It is very very strange that NET has this kind of a cash burn. NET's rent is minor given that NET is now located at the same (residential address as the CEO and the same address is shared with the CEO's rudderless and motionless funds management company SCM).
It is also strange that so much money has been spent on product manufacturing. Where are the products? Where are they manufactured? You would think there would be something to show for $8.3 million. Staff costs of $4.3 million are a complete mystery. especially given that NET has outsourced its secretary to a secretarial service in Queensland and even the investor relations officer is outsourced.
Can anyone enlighten the heavily diluted shareholders on this?
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Mkt cap ! $11.63M | |||
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