Ann: LR 3.10.5A Additional Information, page-14

With apologises and thanks to CreatureMagic

Hopefully the usual pest that replies to every post of mine and keeps saying they're taking a break (and returns flooding the thread within 24 hours), can resist replying.
Maaaate you obviously miss me that much that you have begged me to comment on your tripe.
Well he’s my comment and my opinion. Ill go back to my lunch now that I have given you your much needed and missed daily dose of swaggie albeit CMs brilliant work
I echo everything CM has said
IMO Facts each and every one of them.
Not your and your “cults” tripe and hollaw promises and crystal ball gazing
Below CM has done some real analysis and at the risk of a copyright breach IMO he has hit the nail right on the head.
We all dream the company will do well but as at today all of your promises have gone nowhere and given us nothing, we are all just piissing into the wind.
Just in case you, disco and co have have found it hard to read CM’s terrific analysis I have posted it again below but in a bigger font.

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!
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.