Ann: AGM Investor Presentation, page-40

@WestTrader057
CL8 effectively altered its business model from crowdsourcing cars to a third party fleet manager, what is worst, they let the suppliers sit on the board, so those Turner and SG Fleet paid $1m or $2m, but permanently controlled the revenue model and car sources. Say Turner wouldn't let VW in, would they?

So a company, no IPs, no controls of its operation, bleeding $1m a quarter since day one, and blaming everyone else for the price war without admitting its own cost base never would have made business sense.

Look at CXZ, they serve one client, makes similar revenue, similar market cap but profitable because they don't have ongoing maintenance costs like CL8, owns the IP and directors only take home less than $300,000 altogether. For what Chris has achieved, a salary of $150k is generous, a typical public servant.