Ann: Change in substantial holding, page-115

@2b2f
Thanks for the healthy discussion.
I appreciate that =)

re
" It's LT target is 40%.
Lets give it, realistically say 5% - 10%, in 5 years;
(Margin = 65%)
It is partnering Covata to achieve that.
Covata will get a small cut of Cisco 5-10% of mkt ($155B) '

-

'Small cut' = 55% ( after infra-structure cost),
or
27.5% of whole revenue received
= 55/200


Source, p6,
55/200 = 27.5%
http://www.asx.com.au/asxpdf/20150326/pdf/42xjhp5zh7kj3b.pdf

-

Covata's share of Safe-share Revenue per user, a year:

Cisco
@U$15/mth =180/yr =A$234 model,@27.5%
= A$64

is similar to

TSystems @E15/mth =E180/yr =A$250, @27,5%
= A$68

=A$65
av net revenue in Covata pocket
-

Cisco, has 30-40% of Fortune 1000 companies, 300-400 co's, av 52000 e/ee each:

Say uptake, next 10-20 months, by
10 companies x 52000 x $65 ,
= A$33.8m, net revenue

-

Based on MC of Direct competitors, Box and Dropbox, valued by VC is USA,
at 10x and 25c Revenue:

A$33.8 revenue:

x10 = A$338m , 85c

x25 = A$845m , $2.10

(Cisco rev only,
- not incl MTel or
TSystems revenue,
U$5m = A$6.5m,- by 30/3/16,
U$12m = A$15.5, by 30/3/17,
p110 prospectus)


-

Fyi,

Dropbox, Box

15070547
http://hotcopper.com.au/threads/moe...489865/page-109?post_id=15070547#.VUdBpJOAlIM


MC of Xero vs 1Page vs Covata

http://hotcopper.com.au/threads/nasdaq-listing.2496372/page-17?post_id=15118155#.VUdBWpOAlIM , 15118155