@CheerUp i'm guessing they wrote off close to RM18 million of development cost on software that is no longer or cannot be commercialized. I can only guess they spend between rm5 to 6 million on r&d every year based on their reports which means they just flushed away 3 years worth of r&d. Since they are already in deep shit, it's a good time to do it, get hit as much as possible before good earnings come in. Or, it could just be cleaning it up for a takeover or privatization. Time will tell.

@sheep the clarification in the announcement on how the pp will be spent pretty much confirms what i'm saying... they are out of cash.

another pp up to 10% of outstanding shares. that can only mean q4 16 wasn't great (probably narrow loss rm1-2m) and they need to shore up their cash position for their traditionally weak q1.

@sheep heard from insider the ceo and his sidekick larry gonna take the co private. so sure announce big big losses and push down the shareprice then sapu all the money from rev

Doubt the REV hardware and software will make any money. But getting a device onto every table in every Ajisen outlet in China and being able to sell media advertising on it? Now... that could be worth something. Whether they can execute or not....

major client signed in china. stock being sapu-ed by internal ppl today.