Netlinkz Limited ACN 141 509 426 of 65 Stanley Street Darlinghurst NSW 2010 (ASX Company) is no longer, quietly shifted everything away all vested interests and the Starlink assets have been sold off money parked elsewhere. Starlink has officially removed Netlinkz as a licensed reseller and it must move all customers away or back to Starlink by 1st October.
Everything being shifted (SSI and other minority business interests) including any last remaining employee agreements to the New business entity registered as Netlinkz Global Services (Aust & New Zealand) Pty Ltd ACN 117 373 770 of 65 Stanley St Darlinghurst, NSW 2010.
This entity will continue to burn the remaining cash <$8M left on executive salaries, its new EJV (49% equity) with PT&T Philippines a struggling Broadband IT Services business trying to get a reseller lic to sell Starlink across Philippines.
The other part of the remaining funds are being spent on contractors from Facto (Suite2, Level 11 ,1 Castlereagh Street Sydney NSW) to continue to keep the VSN software dream alive!!. There are no substantive customers to bill or buyers of VSN services, no VSN sales pipeline to sufficiently return any revenues long and short term, VSN contracts or deals do not exist and there is insufficient revenue's now to return any of your shareholder funds.
I find it ironic that there are so many suppliers and creditors owed money and yet no one is knocking on the door at the office in Sydney, or at least waiting for Tsiolis to lock up for the day and leave at 5pm on his short walk home...
The millions are all gone on Jobs for mates with no qualifications or skills in the industry, junkets and own excessive monthly fees.
NET Price at posting:
0.3¢ Sentiment: Sell Disclosure: Not Held
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