The time spent on these forums when the market is tanking...

The time spent on these forums when the market is tanking because of fear is always hard to take but it does remind us all of some sobering thoughts.
NET is a speculative share and in times of fear it gets hammered .

In reading the 6 monthly report its does give some anxiety.

Admin Office and Corp Costs in 1 year have gone from $749,383 to $2,593,352 for a comparative period.
Cumulative Losses now stand at over $75m and no sign of these stopping soon.
Its losses for the 6 months were over $10m so reporting that revenue may be $15m for next 12 months is not really a help and on this basis predicting break even looks like over 1 year away.

It is always concerning when the CEO who presides over this financial mess is now paid $720k a year. I view this as a CEO who is hedging his bets. If it fails he still gets paid over the odds salary and if it succeeds he has his shares to cash in.

The constant need for cash and what appear to be last minute equity deals done without being offered to all shareholders smells of preferential treatment for some at the expense of retail investors. All that has happened for the past 2 years is bad equity placements at low ball share prices have managed to make a lot of money for some well healed institutional investors at the expense of all of us retail investors.
I see there are still major low ball share price/equity deals being done which can only keep share price down until the company reports actual profits and cash in bank.

From the outside the CEO is looking after himself with his salary and his Institutional mates with equity raisings.

No wonder NET has been suspended.

If NET comes out with positive announcements whilst Corona virus is keeping everything down, it will waste its good news and get no benefit.If you have the patience I would hang in there as its not worth selling at these numbers and results end June 2020 will be interesting.I am a holder and tempted to buy some more but I have just lost confidence in what these guys say in print. None of their announcements have resulted in any significant sales. Just hot air with lots of hype. Its like eating fairy floss. You go to take a bite but there is nothing there!

It will require massive changes in sales numbers to turn this bus around. It was mostly retail investors funds who provided the $75m in funds that were turned into losses. I hope those shareholders who have hung on get a reward for their patience.

Good luck to all those holders.