>Great that you have a wife earn a lot. I wish if I have one. >i presume your wife is earning more than (36000vins @ $11/pa = $396,000) or latest value as per Brett $462,000.
According to the end half year statement of 31st December 2018 receipts from customers was $12,855 (page 7). That represents an annual income of just under $26,000, which is indeed considerably less than my wife.
At 36,000 VINs, receipts from customers should be, as you say, about $400,000pa. Brett's figure is $462,000 which is $38,500 per month. But in the quarterly update dated 31st January 2019 they say "Netlinkz will also receive monthly revenue of at least AUD$15,000 from the Licence Sales of VINs...". $15K is a bit short of $38K.
So why are the accounts and projections not matching the apparent income from VIN sales? We can but speculate, but I have a feeling I know. Receipts are generated based on each VIN, licenced per month. If a customer creates a VIN, then stops using it, there is no income from it. The subscription licencing model assumes that VINs sold will be VINs used. In fact, quoting the number of VINs sold is broadly irrelevant. It is the number of VINs in use each month which matters, because it is those VINs, and only those VINs, which generate the royalty payments. NET is strangely quiet on that rather important number.
NET earn their royalty payment of 90c per VIN, per month. $15,000 per month suggests maybe 17,000 VINs are actually in use, which represents a 60% drop off rate from sales to actual usage. That is based on their informal "expectations" and so probably represents best case scenario.It should be possible to better work out what is going on when the sales and receipts figures are presented in the next quarterly.
NET Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
(20min delay)