No Mike, it was suggested that it would be an acquisition in relation to the HR Tech side of the operation. Andrew said it was this calendar year and although I always think people get confused about timing at this time of year (!) I genuinely think he means in the next few weeks. Mike, that makes sense, they don't want that $5 mill burning a hole in their pocket without putting some of it to use asap. This is why i asked the question about whether they pay interest on the full amount immediately or only when drawn down. (The loan is costing $40k a month in interest ... they know that, they've done the sums, he said that himself). They've raised with a view to not simply opex but to buy something. That's my strong conclusion. This is good news, in fact the more i've pondered it I have concluded that it's great news. I honestly think they realise 'it's now or never'. They have bought themselves some time with the $5 million and now they realise they have to start swinging HARD. I get the impression the directors are as frustrated as the shareholders are. Again, this is good news. We can all carry on but at the end of the day I think these directors are not fools. And whilst I think that 10% is way over the odds ... 10% is cheap if they buy well. I have ALWAYS thought these guys will buy well, and they proved it with AOM. I'm going to give them a lot more time. It is killing me but I haven't lost faith. As to whether it's a buy at this price, well I would have thought it's punt of the year but I've been wrong before. Clearly this ain't financial advice.
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