Ann: Further Information on contract with Bank of America, page-30

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27/08/19

11:48

Post #: 40170684
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Originally posted by Sharetrader78: ↑

Well I really purchased without a huge amount of study or expertise in the tech sector
And though the BOA ann would have meant a major income source ..but sadly not and yes I could well be completely wrong here but I've always had the trading motto of "when in doubt SELL the fick out"

A post on another forum -from a guy that had purchased in the early days of 9SP

BOA agreement

-"A one-off implementation fee".

This fee covers their cost for setting up the platform. The value from this is zero as it is all expenses.

- "A licence fee for 3 years".

It says 25% of FY2019 revenue. This equals $2m as FY2019 revenue was approx $8m. This is peanuts as the company burns that much money every quarter.

-"Income derived from an app marketplace."

This is hypothetical revenue as it requires users to be on the platform and purchase apps at a 20% margin. Since IPO, the company has never generated any significant revenue from this.

And want really sold me is would I use it ... how many BNZ customers use it ? what's the feedback ,how many business owners on here use it ?

Just don't think it's as great of platform as we are being lead to believe IMHO

DYOR

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Thanks for this very important information man, after reading your post I will be placing an order to sell all my shares right now!!

9SP Price at posting: 2.8¢ Sentiment: None Disclosure: Held
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Ann: Further Information on contract with Bank of America, page-30

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