I thought I'd go through the list & show what they did with the...

I thought I'd go through the list & show what they did with the questions they selected to read out.

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Hi All,

I'd like to submit the following questions for Friday's Q&A (17th May 2019).

I'd like to see total transparency & honesty in your answers, no spin just the plain simple truth.

To the nearest $25,000 or A$25,000 how much monetary capital did each of you (Gary & Rahul) actually invest in the business over the years in return for all your Syntonic shareholdings ?

The funds raised in December 2018 (at a massive discount to the then share price) were according to you, to accelerate growth of the business. Those funds have clearly been spent very quickly yet the March quarterly report shows no signs of growth, so when exactly will that capital expenditure of $1.1M translate into visible growth ?

This latest fund raising was carried out at the maximum discount possible (25%) & on top of that Obsidian were given another near 15% discount in the form of notes with a value of $1.15 being issued at just $1, with Obsidian also getting a 2.5% fee & on top of all that the notes then convert at a 10% discount to the 5 day VWAP. Surely you could have negotiated a better deal than that ?

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Yet again you never went down the route of doing a rights issue to existing investors, why is that ?

Answer basically was they didn't have enough time to do this or the authority to issue as many shares as they'd like shareholders to purchase. ( My thoughts strange since they knew from December they needed more money, so you could say it was a lack of planning, but the real reason is that it would have meant Gary & Rahul actually investing cash in the business, just like they'd be asking fellow shareholders to do & unlike Elon Musk they don't seem to want to put any money into the company they founded in that way)

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[ Your asking your shareholders at the upcoming General Meeting, to not only give you the authority to issue up to 15% of the company in new shares, but to increase that authority by a further 10% as well as to be able to issue an addition 120 Million shares under the company's Incentive Option plan. ]
You've done all this in way that gives shareholders little option at all, because you've tied all these new authorities to the share issuances that have just occurred. If shareholders don't vote in favour of the resolutions the company is effectively bankrupt. Why did you not as best practice separate everything out, giving shareholders first of all the chance to approve or not approve of the share issues & then completely separate resolutions as to the authority to issue new shares going forward ?

Is it because your scared shareholders will rebel against you, given that every placement since the relisting has occurred was at a massive discount to the share price at that time. At no point have you actually considered your long suffering long-term shareholders in any of your actions when it comes to funding.

They read out the first part of the question, answered why they wanted the authority to incentivise staff, but then apparent didn't understand the rest of it - thought it was asking for 2 separate GM - instead of it actually requesting that the resolutions be split up & not contingent on one an other

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Given you've now publicly stated your target of cash-flow breakeven for the company in the March quarter of 2020, can you please provide your shareholders with guidance as to your projections for achieving this ? for example your estimates of how much cash outflow there will be for each of the June 2019, Sept 2019 & December 2019 quarters, so that we can see if the company is on track or not ?

If you fail to meet this cash-flow break-even target will both of you undertake to defer all of your salaries until such time as the company is cash-flow positive & able to fund them accordingly?

If you believe your own targets then you won't have any need to issue any more shares, so will you give shareholders an undertaking that any future share issue will be done at no more than a 10% discount to the share price & that no other add on discount gimmicks will apply either ?

Smart communications was meant to generate meaningful revenue for the company in the March quarter, yet there is no mention of this in the March quarterly or the half-year report, so can you please explain what went wrong ?

Isn't it the case that you've consistently over promised & under delivered on virtually every front to your long suffering shareholders, from Dataflex to Tata, Aktay to Smart. Myth's about the share price being totally undervalue by markets, yet you still issue shares like confetti at horrendous discounts to the market and at a fraction of the valuation you objected to ?

You keep talking about contracts in the pipeline yet seem unable to close negotiations in a timely manner, the March quarterly report is near a copy & paste of the December one, little sign of progress on lots of contracts. An earlier document highlighted another 300 M plus users that should have been announced this financial year but that doesn't look like occurring.

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Can you please give us the global installed userbase figures for the last 5 quarters so we can compare them to the QAU numbers? thus we can see if the product is gaining penetration within the installed base or not ?

Read out the question & then didn't answer it, they have no understanding of the topic/issue its either over there heads or the penetration rate is so low it frightens them.

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You've made several media/news announcement in the past couple of weeks regarding Brazil & Indonesia yet have not felt the need to inform the ASX accordingly why is that ?

Read out - apparently these new signings aren't regarded as material, point noted for future reference

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Can you please explain to all your shareholders why Syntonic Brazil's revenue is now no where near what it used to be in 2017 ?

You like to show significant increases in your headline numbers, yet sadly you fail to disclose (like a transparent company would) that these are not true comparisons due to a business being acquired during that period. Why do you keep doing it ? do you think shareholders & investors are fools ?

With exactly 6 weeks to go to the end of the company's financial year, what's happened to this statement from the latest quarterly report

"Syntonic's outlook remains very bright and we are very confident about the short & medium -term performance of the business. With new recurring revenue from MobiFone, plus the expected launch of our Technologies with Vodacom, ZroNet, and others, the Company anticipates strong revenue growth in Q4 FY19".

Are you standing by it, or has your timeframe's on various fronts slipped yet again ?

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Can you please explain to Shareholders the category of "product manufacturing & operating costs" that now appears in your quarterly filings. What exactly comes under this heading in your statement of cash flows. Given that shareholders are not aware of any product that the company actually manufactures. Why is this category due to see a substantial rise (near 50% projected) in cash outflows for the current quarter.

Only one they actually truly answered - So its like cost of goods etc (will need to re-listen to to get the full answer. May tie in with something else I'll be posting over the weekend)

Also Adroit payments are all under the R&D header in the accounts (none under salaries etc).

LOTM