Does anyon know if the half yearly results get released despite...

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wewill

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24/02/18

09:55

Post #: 31309879
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Originally posted by xmanrocks ↑

Due to mischievous cash receipts and an aggressive, slightly devious, sales approach which has led the company to accrue debt way faster than actual paying clients you would think a high portion of the business model they were using has failed.
It appears they were hoping that they could replace debt accruing sponsored ghost clients with actual paying clients faster than the debt level going up to support such ambitions.
Given that they have now used $19m of a possible $20m debt facility I think it is safe to say they have failed to attract enough paying customer to carry on this highly risky sales strategy.
I feel sorry for holders as I know some smart cookies that hold BIG shares and to be honest the figures reported all looked promising and no one knew the cash receipts reported were directly fed by debt(well not to the extent that has now been reported).
Obviously there are other issues now being investigated by authorities but I now believe the business model is totally broken.
To all those that believe in this current business model you need to ask yourself how can it possibly work from here when they have have max out the credit card so quickly and have already proven they can't convert potential ghost clients ahead of the blood loss.
I actually understand their high risk strategy but in this case it appears to be an epic fail.
At the end of the day it was a high risk strategy that has not worked out so well.

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Does anyon know if the half yearly results get released despite being in suspension?

BIG Price at posting: $2.22 Sentiment: Buy Disclosure: Held
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Does anyon know if the half yearly results get released despite...

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