Wednesday, January 10, 2018 10:49:16 AM
This is a show me stock. Promises of $30million in annual revs have moved down to 8 million and we still don't have any revs. And it's been well over a year since the first optimistic forecast.
Same track record with the audit. Big promises. No results AND they had to change auditors. Which means what??? In my experience, that could mean the auditor was incompetent............OR there is an issue in the accounting that the first auditor was uncomfortable with or was going to deal with by writing down previous profits. Hence the change in auditors.
If they delay IoSoft long enough, someone else is going to develop a similar program with programmers who can actually deliver a workable product AND they're going to have a credible ability to install, train and deliver. Big organizations like Blue Cross aren't used to dealing with little companies that can't deliver. They will not put up with stumbling, bumbling sorta working systems. They are too big.
What happened to the 8 systems that were sold and would begin generating revenue last year??? Did they install them and the customer rejected them after being dissatisfied with the results??? What happened to the distributor with all the connections? They saw the product and still somehow faded away....... If you were a distributor and found a can't miss product, would you let it go???
More likely they sold it to prospects and then IoSoft couldn't deliver. So they went away.....OR they overpromised and Iosoft let them go. Either way, it results in NO REVS.
So again, we are told that revs are about to commence. Remember there were some mysterious revs in Q4 2016, which is late summer 2016. And NONE since. So even if some revs show up in Q2 2018, it's not a given that they will be sustainable UNTIL you see sequential, incremental growth in revs and profits over several qtrs.
I still have about 1/2 my shares but am getting digusted with the overpromise underdeliver. Stop promising! Deliver something!
Please post stock symbols first in all your posts. If it's a foreign stock, please list the US pk equivalent symbol.
If the Commodities Boom is Over, I am just a Gold Bug headed for the Windshield of LIFE
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