Ann: December 2019 half year results summary, page-7

I've done intensive research on this company along with others in the small cap Telco space. It was a terrible IPO. In hindsight the forecast was ridiculous. I attended a investor brief from the CEO Ben Gilbert post the IPO and he was less that inspiring to say the least. I dumped immediately after the briefing at 21c. The price kept heading down with poor results. The first to go was Director Cameron Petricevic TTOR who jumped just prior to the first AGM. Then there was a release about a warranty claim on the original Comms Choice that was part of the IPO. So I suspect that was in someway responsible for the poor results. Then that owner who was also a CCG Director Grant Ellison, quit as a director shortly after the warranty claim was settled with what looks to be about 10mil less shares than originally suggested in prospectus. So join the dots there. Looks like he is starting a Cap Eq company that I will be steering clear of. Ben Gilbert the CEO left in March 2019 but in keeping with the trend appears to have since started a Cap Eq company but I will also be steering clear of anything to do with that. After that they announced a restructure with Experienced CEO and Board member Peter McGrath taking over. They kept John McKay ex Speedcast as Chair so I am surprised he survived the ride from 25c to 4c My take from the prospectus and results is it seems to be a good underlying business that was poorly ran. It looks like they ripped through the $7m cash on listing without any outcome. After Ben Gilbert went they have restructured and replaced part of the Management Team. I have been back buying since in April this year at. 4-6c thinking they might be a M&A target. The recent results are the first step in the right direction since listing. History complete!