That the point and you still dont understand it. Let me use very clear english.
Because these reports are not audited means that they cannot be relied on.
As and example, I relied on the following statement in the April 2017 Quarterly when assessing SMA . "Total Consolidated Revenue forthe Quarter was $1.12 million reflecting scale down of carrier billing operations and progressive shift to higher margin e‐Commerce operations". At the time I thought they were making real progress. However subsequently the annual report recorded revenue for the whole second half of around 500K. I immediately changed my sentiment from Hold to Sell
Or this from the June 2017 quarterly
"Whilst still at a very early stage, monthly revenue has exceeded $100,000 for the last two months and is growing"
Yet the actual revenue recordered for the whole of the second half ending June 30 2017 was only 74K.
These are very serious errors in reporting the truth and one of the reasons why I dont trust them. I also understand the games they are playing and the excuses they would use if investigated.
As to the latest announement, when I see the report to shareholders for the meeting to approve the acquisition will be the first time when I will place some confidence in what they say.
Given the company will not be trading for at least the next week, could be a lot longer if the ASX determine this to be a RTO I will not be making any more posts for the next week.
I assume you will keep pumping out the propaganda so that you can get paid
SMA Price at posting:
0.7¢ Sentiment: Sell Disclosure: Not Held
