CR8 Overview, page-29

I was told the same on all of these other boards that I wrote my opinion on the company.

One thing has stood out during this entire course is that over the course of time none of these companies proved meaningful revenues. Brokers did their part and dumped the stock while retail holders were left strangled.

If as a retail holder you want to throw your hard earned money then certainly invest based on blue sky methodologies. Brokers often take advice from people in the same field in how good their investment is going to be if holding long term.

Think of 1PG at heights of $5. Look at it now. The trajectory is similar

a) empty shell
b) inject broker cash
c) blue sky tech with all buzz words
d) pump
e) retail entry
f) dump
g) rinse and repeat with a new shell.

Unfortunately, ASX got caught with their pants down and are now tightening the noose on such practices with Chap1 and Chap2 compliance. As mentioned, it is not my intention to be hostile or down ramp. I am asking questions any regular investor will ask before making a sound investment in this company.

I think perhaps for last 15 years I have seen companies train work force, outsource work force, build better software for customer service, improve cost on CS by trialling automated bots and so on and yet the quality of customer service is fairly below par.

The problem is that when trying to solve problems for a customer the nuances of the culture, the language, the trust in other person are all important that these new generation so-called "AI based" CS system ignore. I would hardly call it AI. It is a glorified version of a chatbot and autosuggest.

Perhaps you could ask the same question of Google with millions in computing power and billions in machine learning, they can't fix their search results.One must appreciate that true innovation on customer service or conversion based products doesn't come from just implementing AI but being on the forefront of AI.

Sadly, neither of the criteria CR8 fulfils.

As a retail investor, one must ask the question why NAB did not take the paid offerings ? Whether their integration team was incompetent is secondary. I believe that in enterprise the 95% of the sale happens based on vendors trust. The age of the company, the complexity of the use cases, the integrations, workflow are all questions worth asking.

Revenue is secondary in a growing startup but if the idea cannot be validated with a paid customer with your MVP then your product is a novel version of just another boilerplate SAAS app.

Can we reign in some of your blue sky optimism ?

They did not buy it in 15 minutes. They are trialling it on one segmented version of their product which will have minimal exposure. Look at KNO and some other glorified version of SAAS app and what has happened to them in the past.

Barring ISX , I would say there is not a single company on ASX worthy of being Atlassian. Even with ISX I only say that because they are fully validated and have been listed for a long time on ASX. They are on the verge of reaping the rewards.

I have personally spoken to various faculty from business schools in attendance after their presentation last year and over time have only validated the hypothesis of them becoming the only entity in EU and AU with control of identity info. This is equivalent of saying they are the tesla equivalent of electric cars.

Even though I have high hopes for BRN, your constant bashing does not dictate the share price. If you have valid points or criticism against the company then I am all ears.

In fact, I personally have been critical of BRN in certain aspects most recently of the timing of their capital placement. The downside of the technology not being adopted or even failing timelines.

I maintain a healthy piece of scepticism for all companies I hold and the only way to make money is being cynical when others are not. You miss some trains but the ones you catch usually take you to your destination.

Good Luck Mate !

Other questions

- What integrations are available for apps ? (asana , slack...)
- What maintenance packages are available ?
- Where is the data stored ?
- What security measures are in place to avoid theft of data ?
- Is it PCI compliant ?
- Is there an API available for integration ?
- Does it work as turnkey or developer/TL setup is required ?
- Is it self-hosted or is it on premise ?
- Is the code extensible or the AI is proprietary ?
- Has the AI passed some meaningful benchmarks ?

I could go on but you get some basic idea