Corona

* Norwood announced the two CORONA client sign ups on the 18/06/15.

* Norwood highlighted that Eni employs more than 84,000 people in 83 countries and that Eni has a significant presence in Australia.

* Eni has signed a paid pre-contract evaluation for its Perth based executives.

* Norwood also highlighted that both Eni and Griffin Coal will pay Norwood a fee of approx $0.45c per roaming call minute.

* Page 43 of the company Prospectus under the sub-heading 'Monetisation Strategy & Pricing' highlighted that the corporate bulk billing flat rate plan option of AUD $45.00 per month per user for a minimum of 100 users. That equates to $4.5k per month x 12 months = AUD $54k for 100 users within an organisation.

* The $0.45c per minute for this product will serve as a 'door opener' to building a much stronger business relationship with these organisations and also provide them with a much more efficient pricing model long term. Show them savings first, so that they can see the greater benefits before converting to the efficient bulk monthly payment option of $45 per month.

* Upping the number of users using the CORONA platform will be one of the most important metrics from here.

* I woner what chunk of each of the two clients signed on Norwood have been able to get onboard the CORONA platform. Are they still on the 'door opener' fee or have they converted them to the efficient bulk monthly payment option of $45 per month?

* Even a mere 1000 users per organisation on the bulk payment option paying AUD $45.00 per month = AUD $45k per month x 12 = AUD $540k per year in gross recurring yearly revenue from one organisation.

* Also highlighted on pages 46 & 47 of the company Prospectus, is that Norwood's initial priority is Australia. Their goal is to create brand and awareness of CORONA & EUROPA then once they have proven the model is scalable and repeatable to then take it internationally. When ready, additional regions include South East Asia, Middle East and Europe.

* I think this needs more time, but so far the positive for me is that two paying customers are onboard which equals strong technological and commercial validation of the CORONA platform.

* However, what the market may be overlooking is what revenue would have been generated since the end of June last year and will this show up in the upcoming quarterly?

References:

http://www.asx.com.au/asxpdf/20150422/pdf/42y1l77krwm3v1.pdf (Prospectus)
http://www.asx.com.au/asxpdf/20150618/pdf/42z821ckf8gykf.pdf (Company Announcement)

Tony