NOR 0.00% 4.9¢ norwood systems limited

I’m just going to leave this here (some of the highlights from...

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    I’m just going to leave this here (some of the highlights from the latest announcements)
    Highlights
    •Continued to enhance World Voicemail with further functionality and differentiation, culminating in the successful launch of Version 3.5 of World Voicemail
    •Ongoing relationship with Spark NZ continues to go from strength to strength, with material purchase orders and positive contract variations during FY20
    •Customer receipts were $1,051,614 a rise of 89% compared to FY19
    •Operating cash outflows were down 53% compared to FY19
    • Increasing customer receipts in conjunction with ongoing optimisation of internal operating costs supporting the
    targeted goal of achieving a cashflow break even quarter during early FY21
    a Successfully launched Version 3.5 of World Voicemail, which incorporates new spam filtering capabilities.
    • Secured NZD$350,000 in future revenues from Spark New Zealand for additional Voicemail services.
    Working towards an anticipated net nil cashburn operating quarter, based on expected receipts from pre-existing customer contracts scheduled for payment in the current (September 2020) quarter and maintenance of current expenditure levels.
    • Continued to optimise internal operating costs, supporting the above goal of cashflow break even.

    • Receipts from customers of $277,000 for the June 2020 quarter, compared to $84,000 in the prior March 2020 period, an increase of 230% period-to-period, and up from $120,000 in corresponding 2019 June quarter, an increase of 131%.
    • Total cash receipts from customers for the 2020 fiscal year of $772,000, versus $445,000 in the prior fiscal year, an increase of 73% period-to-period.
    • Net operating cash outflows for the June 2020 quarter were down 69% from the corresponding 2019 June quarter, and down 49% from the prior March 2020 quarter. Total 2020 fiscal year net operating cash outflows down 52% from prior 2019 fiscal year.
    • Raised $250,000 via a share placement to assist with the Company’s telco contract deployments and broader ongoing working capital requirements amid COVID-19.
    • Continued to target key partnerships, which remain afoot, as well as directly targeting new telco accounts, and has seen pleasing development of its customer pipeline over the quarter.
    • COVID-19 financial impact has stabilised, with limited productivity disruption as a result of a smooth transition to working from home operations.

    And did I mention We’re getting excellent ranking now for both Apple and Android
    Currently for all categories #11 on both! #1 on communications.

    Back up the trucks imo
    Last edited by matty87: 26/09/20
 
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