Ann: Appendix 4D & Interim Financial Report, page-150

Imo, it's pretty obvious what went wrong, and you don't need any lunchbox experts to tell you that they didn't generate enough revenue/enough customers.  Painfully obvious.  That does validate some of the opinions that the market would not be enamoured with IAM's product offering, but hopefully that will change once we clear that first hurdle.

Perhaps the most understated about the why is the paragraph in the January announcement;

"Service Quality Delivery – A key shortcoming in the past has been a failure to deliver volume of work at a consistent / acceptable quality. Progress has been made and a new quality monitoring & management system (combined with intense training) is expected to continue improvement in this area."

So simply a case of management failing in the execution, to deliver quality work from "SH country" ESL staff.  The outsourcing was meant to be a temporary solution, however, until IAM could deliver the full suite of AI solutions.

When was the last time we heard about any exciting developments with the tech?  I imagine that once the CBA deal is struck, we can leave the cone of silence that has been around us for just over a year now.  Clearly, the market is sick of the situation, but hopefully our consternation will be rewarded.