Ann: Appendix 4C - quarterly, page-75

I agree with you Petrj. They are really a consultancy firm with a niche product. They don't have the DNA for Innovation, they are more of an opportunity capture company. Their technology is not new and they have ZERO patents filed. The technology that they use for their flagship product is "Attribute Based Access Control " . This framework has been around for many years and many company in the document collaboration space uses this . AR9's only saving grace is that they have been able to repurpose their software to be in the ASD certified Cloud in Vault. ( I have mention this my older post) . But now that ASD is going away, I see many competitor coming in to eat their lunch by under cutting them.