Appreciate your reply, but I think you missed the point of the post? When will they get the shares from the options they have under written? They must get them before they can sell them. How long before they get the shares?
Please do not be [feel?] sorry for my pessimistic demeanour; it has served me well to date.
Have you worked out how many seats they have actually been paid for from sales over the last 21 months?
You probably wonder why I am so pessimistic,
Forget all of the gobbley gook, deferred revenue, total revenue, sales commitments, excuses for non payment and only look at receipts. The excuses are not new.
From the June-2017 quarterly – YTD [12 months] = $149,000.00
From the Mar-2018 quarterly – YTD [9 months] = $102,000.00
Total sales from 01-July-2016 to 31-Mar-2018 [21 months] = $251,000.00
$251,000.00 @ $50.00 per seat = 5,020 seats
[assuming they are getting $50 for every seat?]
That = 239 seats per month @ $50 each = $11,950.00 per month = $143,400.00 PA
And if there are no sales this Q. then the PA figures will be worse.
The company runs at avg. losses of say, at a guess of $1.3m PA [includes the ATO hand outs]
Yes there is massive potential: The problems that I see are.
Why has no one seen a copy or sampler of the programs, I have seen older ones. The games could be obsolete before they are or could be successful.
Amongst other things, the sales / payment history, the way sales and commitments are reported and the words used in announcements and updates are the where’s and why’s of why I am so pessimistic.
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