I don't care what anyone says this CR is bad news!!!
We have been sitting here waiting for signings and been told that a CR was not necessary for quite some time. The timeframe given for the MOU to turn into a full binding contract was 4 - 12 weeks....times up. CORONA many times has been referred to as having signed customers or very interested parties. So many OTT licensing contracts in the pipeline, talking to 6 or more potential parties, confident at least a couple will sign.....
The fact they are asking for money before anything lands is just a MASSIVE vote of NO CONFIDENCE from the company that anything meaningful will come from the current talks. This says to me OK we are not going to really get anywhere until maybe we have messaging and wifi apps completed so lets go for the money now just in case the SP continues to slide. There is NO other reason they would do this now just before a bunch of deals go down. It doesn't take genius to know that even one decent deal would get the SP moving. So if you are very confident as a company that something will get signed in the next couple of months you wait for that to drop and then go for the CR. This is not what they did.....NO CONFIDENCE!!
The other thing to take from this is that perhaps they obviuosly didn't have money to last as much as they claimed. Why else would they need it now?!
Sorry to the optimists but bad news here. WP on another note, the only thing that they have proved with this so far is that if you pay for advertising you can get downloads. Maybe throw in they have proven there is a market/interest, that's about it. It's not gaining traction....It's not making any money and there is NO ORGANIC GROWTH. The advertising stops....so do the downloads....We have had the same download figures for ages now and revenue hasn't been mentioned in months...
NOR Price at posting:
3.5¢ Sentiment: Sell Disclosure: Held
