This was a very tough read. It's deeply disappointing to witness a fall from grace from a company that had so much going for it in such a hot sector. We saw the warning signs long ago. The company has yet to lock in any proven and sustainable revenue streams.
The company generated close to zero revenue during the last financial year (down 89%).
The company are confident that they will turn things around over the course of the next 12 months. They have pointed the finger at the disintegrating ICO market and claim security tokens are still in their preliminary stages.
The Coincast Media TV show is dead in the water. DCC couldn't secure a deal that would prove profitable with an Australian broadcaster or any international news outlets. It sounds as though Coincast Media and DCC will cut ties on this JV eventually.
Digital X continue to focus on the commercialisation of blockchain technologies, blockchain consulting and development and funds management.
The Company expects to be in a strong position to present its refined blockchain commercialisation strategy and the exciting developments in xbullion to the market in coming months.
The leadership team have shown through their inability to secure any solid revenue stream and healthy balance sheet that we are in dire straits. You can't keep pointing the finger at the crypto market sentiment and play the card of ... "don't worry guys, we'll do better next year". On what basis will the company perform better next financial year? What plans do you have in place to ensure that shareholders will receive a decent return on their investment. Why aren't you informing shareholders of the long-term strategic vision of the company? You can attend all the roadshows and give countless presentations at events all you like, but if you're not increasing the number of clients for advisory services, then something is wrong. Take some responsibility. Show the shareholders you give a $h!t. Perhaps the head honcho should take a paycut until we start seeing some real results. Better yet, employ a strategic adviser that knows what they're doing and can help the company execute a business model on time.
Beyond a joke.
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