Some very promising signs in this quarterly I thought.
Cash burn reducing, at last. They are realising that flogging dead horses doesn't work:
"..successfully reduced ongoing core non-discretionary spend, net of extraordinary items, this past quarter to less than $400,000 per month without compromising R&D or ongoing sales and marketing. This has been achieved by re-directing our sales and marketing spend to longer-term viable SaaS-based segments in the Enterprise, Telco and Travel & Loyalty sectors, and away from the telco-oriented Consumer segment..."
Staff costs down massively, almost in half since the last period. Then again, so are receipts by approx the same amount but who cares about the little details...
pipeline of new customers. have heard that before, like.. before they listed, after the listed, before CORONA v2, and now again. Maybe one of the customers will crawl out of the pipe and sign on the dotted line.
and a last positive. If they do get a deal done, they now (apparently) wont loose money providing the service to a future customer. Always a good thing.
NOR Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
