Not crazy negative Brett. Just realistic, mate. I have more chance of making my money back if and when NET can do it on the back of fundamentals and not silly announcements. I just wish NET would offer something concrete instead of more BS. Instead we get this sort of comment from Tsioliss:
Expects this product collaboration with AI Data Innovations to provide a strong pipeline to derive revenues from AI Data Innovations’ sizable customer base, however the Company will not be in a position to update its revenue guidance until these subscriptions and service contracts have been negotiated and secured. Our collaboration is focused on delivering a global product through an established sales channel. We expect to earn subscription and service fees based on customer take up rates.”Lots of "expects". i.e. no facts, just more vague talk.
Not a word on the actual size of AI Data's potential client base (10, 100, 1000, 1,000,000, 10,000,000?) They do actually have "an established sales channel", right? NET would know that?
No idea about potential revenue. Really; and this after you've signed a deal with AI Data? You kidding me?. That should be the very first thing you'd want to get a handle on! If not it's negligent. If they do know, they should update the guidance.
Expect to earn subscriptions and fees based on customer take up rates. What a surprise. That applies to every business in the world. Even my local barista depends on customer take up rates. Take up rate = number coffees sold = revenue, less costs = profits. ( a bit thin now with COVID19 but he's hanging in there, thanks for asking).
Again Brett, what's your basis for predicting NET will sell 100 million USB devices into China alone?
AI Data is a private company but there's nothing stopping it from having a half decent website, something you'd expect from a global tech firm with resources as vast as nations, not so? NET is just quoting AI Data on its amazingly huge client base and 300,000+ global workforce, so I suppose legally NET is not breaching any rules, but .... Wouldn't it have been more honest for NET to fact check the AI Data website and get their real workforce number instead of exaggerating it by 10,000 times? It took me about 2 minutes to do, so shouldn't be too much to ask of NET.
No. I still believe this announcement is nothing more that a puff piece with little if any substantive backing. Just a minor arrangement with a minor player made to sound like it's a global game changer.
Prove me wrong.
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