Bit quiet here today, on the biggest day of the year. Not one...

Bit quiet here today, on the biggest day of the year. Not one post.

oh wait, hang on, was this the mic drop moment, when everyone finally got another confirmation to the shocking poor financials, how the company is actually a NBN reseller on 4% gross profit margins but dressed up and over promoted to investors as some cutting edge tech company. Is that why the market sold this off all day today?
they say cash flow statements never lie. Looks like The business has severe problems and defects to being able to scale. Both FY20 and FY21 had material Cash Losses from Operations of $2.3 m cash loss FY20 and $3.3m Cash Loss FY21. Add on the PPE and intangibles theyve been capitalising, and this blows out to $4.6 m cash loss FY20 and $10m cash loss FY21. So as more revenue comes in,the bigger the losses - $1 cash loss for every $1dollar of revenue. Looking into the quality of the revenue, it looks like the majority revenue is actually comprised of very low quality 4% margin NBN revenue. Appears this thing bleeds cash, and is nowhere near, possibly never going to be EBITDA positive. Telco analysts price these ISPs on EBITDA or a per customer basis - how do you get to a $200m valuation when it losses $1 of cash for every $1 of revenue?
suppose these financial results ignore the upcoming expenditure on the $7m 5G spectrum, and the rest of the millions to spend on the second round of 18 RTX servers to achieve the exclusivity clause with Nvidia.
do you want to be the one left holding the mic.