After all, everybody connected to the internet can reach uctv.fm - and there are 2,802,478,934 internet users worldwide, according to http://www.internetworldstats.com/stats.htm

So I suppose the issue is this. Richard Li should (at the very least) have told the AGM how many hits a day (is that the correct phrase?) are received by GCN's site http://www.uctv.fm

I would have thought there are virtually no hits. Certainly if anybody I know were to stumble on uctv.fm then I think they would move on. Nothing to see there. But then I am a miserable old fart, and don't understand the taste of youth.

BTW, is there any agency that publishes the number of hits per day on a website regardless of the wishes of the owner?

I can't agree with Richard Li's claim that the uctv.fm IPTV platform has been "developed over a number of years". In fact I think that it has been allowed to deteriorate for a long time now, to the extent that there is seemingly nobody prepared to pay for advertising.

Worse than that, uctv.fm erroneously advertises the now defunct 'Newsbreak' scheme with Channel 10.

It also erroneously tells us, in a big opening window, that JJ5TV is "coming soon", when we know that it has already come some months ago.

Another error - if you click on that opening window you will see a video of Jermaine Jackson telling us that the competition is being held in Australia. That is not true. We have known for months that the competition is now being held in China!

As for the competition - unfortunately, and after many months, the tiny  collection of wannabees in the competition

http://www.jj5tv.com/profiles?locale=en&page=1

don't look to me as if they could make as much money at Sharpshooter's girl selling lemonade.

So the upshot is this. There is an old adage: Don’t Listen to What People Say, Look at What They Do. If I apply that adage to GCN then I find them wanting. Does this matter? Yes. It goes to the heart of Richard Li's claim that he hopes to persuade the liquidator to put GoConnect Australia Pty Ltd into administration, from which the company presumably hopes to trade itself out of debt. Not a likely scenario, I would have thought. The longer it has traded the more money is lost year after year. Now there is zero revenue.

Let's be generous, and suspend doubt again for four weeks. By that time we shall see what Richard Li has been able to achieve with this grandiose proposition presented to the AGM:

Having established this substantial IPTV distribution infrastructure, we are carefully considering our options of how best to monetise uctv.fm with the appropriate risk/reward ratio including licensing the infrastructure to third parties. We will make a firm decision on the monetisation strategy in the next 4 weeks.


By the way, was anybody on this forum at the AGM? I would be interested to hear what questions were asked, and how they were answered.