NET (ASX) News: NET Netlinkz Posts FY Loss After Income Tax Expense $22.8 MLN

Originally posted by knwee2: ↑

are you an existing staff? how do you know there is NO VSN licence sold? and the IOT lab is the illusion to get more funding? This is a real danger - if this is real - you will be protected by whistleblower regulations - if it's "made up" then please make a clear statement this is your "made up" story. @ryan2991 wants some substantial information - not just a "made up"story.

Don't ask me why i know there is VSN licence sold - i read the report and it told me so.

The waterplant and SSI only contribute not even $1m revenue in past financial year - so what about the rest of $4.2m revenue? - drop from the sky? If they have manipulated the contract/sell revenue - wouldn't the auditor pick this up?

when they first announce $15m revenue forecast - you said the revenue will be NIL. -- ok there is no substantial info to support, you may be right

when they announced a $5.3 m revenue GENERATED - you said that's one off --- but you couldn't suggest where was the rest of $4m from

if they capable to achieve $15.3 revenue by end of 2020 calendar year - what would you say? Revenue from the IT support provided instead of from selling VSN licences? or there is other excuse you have in hand?

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>Don't ask me why i know there is VSN licence sold - i read
>the report and it told me so.

Which report? As I pointed out in my post of 2nd August, they have removed the number of VSN sales from the quarterly. Which report are you reading which tells you the number of VSN sales?

>The waterplant and SSI only contribute not even $1m revenue in
>past financial year - so what about the rest of $4.2m revenue?

I think you need to check your figures. The water plant initial payment was $460,000, as described in the March quarterly (p3). SSI generated revenue of $535,000 in Q1, and $500,000 in Q2 (detailed in the 4Cs). That's $1.5m in total. The year end report just issued says software and licencing revenue was $1.85m for the whole year to 30th June. We know they included the water plant revenue as "licencing for the VSN product" because it says so in the investor presentation from May (p7). So there is only about $350,000 unaccounted for. That must have appeared in the 1st half of the year (July 2019 to December 2019). I can't be bothered to go and find it. The rest of the $5.3m came from "consulting, design and implementation revenue". That was about $3.4m (year end report, p17), but it does not say what it is for. It is certainly not recurring VSN licence revenue because that would have been in the other column.

So which bits of that income are likely to be repeated next year? The SSI income should be, you would hope. They paid enough for it. The water plant and consulting revenue are by no means guaranteed. There is no VIN/VSN income anywhere to be seen. So it looks like 2021 will bring them $2m from SSI, plus whatever other bits of work they can raise from iSoftStone. I have a feeling it is going to be some way short of $30m.