First highlighted section: I find it thoroughly coincidental that you always seem to 'know' someone who has to sell. Last time they had to sell 'heaps of shares on market' as they needed the money for a property (and I believe you) but this time? Someone 'needed to sell' today? Perhaps shareholders and investors just weren't interested in another dealless announcement? Perhaps today investors wanted to look elsewhere? But no, you claim the price simply fell due to someone you know having to sell... today...
Second highlighted section:
"Norwood understands that an Australian financial services institution is weeks away from finalising the final financial approval on a modernised Mobile Device Management platform that would form the basis for enabling any potential scale deployments of Norwood’s VBMS solution to the institution’s employees and contractors. The Company is confident that this decision, when finalised, will allow Norwood to advance commercial discussions with Australian banks, potentially deploying 1000’s of end-user licenses for Norwood’srevolutionary VBMS platform"
The news coming within weeks is NOT, I REPEAT NOT, and again NOT a big 4 bank. It is a financial services institution which is weeks away from financial approval. This will form the basis to enable potential scale deployments for this financial institute. They're not even saying it's weeks away before they sign a revenue deal. It's cleverly worded but the sentence "form the basis for enabling any potential scale deployments to the institutions employees and contractors" says it all. Even in weeks when this deal is signed, it's only enabling potential deployment. They may finalise financial approval (meaning the companies accountants have found a way to move money around to pay for NOR products if they need to), and yet never deploy in scale.
On top of that, they clearly say this financial institution deal will allow NOR to advance discussions with Aussie banks. As in this financial institution is NOT A BIG 4 BANK. It's also what they said about JMP, and yet we've seen no deals from US banks, but JMP was touted as a foot into the market that would be a good proof of concept for US banks.
I hold because I'm not taking a loss. But you urged holders to read the announcement, and I did. It is simply more talk and no revenue. They've never stuck to schedule. World Wifi and Secure were scheduled for November. This 'within weeks' might not be until MAY. And even then, as I've pointed out above, the deal with the financial institution isn't even confirmed to be revenue-generating. 'Within weeks' it will simply form the basis for POTENTIAL deployment.
NOR is overvalued. The company shouldn't even be listed. I have a friend who works for a small engineering company in a small town, and the company makes more than NOR's $16 million market cap. I hope the AFR digs up NORs old 'contracts signed for multi-national companies' and starts looking at the Q&A etc. where NOR has mislead investors. I am sick of this. I'd rather join a class action against NOR than hold much longer. And yes Holla, I understand you will now throw me into your 'downer' description, but the only reason you are so positive is because you have too much to lose. You literally lied above in the post I quoted, saying the Big 4 bank was coming 'within weeks' according to NOR. Which is completely false and misleading.
If we get multi million $ deals before Quarterly I will still stand by the above. I'm not going to swing 180 because we finally sign deals that have been promised for YEARS. Every time someone brings up the multiple deals that were in pilot or had contracts signed two years ago, they were shut down. And I didn't mind, because I just wanted NOR to make me money. But how about we get some honesty going. What happened to those deals? Let's not hide behind hope, lets tackle those issues. Shanem avoided the one question regarding these 'forgotten' deals last week.
I'd love for the AFR to do some investigating because I want NOR to answer some questions. Shareholders have been mislead and dragged through the dirt. Imminent deals. Contracts signed. Big 4 banks. $2+ million dollar deals. Bull.
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