Firstly, i'm no competitor, do not sell drones, never have, so unsure how i'm a competitor other than I do have interests in sales businesses, albeit i'd hardly call this mob of ambulance chasers salespeople of any distinction.
There is a thing called full disclosure Brass.
Not disclosing a fairly important fact to the market is a layman's form of dishonesty, wouldn't you say?
When and how did you find out that 30% of the subsidiary business that signs up all the US agreements (sales for this business) was owned (free of charge) by another distributor called Corbett?
The fact Corbett is taking 30% of the gross profit per sale is not market sensitive?
You see IOT Group (you) pay for everything, yet IOT US gets paid first, am I making it clear enough?
While trying to digest that, ask yourself, who do you think was provided with these options below
In addition, the following options were issued FREE OF CHARGE:
· 27,500,000 unlisted director options subject to shareholder approval at a meeting scheduled to be held on 31 March 2017 ·
21,000,000 unlisted senior management options ·
23,000,000 unlisted options for sales and public relation agents ·
13,200,000 unlisted staff options
Ill refer you to the 23,000,000 option for (sales and public relations) albeit all the options are out of hand considering the farcical way in which the business is run.
Lets just assume 50% of the 23 million was paid for public relations, that's about $450,000, what public relations was that again?
So leaves $450,000 paid for sales.
So who received $450,000 worth of free options for the (no sales) or what is now 7 sales or there abouts?
Does this seem like overpayments to you Brass?
At the time the SP was around 4c, so someone received $920,000 worth of options for no cost, who is that? Do you think that should be disclosed Brass?
Neverlone the endless options above that were handed out like confetti continuously, for what?
Nearly 100 million in options handed out free of charge?
IT's just pure craziness.
............................................................................................................................................................
As per the financial report under accountant notes:
-Research and Development Costs
During the period, the group incurred $3,163,078 research and development costs of which, $1,578,691 was capitalised in the 30 June 2016 half yearly financial report.
Directors have determined that the costs incurred since 1 July 2016 should be expensed in line with Australian Accounting Standards. In addition, the capitalised research and development costs capitalised at 30 June 2016 have been fully impaired.
We focused on this area due to the inherent risks associated with the accounting treatment of research and development costs. Additional risks identified included overseas transactions that occurred as part of this research and development.
$3m plus on research and development, what were they researching that would cost such a sum, how to put a drone and Kantor on Mars?
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