GCN has achieved its personal worst - not a cent of revenue in the last quarter. Not a cent.
The accounts again have the note: "Customer receipts have not included sales receivables of $82,500 in the June 2014 quarter but which will be received in the next quarter."
Previous quarterlies have contained just the same sort of excuse and promise. Nothing materialised afterwards. Yet there was supposed to be $82,500 earned from the last quarter and shown in this quarter. That is what is written in the March quarterly.
So where has that $82,500 disappeared to? How come (assuming this is not a copy and paste job) that the sums promised are both precisely $82,500 in two separate quarters?
The remainder of the introductory note reads to me as merely a parody of previously unfilfilled promises. Why should I believe things will now work, merely because GCN has "repositioned" itself by turning its back on its woeful past?
GCN Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
