The prospectus for RFN higlighted success with major multinational companies and deals in pipeline. But then came out with the 4c of 119k. Is this not similar?
" The Company’s future revenue prospects are heavily reliant on the conversion of its clients trialing the App into paying clients, and the
delivery of additional product offerings to those paying clients. Accordingly,
the Company must maintain and support its existing customer
relationships (whether trialing customers or paying customers) to ensure
they continue using the App into the future (given customers are on
monthly subscription plans with no fixed term) and are receptive to the
uptake of additional product offerings. The loss of these customers would
have an adverse impact on the financial position of the Company as if
customers were to be lost, the Company would lose a revenue stream
(being existing subscription based payments) and the opportunity to sell
further product offerings."
"REFFIND has achieved early sales success with the REFFIND Employ product being subscribed for several large companies including:
• Coles Limited;
• Fuji Xerox Australia Pty Limited;
• Coca-cola Amatil Limited;
• Lion Pty Limited (formerly, Lion Nathan);
• Pacific Brands Limited; and
• AMP Limited.
In addition there are a number of companies currently trialling or in the near term sales pipeline (less than 90 days) for the REFFIND Employ product which if successful, will likely convert to paying customers. These include, but are not limited to:
• Qantas Limited;
• Australia Post;
• Allianz Australia Limited;
• Santos Limited;
• Nestle Australia Ltd;
• Genworth Mortgage Insurance Australia Limited;
• Thales Australia;
• AON Australia;
• NBN Co Limited;
• SMS Management & Technology Limited;
• Downer EDI Limited; and
• Salmat Limited.
GSW Price at posting:
$2.92 Sentiment: None Disclosure: Not Held
