Open your eyes, page-168

Folks,

Don’t worry about it.

Here’re my numbers for FY19 (DYOR):

$8m EBITDA on $38m revenue ($28m management services, $10m tech). Cash in the bank. IP amortised as it goes so limited risk of surprise writedown. Insiders locked up %40 of the company since day 1.

Price target = 50c

The Big Fella is going into his 5th year of his investment in SPZ. He would be going ‘enough is enough, no more excuses, no more stuff ups’. It’s getting a little embarrassing for him few years on and watching market cap going nowhere. Gillespie and Ludbrook would need to hit these numbers no matter what or risk getting shown the door.

Fundies who get burnt/bored would exit as few already have. Players remaining would continue to bounce few hundred thousand shares to engineer a decimal point advantage each day over many months. Up to you whether you want to follow the bouncing ball daily or play a long game when few cents wouldn’t make a difference.