Ann: LR 3.10.5A Additional Information, page-13

A couple of months ago, say November/December, the company was talking adamantly about deals with both an Australian Big4Bank, a US financial firm and a London bank. They were also talking about deals with Universities etc.

In the Q&A Paul was talking about these deals and how they have taken a long time, but made it clear that these deals were now very close. We also had different regulations across Europe and America that were being passed into law and could have meant NOR could provide companies with a solution to such regulations. We also had a suite of apps that were, at the time, yet to be released but were touted as being ''revolutionary," "game changing," and "highly sought after."

In addition to all of this, investors had hoped that partnerships with Visa and RAC would have shown a good deal of profit.

To top it all off, the Quarterly Report from the 31st October 2017 showed $59,000 in revenue but estimated cash inflows for the next quarter would be $281,000 (turned out to be $65,000 or less than 1/4 of the estimate)

So when posters claim nothing has changed, they're wrong. EVERYTHING has changed.

• We don't have a Big4Bank or a London bank.
• The US firm turned out to be a small deal that returns an annual $35,000.
• The Visa and RAC partnerships are useless
• We missed any ability to solve regulatory issues as these companies now already have solutions in place
• We have released our entire suite to the world and no one cares
• NOR still hasn't ported WorldPhone 3.0 (the version that actually has uses like AI and recording) to Android.
• They haven't released Wifi on Android.
• They missed their Q42017 revenue estimate by $216,000!
• They haven't signed any deals worth the $1.2 million it has cost to keep them in business this quarter
• They've honestly spent 3 years and $30 million dollars and can't even make $100,000 revenue in a quarter.

I think this concept of 'up' and 'down' ramping is just childish. People are allowed to point out flaws in companies they own and companies they don't own. Often holders of shares like GSW, BIG or NOR can get frustrated at those respective companies because the money they invested isn't being used wisely. I think being 100% positive on a company purely because you hold their shares isn't healthy. Every holder should be able to acknowledge if their company isn't doing well and talk about why.

If you want to discuss NOR I'm clearly more than willing. However, I'm not down ramping. I'm presenting facts. If you want to present counter arguments, that is great. But don't dismiss my posts just because they don't sound positive and don't try and counter argue with 'But Oracle' and 'deals in the pipeline' because you might as well buy a Lotto ticket. Come at me with facts. Tell me I'm wrong. Show me that NOR isn't losing $1.2 million a quarter. Show me the apps are doing well. Show me that the Visa relationship is beneficial. Show me that being Oracle-approved actually matters.

3 months ago I was happy with NOR, three months ago they were promising big things on the horizon and they had some good partnerships. Now we know none of that was true. Now we know better.

Also, the lack of response from @shanem regarding those deals from the 2016 AGM has me very intrigued. I wouldn't be surprised if the AFR isn't curious about that too.