After not hearing anything from the company I decided to write another email and also forwarded the previous email to the company investor email. Less than 2 hours later, I received a phone call from John Rayment. He did apologise for the company not responding to my previous email. I do have to give credit to our CEO for the phone call and it does indicate that the company does have regard for their shareholders.
He did comment that he feels we are undervalued and he referenced his allocation acceptance in the recent raise.
He mentioned that the NAB purchase of Citibank in Australia had been time consuming and a distraction for the company. He also said that in hindsight the company should have focused on the smaller companies rather than trying to land one of the major banks.
He mentioned that Payble was doing well but CBA essentially has control of that and that's why Identitii can't put out much regarding Payble numbers.
Regarding the patent, he said that things were progressing in trying to realise value from that but he said that he was unable to say anything or even give any market update on that. As I recall, it was a similar response from Michael Kotowicz last year who didn't want to say anything regarding the patent.
He did say that he was optimistic that the sales team were making progress with their discussions with clients and that it was a different workforce than what was there a couple of years ago. He mentioned the new cost saving strategy.
To be honest, he was quite tight-lipped and not someone that would give away too much. I guess this is how they are supposed to be but as a result, I really can't say that I'm entirely confident about what lies ahead. I still think we have enough seeds with the Overlay + platform, the patent, and our interest in Payble to be worth considerably more than $6.8 million and I'm prepared to continue holding and seeing where this can go from here.
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