Ann: Appendix 4E and 2020 Financial Report, page-14

Well,

I suppose they have relied on a few bits of information:
- 1 client is providing 35% of total revenue
- Logo revenue has doubled in the last six months, i.e. 2x from Dec-19, mainly after the take over.

If, as they stated in the acquisition release, Logo is an enabler and enterprise clients will start using the Getswift platform, this is good news.
" will position it uniquely as a onestop shop, enabling GetSwift to work with larger enterprise clients and accelerate its global
expansion."

However, if Logo product and services in this growth period are unrelated to the last mile component of the platform, then, we are rapidly transitioning away from the Saas last mile play we were told... to become materially an IT services provider.

We wont have long to wait to see what the truth is. With the balance of trade receivables and trade payables at year end, something big is doing down. We are foot to the floor until we crash, if you believe some here, or, we are just starting to achieve scale.

In my opinion, the owners of Logo would not sell for such a low multiple and keep 40% of the business unless they expected big things.

All the best,
dim81