ISX vs ASX, page-1846

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Dannys7

280 Posts.

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05/03/24

12:30

Post #: 72750003
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Originally posted by naomhan: ↑

Sure, we've discussed that a few years back.

The integrations were big one-off projects meant so that the customer data could be integrated into ISX's ecosystem. According to JK's narrative, do a huge onboarding project (which we outsourced), and then they'll become loyal customers who can use our services and we'll make the profit after that.

The end result was:
- 3 integrations were contracted. All were right at the end of the 2018 year. We never needed to do an integration product before that quarter, and never did one again afterwards.
- The three integrations resulted in ~$3m of invoices, which was just enough to clear the performance share revenue target.
- Of that, I think it was only $1.7m was ever paid, with the rest of the invoiced amounts being written off as never getting paid in a future year. Yes, they still kept the shares.
- After the projects were completed, 2 of the 3 customers basically never used the platform that they just paid (together) about $3m to integrate to. The third customer used it for a few months (I don't have the dates on me), so we got a little revenue from that, and then they stopped using it too.

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Naomham, you make great points and even for me easy to understand, Thank you.
The integrations were big one-off projects meant so that the customer data could be integrated into ISX's ecosystem. According to JK's narrative, do a huge onboarding project (which we outsourced), and then they'll become loyal customers who can use our services and we'll make the profit after that. Lets say it worked would you feel the same way. With the other points is this a policy issue, an audit issue, the point i am making, could be other answers to this, the courts will decide.

SP1 Price at posting: $1.07 Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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