In what sense is today's announcement a 'progress report'? Where...

In what sense is today's announcement a 'progress report'?

Where is Priority One now? Compare this with GCN and Priority One's ASX announcement of 18th July 2012

The latter says:

"Both GoConnect Ltd ("GoConnect") and Priority One Network Group Ltd ("Priority One") have a strong China focus. GoConnect and Priority One each holds a 40% interest in Priority One GoConnect China Group Ltd ("Priority One GoConnect China") which is holder of the rights to issue the Priority One cards for the China market. Priority One GoConnect China has entered into a Memorandum of Understanding ("MOU") with International Payment Solutions (Hong Kong) Ltd ("IPSHK")."

We now have a claim for a new initiative which essentially unravels an arrangement made two years ago - about which we heard no more.

I don't know why GCN felt compelled to issue two announcements on the same day, since so far as I can see the text is identical. Only the titles differ.

Finally, when GCN today claims that:

"Extension of GoConnect's existing businesses into e-commerce in China positions the Company for an expanded revenue base"

I think we must ask WHAT businesses and WHAT revenue.base.

IMO GCN has yet again issued a distracting announcement that is gobbledegook, about which we shall hear no more in the future than we have of the announcement made two years ago.