Agree, Mardo.
From hero - foundation client of Pointerra's Global Data Market - to zero in very short order.
Of more than passing interest - to me at least - is this:
"An application for the winding up of Total Earth Solutions Pty Ltd was commenced by the plaintiff Aerometrex Pty Ltd ACN 153103925 on 26/06/2018 and will be heard as set out below."
Here is AEROmetrex:
AEROmetrex has a great deal of experience in mapping and related activities within the fields of quality aerial photography and photogrammetric mapping.
We provide cutting-edge geospatial solutions exploiting both existing and emerging air and ground imaging technologies. AEROmetrex is fully Australian owned and all work is performed in Australia.
Since its foundation in 1977, AEROmetrex has significantly expanded its scope and scale of operations so that today it is one of Australia’s foremost companies in the field of geospatial data collection, management and distribution by exploiting both existing and emerging air and ground imaging technologies.
So, a competitor of TES commenced Proceedings for Winding Up, presumably over an unpaid debt.
Seems to me there might be more going on here than meets the eye. Disappointing that TES were sailing so close to the wind that they were unable to pay their debts as and when they fell due, ultimately resulting in liquidation at the hands of a competitor. Conversely, a convenient - if somewhat Machiavellian way - to neutarlise an emerging competitor!
Maybe we will see AEROmetrix emerge as a client/customer of Pointerra?
Either way, can't see it having any negative effect on Pointerra's business going forward. At best, inconvenient, at worst a temporary distraction, but no material loss revenue-wise at such an early stage of the venture.
In the latest 4C Ian re-iterated situation re CFP:
"In addition to growing the number of sales opportunities, the profile of the sales pipeline continues to mature, meaning that individual opportunities are moving through the various stages of the sales process.
"As previously reported, the combined value of the most prospective of these (evaluation trial, paid trial and under-proposal, awaiting award) customers is more than sufficient to move Pointerra into a cashflow positive position following their successful conversion into full DaaS licenses.
"The sales pipeline now comprises some 800 discrete sales opportunities with a combined value of more than $20 million per annum in recurring DaaS income. "
As a former EY partner, doubt he would continue to provide such "guidance" re reaching CFP without good cause.
10% conversion rate on the sales pipeline would do the trick and dramatically change the outlook.
