SYT 0.00% 0.1¢ syntonic limited

News: SYT Syntonic Updates On Impact Of Coronavirus Disease On Business

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    March 23 (Reuters) - Syntonic Ltd (SYT) :

    • UNFORESEEN AND SUDDEN BUSINESS IMPACT WILL DELAY SYNTONIC'S ABILITY TO ACHIEVE ITS TARGET OF CASH FLOW POSITIVE OPERATIONS BY END OF FY2020
    • UPDATES ON IMPACT OF CORONAVIRUS DISEASE ON SYNTONIC BUSINESS
    • COMPANY DOES NOT ANTICIPATE ANY SHORT-TERM MATERIAL IMPACT ON BUSINESS OPERATIONS RESULTING FROM COMPANY DIRECTIVES
    • SEES MATERIAL IMPACT ON FY20 REVENUE GENERATED FROM SALES AND RENEWALS OF FOX SPORTS GOL SERVICE
    • REVENUE REDUCTION WILL ALSO IMPACT COMPANY'S ABILITY TO ACHIEVE ITS TARGET OF CASH FLOW POSITIVE OPERATIONS BY END OF FY2020
    • SEES OVERALL DECLINE IN CONSUMER SPENDING AS COVID-19 EXPANDS INTO SYNTONIC'S PRINCIPLE MARKETS WHICH MAY REDUCE CO'S REVENUE IN UPCOMING QUARTER
 
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Currently unlisted public company.

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