1. Majority of those resignations were planned in that they were strategically agreed to as part of the RTO. The only "unplanned" ones were David Dickinson and Shaun Sutton. David has a significant business called VComms which he has to concentrate on in NZ and Shaun's health issues were out of our control. All others were planned so nothing to read into this.
2. Was a massive transformation year and quite frankly the 2017FY year will be a big one also.
3. The NeoICP investment is a strategic investment and we are the only ATM deployer in Australia that has an ownership interest in its ATM manufacturer. NeoICP is in fact looking to IPO in Asia, has paid a dividend this year and also had record result... Undervalued investment on our balance IMHO.
In terms of current staff numbers we have 20 FTE and this includes the board and company secretary so arguable pretty lean.... We have approx the same number of agents as staff on comm. only.
In most instances we use our own staff to perform 95%+ of our work. We have office/warehouse locations in NSW (2), QLD and the Head Office is in Perth. The beauty of a technology business is a significant amount of this work can now be done remotely. I have been in this game 16+ years and 16 years ago your technical fleet staff numbers would have had to be 3x the size to physically visit sites and provide the 'star' treatment.
Being a chartered accountant myself, our report is very detailed. I wonder how many will pick up on the DTA not booked in our balance sheet which is a $6mil asset? This will most likely be booked by the auditors at half year or the full 2017 year result.
STL Price at posting:
3.3¢ Sentiment: None Disclosure: Held
