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Interview with Jonathan Soon on Wall Street
Reporter:
Took some unedited notes of highlights as I was
listening. Apologies if anything is not clear or misspelled. Please feel free to
jump in and correct.
1) Company is now profitable - 2004 will see
increased profits - $10M revenue + $1M earnings - March Qtr 2004 sales up 440%
over same period last year
2) Big increase in interest in home automation
products - huge national retail distribution channel x 240 retail stores (incl
Harvey Norman) - not just relying on direct sales - exclusive rights to Home
Automation brand
3) Second largest WiFi network in Singapore - generate
revenue within 2 months
4) Key competititve advantage - over last 4 years
have built brand recognition - largest number of hot spots in the Australia -
5000 hotspots worldwide in 60 countries - noone in the country has this huge
competitive advantage - last 12mths x WiFi to 20,000 apartments exclusive
agreements (some indefinite)
5) major growth in near future perceived as
digital home revolution - connectivity including WiFi + air conditioning + alarm
x connect from anywhere in the world
6) metrics/measurement/performance
indicators - a) customer usage x growth b) apartments x growth c) now in
profit
7) management - board of 4 (2 non-exec) - Some of the credentials: one
ex MD of Unisys and NCR, Chief Fin Officer - SAP, was head of finance
Singapore Airlines, Jonathan Soon
10) Value Proposition - fastest growing
industry in sector - forecast for wireless substantial growth over next 4 years
- established customer base to build on - continuously bringing out new
solutions - best positioned to take advantage of growth - also broadband market
x overcome barriers to entry in apartments - own patent technology
----- Original Message -----
Sent: Friday, April 16, 2004 1:35
PM
Subject: Re: [sharechat] Cris' Current
Watch List & SKG - Skynet Global
Other side of the coin:
ASX Announcement 6.4.04
March Quarter - sales up 440% to $998,000 for the
period Jan-March 2004 (compared to same period last year).
Cash Balance at the end of the period was
$1,007,000.
Sales are up and SKG are $17K
into profit.
----- Original Message -----
Sent: Thursday, April 15, 2004 4:13
PM
Subject: Re: [sharechat] Cris' Current
Watch List & SKG - Skynet Global
Extract from post by 'Russ' follows.
Content has not been verified.
' ... the books where audited
at the end of december and the auditors told SKG to reclassify some
capital expenditure as working capital for the December
quarter.
Thus SKG's cash flows this year are actually:
Q1:
109k profit
Q2: 430k LOSS
Q3: 17k profit
Mr Soon is talking to the ASX today about whether he has to make
a statement about the error as they are disputing the auditors
recommendations. ... '
----- Original Message -----
Sent: Thursday, April 08, 2004 8:48
AM
Subject: Re: [sharechat] Cris'
Current Watch List & SKG - Skynet Global
CAUTION: SKG
For anyone following SKG, please note there
have been some issues raised regarding their recent financial
report.
I (personally) have not had time
to review and confirm, however; a question has been raised
regarding an error in quoted working capital. I sent an email query to SKG
yesterday but have not yet received a response. This is fairly
significant and if confirmed, not good news.
The following is a copy of the issue. It was
raised on Sharescene.com:
........................Q1......Q2......Q3........YTD.............YTD
..................................................(calc
by me) (reported
yest.)
Receipts...........733......881.....988.......2602...........2601
Payments
Staff
Costs.........90......270.....253........613.............613
Marketing...........27.......37.......19..........83...............83
R&D....................0.........0.......12..........12...............12
Working
Cap.....510.....513.....695.......1718...........2213
Interest...............3.........5.........8...........16..............16
Net
cash
flow....109.......66.......17.........192...........-304
The
slight difference between Receipts calculated and reported are just a
rounding error I expect.
But the big error is the
Working Capital. Either they had made a mistake on yesterdays figures or
they have misreported previous periods. ... '
Sorry to not be in a position to clarify or
confirm details - unlikely to have time today either.
Anyone else want to review the financial
reports and comment?
Regards,
Cris
----- Original Message -----
Sent: Tuesday, April 06, 2004 1:11
PM
Subject: Re: [sharechat] Cris'
Current Watch List & SKG - Skynet Global
ASX Announcements:
SKG 1:00 PM March Quarter Sales
up 440% 1 PDF
SKG 1:00 PM ! Commitments Test Entity - Third Quarter
Report
----- Original Message -----
Sent: Wednesday, March 24, 2004
8:34 AM
Subject: Re: [sharechat] Cris'
Current Watch List & SKG - Skynet Global
ASX Announcement 8.30am - Wed, 24
March 2004
WiFi Roaming at McDonald's
Launched
Highlights:
1) 125 McDonalds outlets (over 20%
of the total number of wireless hotspots in Singapore) - adoption of
service is being promoted via free access offer to all McDonald's
customers until end April, followed by a highly competitive $3 fee. '
... "Indeed from our standpoint, it is not just about introducing
Internet terminals, flat-screen televisions and music videos into our
re-imaged restaurants but also helping to facilitate a wireless
networking lifestyle," said Bob Beard, Managing Director, McDonald's
Restaurants. ... '
2) SkyNetGlobal is an 'open network'.
That means ISPs are able to provide access to their members provided
there is a roaming agreement with SKG. This applies to access by
members by local ISPs and international ISPs through iPass or GRIC.
Ad-hoc users can also purchase access sessions from SkyNetGlobal on a
retail basis.
3) Singular wireless broadband network
based on the 802.11b technical standard + high quality, high grade
security via deployment of Cisco routers and security/LAN
technologies at each of the restaurants and at SKG's network core.
Managed VLAN switches ensure integrity. SKG is also a carriage network
for a number of VPNs (virtual private networks), including McDonalds
in-house data and backend traffic for any new services.
4) Advanced security and policy-based
traffic shaping, includes bandwidth control and service
placement support - allows differentiation of user experiences based
on service agreements with different categories of users.
5) Ease of purchase - retail single
session sales via credit card and is presently working on a system to
introduce 'stored value cards/cash cards'.
6) Fully customisable login page -
creates opportunities to perform e-commerce.
7) SKG network architecture - optimised
for future services under development - game server, video streaming,
video conferencing.
----- Original Message -----
Sent: Sunday, March 14, 2004
2:15 PM
Subject: [sharechat] Cris'
Current Watch List
Hi All,
As a fairly regular poster, I thought I'd share some of the more promising from my
present (evolving) watch list on the understanding it may be
different again tomorrow.
NB A good prospect today can be a bad
prospect tomorrow and vice versa depending on world events,
good/poor business planning and execution, changes in key executives
(eg KAZ last year), etc, etc, etc.
I consider all of the following to have
high growth potential. I'm reasonably sure all of these have
been summarized at varying times.
CBD - Maintain a vigil for best entry
price
INL - Wait a while for it to settle down again
IVN - May
take a while
MIC - Await confirmation of BioGold
acquisition
MUL - Great today, tomorrow, etc, etc (I researched
this one following an excellent tip from 'Oski' who posts
occasionally to an Ozzie forum.)
NLX - Hoping it will
drop a little more to make it worthwhile
PDR - Promising a return
of capital to shareholders
SKG - Market has grown a little bored
with SKG of late
VSG - Long overlooked - ticking time bomb
WAL
- Great buy today, tomorrow, etc, etc
ZYL - Wait until it
settles after Rights Offer period.
All the above notations are naturally
subject to change of circumstances.
These shares have what I consider to be
high growth potential which usually goes hand-in-hand with high
risk. I minimize risk via research and tracking.
These shares are suited to a patient,
long-term hold. Time frames will be dependent upon market trends and
factors.
As always, I like to share info
that may bring benefit to someone else.
Regards,
Cris
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