Interesting how CV1 releases a Q1FY18 update just before the AGM reports mentioning their inability to achieve breakeven by Q2FY18, and yet no mention of WHEN or HOW they plan to achieve this at the AGM? The reality is they have no plans to achieve it...perhaps they just HOPE to get lucky and have it fall upon their plate? How can news as significant as this be simply ignored by the Chairman? No mention in his report? Oh... "I'm excited about the next phase of CVCheck's growth..." Care to share what that may be??? My guess is that he wouldn't have a clue...
I've contended time and time again, CV1's IPO was never a plan to grow the company....It's always been an exit plan for the original management team. With Steve gone, and now Colin and Craig also gone too...they've made their bundles and can laugh it off! How do we know this? Have any of these folks taken up their options? I would think not!
As I've said all along, CV Check has a flawed and broken operating model. Since listing, CV1 has claimed to be continually investing in automation to yield greater efficiencies however this has yet to be realised. How is it that after 10+ years of operation they have not yet figured it out? The reality is that the management of CV1 is not interested in selling police checks, they are only interested in exiting...
For all the punters out here who think CV1 is going to actually make some money, I challenge you to prove me wrong. Re-read my posts...and then re-read yours...
CV1 Price at posting:
7.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)