Have you listened to last year’s AGM? I think this year will provide further understanding and insight.
My understanding is that NET’s strategy isn’t to sell bulk VIN’s to consumers, instead its to engage into contracts with large blue chip companies and government organisations. NET develop individual solutions for these companies and therefore do not only generate revenue from the VIN sales, but also from the R&D they complete at the front end of each project. As you mentioned above, NET were paid $1.1m for the design works they complete on the water plant project.
If the number of VIN’s sold is not a strong indicator of the company’s success, then why would they be reporting on this in their quarterly reports? I think and hope we will know more post the AGM this month.
NET Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
(20min delay)