Ann: Results of Extraordinary General Meeting, page-10

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yesbutrushort

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07/09/18

09:27

Post #: 35459665
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Originally posted by dim81 ↑

Hi All,
A few points that piqued my interest from the report and extraordinary meeting.
Unfortunately didn't make it personally.
1) Foregoing of bonus by Joel and Bane. This was either voluntary, forced through new board or mutually agreed. Either way, this is a good look considering the circumstances.
2) Comments of M Fricklas as reported in the Australian. It would take a lot to get this guy excited, and he specifically mentions the personal assessment he made into the character of the board and opportunity set of the company. Exactly what I wanted to hear, he has linked his reputation and attached his mast to the business.
3) Key audit matter on share based payment expense related to milestone C onwards. Management have reassessed and increased the expense for the period, meaning they expect these milestones to be reached earlier than previously anticipated. Either new enterprise customers or increased deliveries from existing enterprise customers would lead to this outcome, along with no loss of existing customers.
So in short, they can't predict when profitable due to the class action, but they are excited about upcoming growth in deliveries.

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@dim81 mate thank you for your analysis. Do you think the revision in share based payment expense line means milestone c will be hit this quarter?

Not going to hold you to anything obviously, just interested in your read. if milestone c is hit this quarter, that aligns with this forums OG user (and KO investments) timeline.

Rocco

GSW Price at posting: 42.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ann: Results of Extraordinary General Meeting, page-10

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