bystander01, I tend to agree with you. They may not be a multi-decade business and an alternative exit strategy may become apparent (hopefully a buy-out rather than insolvency!). CVCheck also seems to already have a strategy with targeting the HR departments and corporates.
It's just the IPO promised an aggressive advertising spend to quickly capture market share and after several million spent, and delivered with their supposedly superior technology, it's only gained 1-2% of total market share. (Crimtrac says they do 3.95M checks/year in 2014-2015).
The problem now is that even more market players exist than during their IPO plus some have some serious resources behind them namely Cersty (owned by SEEK/JORA). Also there are competitors claiming 30mins turn around time 24hrs/7days, which is better than CV Check's "1hr during business hours".
I think it would be a big ask to spend up on more advertising or CR to take out more competitors at this point.
As for being "sharp, tight operators" hopefully the current Board can show that over the near term, "getting good growth cheap" ... that ship may have sailed.
CV1 Price at posting:
17.5¢ Sentiment: Sell Disclosure: Not Held
