Ann: AGM FY20 presentation, page-21

Don't blame management for the drop in share price from a high of 70 cents to tonight's close at 55 cents.

The board and management should be applauded for the manner which they have managed the share price.

The value of SWF is enormous based on their revenue , profit and growth potential.

Market cap of $120 million for a business that might make $2 million in 2021 and could get to $4 million in a few years if the current momentum continues.

They have no real moat , just offer a price where it is hard to make real money.

Any body can offer low brokerage to compete.

The main one being Fin Clear or Open Markets who both have a moat as they are the broker and can easily price self wealth out of the market i they wanted to.