Hey ” jnimbusman” ..........good to see you are still around.   I guess time will tell if it was a good buy or just a gamble!

Just like last quarter I was trying to “guess” at a dollar value for the revenues for this quarter and decided that rather than putting a number on it since the accounting IMO is “conveniently convoluted” rather than complicated that I would just review what revenues sources might be included in the 3Q.

Last week in a post I stated:    “We can also hope that with the election over Henryk is currently working on some comments/details/news that he will release at the same time as the 3Q results are released next week!   I did say we can hope!

It has now been 15 months since Henryk stated the following:

Letter to Shareholders - Jul 28, 2011

• Launch of four commercial mobile financial service platforms in 2011, to be announced in the third quarter, subject to client approval.
• Execution of five contracts, with more than twenty opportunities in negotiation and more than twenty qualified prospects throughout the region

The release of the 2011 year end statements in March 2012 gave us this update:

Sales decreased slightly as our mobile financial services subsidiary, Utiba Americas or ATS experienced delays in anticipated license sales as a result of project postponements. ATS is still actively engaged in discussions with clients and expects to sign the projects in 2012. IMS has experienced a longer sale cycle than previously anticipated. Similarly the projects have migrated to 2012.
 

That was followed up by another Letter to Shareholders in April that provided the following table:

In previous posts I have stated that the MNO in Bolivia is Tigo and I have provided my DD on the Guatemala MNO being Claro (America Movil) and the Venezuela MNO being Digitel (have a look at who owns Digitel) – all now confirmed by being shown on the Utiba deployment map.  

 It would be nice to see an updated table showing the actual customers named and a status that is a little more detailed than “in deployment”! 

Remember the 8-K filed in June of 2012:

Form 8-K for ALTERNET SYSTEMS INC

Item 1.01 Entry into a Material Definitive Agreement.

On June 5, 2012, Alternet Systems, Inc. (the "Registrant"), through its majority owned subsidiary Utiba Americas, entered into a license sale agreement (the "Agreement") with a mobile network operator for the purchase of the Utiba software platform for electronic recharge. The sale was previously partially recorded for the period ending December, 2011, with the receipt of the purchase order. The agreement, signed June 5, 2012, commits Alternet subsidiary, Utiba Americas, to deliver, install and test the Utiba Mobility electronic recharge platform.

Sure would be nice to see an update on this one.

I can’t connect ALL the dots yet - there are a couple gaps that would take an “Evil Kinevil” jump to join but my SPECULATION is the deal referenced in the June 8-K was with Digicel for several locations in the Caribbean, remember I said MY speculation!

This is from the August 22 Letter to Shareholders:

Growing Footprint
Since our last shareholders letter of April 20th, in which we published a chart of customer accounts, we have advanced in negotiations with several other regional accounts that we hope to announce in the coming months. Until we have permission to do so, we cannot release customers' names or project scopes. 

Two such imminent accounts are mentioned in the "subsequent events" section of the second quarter filing, the first is an important financial institution in South America which will use our hosted (SaaS) platform and with whom we are signing a three year contract, with a two year automatic renewal. The second event mentioned is a license sale with a third party payment provider in Central America, which has successfully completed a paid pilot and is currently in the final stage of contract negotiations.

We continue to make inroads with other regional and local clients throughout the Americas and Caribbean.

On October 17 we got the news release about the South American financial institution being Banco FIE, so it would be nice to hear how the negotiations are going with the third party payment provider in Central America!

So we should see “some” revenue from the Digitel license sale for Venezuela,” some” revenue from the license sale referenced in the June 8 –K, no matter which MNO it is, ongoing transaction revenue from the Claro hosted service in Guatemala, maybe a small amount of ongoing transaction revenue from the Banco FIE service that was just announced – these are the ones we know about so far!  There are others listed in the table above that are in various stages of deployment that should also be providing “some” revenue. 

Was it a gamble?  Maybe........but be careful and remember I am just a   “Pump Dog”   “pumping the board with meaningless DD”

Always DYODD

DKM