If there is no announcement (a Telco with significant revenue attached to the deal) until the next quarterly, then 22c will look like a bargain I reckon. The cash burn is completely out of control & they haven't even opened their US office yet.
I find it bewildering that in the quarterly they mentioned they had a deployment in January and billing would commence in the same month.
Now, who is this customer and why cant DUB announce this to the market? Simply pathetic.
They also said " In addition, another telco has already been confirmed in January". Which company is this?
The reason people are selling is because they are sick of the bulldust McGovern is delivering or lack thereof. This is not how you run a publicly listed ASX company.
This is what Steve said in the September quarter:
The cash receipts in the quarter reflect the Company’s decision to provide credits to two of its customers who have been billed at a contracted rate although the service had yet to be deployed at the time. These credits have been agreed for commercial reasons with long-term customers. This is what Steve said in the December quarter:
The Company’s decision to provide credits to two customers who have been billed at a contracted rate although the service had yet to be deployed at the time. These credits have been agreed for commercial reasons with long term customers. In both cases the customers have commenced the migration of existing recording users to meet the minimum level committed in the agreements.
So after 6 months, the company is still providing credits to 2 unknown customers whilst they are burning through cash at a speed of knots.
I think it's time the ASX gets involved here and puts a stop to this non disclosure.
DUB Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
