Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-35

Good on you for chasing up the company, ultimately it's them that make or break your investment.

With respect of the message they gave you, what else can they say? If Optus had signed we'd know about it. There is no way they would ever tell you on the phone the BAFO was rejected. What they will do is say 'wait and see', then use curly language in reports to suggest things are moving along and lots of different options are on the table.

For a decade Norwood has been doing that and on only one occasion has a mediocre contract been finalised. Norwood have only ever been honest about lapsed proposals spruiked in reports when directly asked by the ASX.

It's very obvious the relationship has stalled, the market is aware of that hence the price falling away.