Guys -
Some starting to sound desperate- Can I suggest that we leave Nick alone to run the company - I personally would rather have Nick spending his time driving the business forward rather than sitting there answering emails from Hotcopper members-
We need to let the CEO spend his valuable time on growing the business.
The company have a Corporate Communications Director for this purpose so you should direct your concerns to him and remember the announcements will come when they are ready to come - we have no control over this and patience is necessary - those who which to trade this for a few pips will show up as the anxious ones amongst us
Also the recent capital raising and distribution of funds for the business are as follows
STATEMENT OF COMMITMENTS
The Company intends to apply funds raised from the Public Offer in the next two years following reinstatement of the Company to Official Quotation on ASX as follows:
Item $
Purchase price under the Headend Sale Agreement 300,000
Capital expenditure at Lahore development centre 99,000
Repayment of Convertible Notes 332,500
Application servers 115,000
Research and development 890,000
Marketing 420,000
Expenses of the Offers 550,000 Working capital 1,319,500 Total 4,026,000
SO AS YOU CAN SEE above out of the $4 million raised we only have $1.3 million working capital - i would have preferred we have more cash in hand but alot gets swallowed up by all the other costs - i think we need to show some revenue and cashflow numbers and until then we will languish until the motor starts to purr -
In talking to the company I understood that we needed at least $6 million to upwards of $10M expand the Hub so this is potentially why we have a low share price IMO - market is tough right now so we need to show some revenue numbers and deliver on the outstanding L.O.I's we had in place prior to the RTO -
