Glass half full vs Glass half empty, page-89

No 403, if we are getting basics right lets get them right... See here is the magic with GSW announcements and the thing I find truly remarkable given the issues of the last weeks and supposed involvement of external professionals.

"Of all Enterprise Clients signed up so far, 50% have reached revenue phase." No... "almost 50%" - no quantification how far short, just "almost".

"all clients who have dropped off been announced by the company" No... "The majority" continue to progress... another undefined directional comment.

Further, is there clarity on what the "almost 50%", 90% and "majority" actually mean? By number of customers? By expected revenues? Deliveries? Transactions? or other? Surely the difference here is crucial? It staggers me that given multiple ASX queries AND the involvement of PWC this still isn't clear.

I have no dog in the fight (at this stage) I'm an interested observer. But to me the above like, the response to the ASX re CBA and "GSW has no reason to believe that CBA will not use the platform" sit somewhere between disrespect for the regulator and contempt for shareholders, neither of which are positive...[/QUOTE]

1. It makes no difference if the number of clients who have reached revenue stage is 40% or 50%. Clearly what is important is that they have successfully integrated half of their signed enterprise clients and are working through integrating the next half. The Dec quarter 4C showed growth in delivery numbers above 20%.

2. GSW have already disclosed which clients are no longer using the platform and which clients did not progress past trial phase. The rest, 'the majority', continue to work on integrating the platform into their ecosystem. Any further losses in clients will be announced to the market as stated by the company.

3. By clients. GSW has a Enterprise Client retention rate of 90%. Only need to read between the lines to understand that means they retain 90% of their clients. As in, out of 10 signed clients 9 continue to use the platform.

4. When CBA signed the contract with GSW, they explicitly agreed to use GSW platform in their POS system subject to compatibility testing. Unless CBA says otherwise, there's nothing to see. What else can the company say? CBA have agreed to use it, and unless they say otherwise, that will happen.