Norwood Systems Limited (ASX: NOR) which is a provider of voice, messaging and data services to consumers, enterprises and global carriers has announced its recent achievement where it has released version 2 of the world voicemail which is considered as most advance visual voicemail app.
The version 2 of the world voicemail has features that will integrate world voicemail to telecommunication networks and voicemail front end to enterprise phone networks. Further, the company will have a discussion regarding these features with the potential customers as well as those customers with which the company has signed an agreement.
Another achievement of the company is that it internally has developed a machine learning urgency filter where they can detect any urgent voicemail with an accuracy of up to 98%. If there is an urgent message, it gets reflected in the app through a different alert tone. Other features of machine learning urgency filter are that it is very user-friendly. It has options to replay the audio and navigate the audio files. Another important feature includes that the end user would be able to recover the voicemails if it is detected accidentally. It can even manage a large-scale user voicemail which gets archived under the sender id.
The CEO of the company, Mr. Paul Ostergaard believes that the advanced visual voicemail service has advanced features which are catching the attention of the market. There is also interest seen by many telecommunication companies to use their voicemail platform.
Android version of world voicemail is in the development phase, and it's soon to launch after its iOS version in the coming months.
Since the company got listed on ASX, it has consistently given a negative performance. The five years performance of the company is -54.28%. The last one-year performance of the company is -73.68%.
By the end of FY2018, the company made a net loss of $4,044,223 million. The balance sheet of the company appears quite healthy. However, there is an increase in the accumulated losses of the company which might create a negative impact on the shareholders. Also, the difference between the total current asset and total current liabilities is tiny which indicates that the company will somehow manage to meet its working capital as well as its existing short-term obligations.
There was a net cash outflow of $3,648,441 from the operating activities of the company. Here, the primary reason for cash outflow was the payment made to the supplier and employees.
There was a net cash inflow of $320,051 from the investing activities of the company. Here, the source of cash inflow was through the loan.
There was a net cash inflow of $2,927,142 from the financing activities of the company. Here, the primary reason for cash inflow was the issue of shares.
By the end of FY2018, the net cash and cash equivalent available with the company was $1,079,855.
By the end of the trading on 12 December 2018, the market price of the share is A$0.004 with the stock holding a market capitalization of A$7.84 million.
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