Ann: Trading Halt, page-20

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mm3

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24/03/18

12:52

Post #: 31997989
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Originally posted by $pongeBob ↑

I think it all started with GSW and the ASX decided to seek clarification on some of the deals announced by MYQ.

The announcement states MYQ and Fitocracy have an initial TARGET of 500,000 users paying U$1.50 per month and generating annual revenue of U$9 million subject to this target being achieved.
The announcement also states that the parties have agreed to enter into a definitive agreement within 90 days to better define their roles and obligations. It’s now been over six months. Has the agreement been signed?

The research report (commissioned by MYQ) dated 6 December states that Fitocracy has COMMITED to growing the subscribers over the first 12 months to 500,000 monthly actives. This contradicts the previous announcement which mentioned this figure was only a target.

The share price target of $1.16 is to a great extent derived from this annual revenue of U$9 million and it is also assumed that MYQ will attract 200,000 subscribers by 30 June 2018 (is this even possible? They’ve shown zero app revenue so far which means zero subscribers).

The same research report estimates revenue of $17.9 million for the financial year ended 30 June 2018. IMO this is highly unlikely given there was no app revenue during the half year to December 2017 and so far no announcements have been made regarding the app being available through Fitocracy or the Mayweather Training App.

The company needs to update shareholders on the status of all these targets.

No doubt all these deals have great potential and this could be a $2 stock provided the revenue is there, otherwise we are back to where it started... As always DYOR!

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Excellent post - surely they have all the back up etc but as I’ve said a few times the March Q financials will be all important - they need to have derived significant revenue from their deals to meet guidelines (which I don’t think they will)

MYQ Price at posting: 64.5¢ Sentiment: Hold Disclosure: Held
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Ann: Trading Halt, page-20

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Ann: Trading Halt, page-20

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