General Comments, page-1152

There was some talk about NOR's IP acting as an insurance policy for the current MC.

Let me debunk this myth here and now.

NOR is not PO's first dance.

I previously posted about PO and Norwood V1.0. See here:
https://hotcopper.com.au/posts/41809591/single

As you can see, from this post and PO's LinkedIn profile, https://www.linkedin.com/in/paulostergaard/, there was a Norwood back in 2000.

"I raised more than USD 20 million in three venture capital rounds for the business between 1999 and 2002. Norwood Systems was acquired by Euraust Ltd, an Australian public company, in 2004."

I always found it strange that PO would boast about the amount of funds raised but not mention the sale price so people can understand the ROI. Why is this key bit missing?

Because Norwood V1.0 and it's IP was sold for GBP200k.

https://www.asx.com.au/asxpdf/20041028/pdf/3nfw3xtd6ngm1.pdf

How did the IP act as an insurance policy first time around?

Why will Norwood 2.0 be any different? So far it is tracking the same way. AUD30+m raised but valued at AUD6.7m which is 7,6x FY2020 revenues. Based on lack of transparency of VM stats and pilots, NOR is significantly over-valued and heading the same way as Norwood V1.0.

NOR SH would be at the back of a very long queue when it comes to distributing any proceeds from an IP sale.

All imo.