Australia
Netlinkz approaching key milestone of turning cashflow positive
Netlinkz Limited (ASX:NET) is approaching a key milestone of turning cashflow positive as business development initiatives begin to take hold in various markets and other markets show encouraging signs.
An indication of this was provided by a sharp jump in revenue in the second half of financial year 2020, rising from $640,529 in the first half to $4,612,755 in the second half.
The company said it was developing the sales pipeline for various geographies, including the ASEAN region as well as China, Japan and India.
Netlinkz Global Australia is also being restructured to focus on sales and local contracts have been executed.
Ahead of schedule[hhmc]
Further, the company said it was ahead of its planned product update.
As at its EGM on September 17, 2020, the company had reached its 2022 target of product maturity and sales.
It had planned for product iteration in 2023 and product evolution in 2024.
[hhmc]
Opportunities ahead[hhmc]
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