Curious
@Holla, you said not long ago that the Australian Financial Institution that was going to be a customer "within weeks" was one of the Big 4 Banks (Westpac specifically). If there's an update this week and this is not the case, if say, the deal that was 'within weeks' is simply a small financial firm with 20 employees and a deal that generates 20k a year, what will that mean for the company?
Will that mean:
a) NOR is better focusing on the small clients and may never land a $1+ million deal
or
b) Clearly this is just a small step to signing up the Big 4 Banks, and this 20-person company will be an exceptional proof-of-concept for the $2+ million Big 4 Bank deal?
Because I can almost guarantee there will be certain posters who stick to a script that resembles option B.
Funny you mentioned AB1, seeing as they've made a minimum of $1.2 million this quarter and yet are valued at only double that of NOR, who have signed ONE (1) deal this quarter for $35,000 annual revenue, or a quarterly revenue of $8,750. So I'm pretty happy with my choice to move my investment, yes, very happy to move from a company that makes less than a fast-food worker to a company generating millions in revenue.
Just in case there's any doubt that NOR's financials this quarter will look abysmal, I just wanted to help out. World Phone is ranked #102,090 on Global iPhone rankings and #109,282 on the Play Store. The only countries in which it is having any success are countries like Micronesia (population 104,937) and Palau (population 21,503). World Secure is doing so abysmal it has no Global Ranking, and has not been within the Top #10,000 in any country except Australia over the last 90 days. and in Australia it ranked #678 in
Utilities on the 10th of Jan and dropped to #1490 on the 11th of January and then dropped out of graph able rankings (out of the top #10,000).
It hasn't been ranked within the Top #10,000 Utilities apps in any first world country since the 11th of January (the day after it released, most likely Shareholders being the only downloaders). It never, ever, ever made it into the top #100,000 Overall rankings in any first world country.
I am making a point about first world countries, because this is where large revenue and big corporate deals would come from. It's nice that residents in Namibia have it ranked #115 in Utilities today, but they have a population of 2 million and a GDP 1/100th of Australia's.
These apps aren't making enough money to cover the cost of keeping employees paid. NOR made $65,000 last quarter from customers. They spent $795,000 on staff and admin and a further $543,000 on RnD and operating costs.
This quarter ending March 31st, they estimate costs of $1,229,000 and revenue of $107,000, giving a net loss of $1,122,000. Assuming the $60,000 from last quarter is replicated this quarter, plus $8,750 from the US Bank, they're
forecast of $107,000 relies on them making a further $68,643. None of the app rankings or data signifies this will be the case. Even if they manage to make $107,000 they will still be another $1,122,000 in the hole. Obviously the $2 million CR will cover this cost, but that doesn't mean you as shareholders should be happy about a $1+ million negative cash flow every quarter.
I hope anyone still invested does not need to see their money ever, ever, again.
The company made $60,000 last quarter, which is less than the average wage of one Australian. This quarter they'll still make less than the average household. And it's taken them over three years and over $30 million dollars. $30,000,000!
