Misleading and deceptive conduct of AFR, page-84

Hi Dim 81,

1 and 2. Yeah fair point FF not marked price sensitive and Fruit box not much added value.

3. But Joel Macdonald saying a 7 million delivery a year customer not moving forwards as not important now and he wasn't aware of it. I just don't buy either of those... I haven't decreased my holding of gsw yet, and it's worth a packet right now ( but for how long??) I've said before I work on software sales. With no sales staff as they have said before, that says to me there is not a lot of internal hierarchy. Makes for very transparent goings on in the gsw company. If no sales staff who is responsible for selling? Bane and Joel that's who. So how can Joel not be aware of a deal, that if implemented would grow his 255 k quarterly revenue by another 350k (or 120%!)... come on... how could Joel not know or think the 7 million delivery a year customer was material enough to mention they weren't moving ahead....

4. Am sitting ok with cba. Cba have told AFR they have signed a contract but are still in pilot phase that's totally ok with me. If CBA are going to integrate getswift into POS terminals that will go out to 90,000 merchants... could you imagine if they don't do enough beta testing and merchants are negatively impacted? Cba will test and retest and over again before they then give it to their retail customers... cba has a great brand and they cannot jeopardise that with something that doesn't work as labelled. I do feel quite uncomfortable with GSW saying its up to 250 million deliveries over 5 years. I thi k they need to update shareholders regularly each quarter on how cba is going against their forecast of 250 million so shareholders know. Management owe that as duty of disclosure. It's too early to tell on cba. Cba not approving the latest update. Quite possible could have been a miscommunication. It's a huge org. Someone at cba could have said it's ok, and that hasn't filtered through to the person AFR spoke to...

5. I have read up on Sig Mosley and it's great he is on the board. He sits on a total of 16 company boards. An article says he knows about logisitcs and he wanted to invest in GSW but didnt because it had already grown so quickly.

I know a couple of guys in australia who sit on boards. They are partners or were partners at the top 4 consultancies. Being on the board one was paid 75 k a year to attend 4 meetings a year and provide professional counsel and advice... companies can utilise their expertise... but my belief is GSW is paying Sig to sit on the board. He isn't doing it for free. And Sig hasn't invested in GSW yet but believes strongly in GSW.

I took a look on both Banes and Joel's Twitter. I am a bit concerned about Bane posting shit like this is a great coffee... seems a bit childish.... Joel's is more professional.

I will reiterate what others have already said. I think this article has cast legitimate doubt on management's transparency on deals won and lost that are material to where the company is now in revenue and delivery terms and what should or shouldn't be made avail to share holders. I think gsw management need to address the AFR article, and have seen short activity do this kind of share scare campaign before on several mining stock which was successful in reducing share price in the short 3-6 month time frame with no legal ramifications resulting on the shorters by leaking info to the AFR, using the AFR like a puppet.

Bane has said strong unabated growth for several quarters. That there will be a quantum leap in revenues in 2018. I am holding until I see the latest quarterly. I don't expect huge gains in revenue until cba, na Williams, and yum brands kick in. These 3 if forecasts are correct equal 1.6 billion deliveries a year...but realistically, if those numbers are real then I would expect a heap heap more staff will need to be hired to implement... like I am thinking 50 or so more staff, not 5.
And I want to see quarterly figures reflect the numbers they are forecasting and don't believe that will start showing until the q1 and q2 quarterly.

Still holding. Let's see