I was shedding some old files last night which of course...

I was shedding some old files last night which of course included the Rision prospectus and attaching investor presentation “which is still on the Rision website I might add” from February 2016 and I came across this ASX announcement.

Extract from RNL ASX Announcement dated 23rd March 2017
“The licence is exclusive to VCL to the extent that RNL shall not grant another licence to use the Rostering Platform to any other UK health organisation, provided that after the first 12 months VCL has incurred charges to RNL of at least £25,000 and in every subsequent year at least £50,000.”

So, if Alan Hoffman and Megan Boston are correct in informing the market everyone is happy with the VCL and RNL relationship, particularly given today’s update. At worst there will be a £25,000 (say A$44,000) revenue line on the March Qtr. 2018 4C + any revenue generated from the now stated 8 locations. I mean seriously how long can a trial go for?

If there is no revenue, then serious questions must be asked about the boards continue disclosure obligations and the representation of the company performance to the market.

All looks like smoke an mirrors to me.

My only real concern now is that the electricity bill to shred this paper is more than the value of my RNL holding.