Ann: Notice of General Meeting/Proxy Form, page-480

A small section of my ongoing write-up. Might help present the other side of "massive deals imminent." We've been here countless times before.

27th October 2016
Norwood announces an app update and the official launch of Corona Cloud from beta.
Stating:“World Phone 2.0 includes a number of new features that makes it services virtually seamless compared to cellular calling, which is in turn having a material impact on existing and clients in Norwood’s sales pipeline”

What sticks out to me is the words “material impact,” which would imply that these new features should have real, shareholder-benefiting impacts on the sales pipeline and drive deals and revenue.

In this same announcement, Norwood states:“The Norwood enterprise sales team has been discussing the new Corona Cloud and World Phone 2.0 for iOS capability, under NDA, with a number of large enterprises in key verticals, including the finance, professional services, health and aged care and resources sectors.”

Again, they mention finance, health and aged care etc and say these conversations are under NDA. This implies to investors these are serious talks.

Following from this, in the very same announcement, Norwood says:“Given the average mobile fleet size of these sales pipeline opportunity is currently 4,000+ mobiles per enterprise, each opportunity represents a $1M+ annual contract value … We are commencing field trials with 10+ organisations in the next 30 days and expect further announcements as contract negotiations progress.”

Finishing the update with: “I look forward to providing additional progress updates to our shareholders on our other two key targeted sectors, Telco and White Label, in the very near term.”

In 2016, on the 27th of October, the price opened at 2.06 cents. It hit a high of 2.65cents (28.6% rise) and closed at 2.36cents, a 14.5% rise for the day. It can easily be seen that this announcement, released at 11:05am, had a material effect on the share price.
A significant effect.

They used the words “material impact” in their announcement, and mentioned not only finance, health and aged care, but also said Telco’s and White Label would have progress updates in the very near term and mentioned 10+ pilots with organisations that would, if contracts were signed, produce $1M+ contracts each.

This is one of many, many times that I will highlight where Norwood has used * statements to either raise capital or pump the share price. Each time, Norwood fails to deliver on their statements. Then they make another series of * statements, the share price jumps, and they fail to deliver. Through showing this pattern, I hope to illustrate ***


* are so the mods don't moderate the post for defamation. And I had to stop there as the next bit would ruffle feathers too.

However, as we are all aware, none of those 2016 $1m contracts EVER landed.