The sep agreement ANN to purchase/rto IOT group had a slide that said 2000 subscribers and 70k revenue per month. I wondered if Intervision still trading as that appeared to be the biggest rev stream. if numbers stayed same that would have been 210k of the 280k first quarter revenues
But the website has been down for ages. I then saw irate customer remarks on facebook and researched that their provider of greek channels (in the prospectus) had set up locally and have this on their website ellastv.com.au All Ellas TV Customers that were mislead from Intervision and there Ellas TV box was taken, will be replaced for FREE so current Ellas TV customers can continue with there services.
Then OTT popped up with Intervision listed as the only client, and with no website so can't be trading? So what revenues are there?
I can't see an ANN around what looks like a dispute. When i contacted Ellas TV (the content owner/provider) the response was
"As of 1st of February Intervision no longer distributes Ellas tv's services. Ellas tv undertook to operate its business in Australia without having any reseller-distributor involved. This decision was taken after experiencing a continuous deliquency from Intervision"
Can anyone advise what i am missing. Did IOT announce this? if the biggest revenue streamed stopped wouldn't it have warranted disclosure? or did i just miss it?
Confused. DYOR
IOT Price at posting:
9.7¢ Sentiment: None Disclosure: Not Held
