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Ann: Results of Meeting, page-15

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Oscar09

26,863 Posts.

1309

30/11/16

20:54

Post #: 21009632
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Originally posted by Gycor ↑

Thanks for the feedback from the AGM for those who attended. I have taken some time to think and investigate further the proposed way forward. I will outline my opinion / points below:

1. First off, there was a need for a new approach and this is a new direction that could work.
We craved it and we got it. CHANGE

2. Isity Global is a very new company with a said valuation of $10 million. I question this valuation at this point in time as their website is generalised and being a private entity does not allow us to see the justification. Detail is not public. This will be made available in due course.

3. Based on the Linked In information I see linkages between management and directors back to Accenture and the use of IBM software solutions for their solutions. Was Isity Global dealing with David when he was working for IBM?

4. Mr Charles Hunting's appointment as a Non Executive Director of Kollakorn in Feb 2015. This is a around the time Isity was created. His CV summary...He has more than 20 years of management, executive and director experience across the Asia Pacific region. He has previously filled the role of Managing Director or Chief Executive Officer for the regional businesses of a number of listed global multinationals and most recently has and founded a number of exciting ventures in the region. Charles is an advisor to companies in the achievement of transformational change and creating companies to take advantage of technology and innovation.
Looks to me like it was a planned transformation. Why didnt the KKL website reflect his role with Isity?

5. I get the impression that Isity is an enabler using various technologies/partners to provide solutions. Good salesmen but not hands on. Achieved professionals that know how to work smart. How will KKL fit into this approach? Does KKL Thailand become a partner? If so, how will the Somapa IT clan integrate into this considering what they do is similar but in different industries?

6. Without direct knowledge it looks to me like there has been a lot of planning involved for this acquisition. Isity needed runs on the board to create value and it looks to be very recent with China & Australia. No runs would not have allowed this proposal to be tabled or accepted by major shareholders.

7. KKL technology will add a very different suite of plug ins so to speak and will more than likely become a standard in Isity's offering. This will allow direct sales without middlemen and hopefully the adoption of best practice in that space. i.e. Tag read... boom gates open... car access.... activates lights air-conditioning in complex orappartment. I dont know but I can see so many value adds.

8. If contracts are in the millions then it wont take long to have money for $ for CSIRO $ to advance Certain ID. Then you can add that into the services offered as well. Using your fingerprint you can control your entire appartment from a distance, including energy use without transmitting your biometrics to the world.

Now this would have to be a fantastic selling point. Think of the Burk Khalifa Building in Dubai, Emirates want the best and love the smartest in the world. That building, other than being the tallest in the world has a mix or residential, commercial. Paid carparks, linkages to retail... Isity would be in the box office position to pitch for a building like that.

9. It takes the right people to position the new entity to pitch and succeed so I am hoping that this new team will be the right one for the job. David must have worked day and night to get to this stage and obviously Richard helped (I wish Richards a speedy recovery from the OP). A lot of thought has gone into it at this stage so I am hoping that as more information is made available we will start to see the full picture.

10. I believe that we as KKL shareholders will have to say goodbye to our tunnel vision for BOR RFID and Certain ID and will have to learn to embrace the various other technologies Isity will have in their war chest. Sure BOR RFID and Certain ID will still be a big part of the offering but I personally will have to embrace the whole package and not focus on KKL's technology. By teaming up with the other technologies we have a greater chance of success.

In summary I see that this acquisition can work but I will need to see the detail of Isity and what is this company. Its going to take time and there are many hurdles but I believe that it will happen. I just hope that we dont have to go through the same torture of the past.

Just remember I put this together with limited information and I might have completely missed some concepts. Anyway ... enjoy for those who are interested.

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Thanks for that thorough analysis of the current position.

I too think this is potentially very positive for KKL.
We need to get bigger and more immersed in more markets, asap.
KKL is getting small market share in several locations but not expanding quickly enough. This side of the business needs more exposure and more sales volume. Isity will boost our profile across many fields, and allow us a bigger more serious presence.
Did I hear someone mention a name change ?
Do we become Isity? Or something else?

KKL Price at posting: 0.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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