I thought the Chairman's Letter to Shareholders and the CEO's Report was far more informative than we have had in the past. No question that recent times have now proved to have been very disappointing and the management changes and board dismissals a few years back are probably well justified considering the abysmal strategic planning, development and implementation to cope with changing business environment and technology. Regardless of where the blame lies, the result is still a current fail and acknowledged by the Chairman.
The clarity from the Chairman and CEO with respect to what is now in place to restore Corum's position as a unique leader in pharmacy software and service can give us encouragement but also provide us a clear measuring stick to apply to their report card at the end of 2016/17 and beyond.
With respect to the payment service business the continued decline is concerning. It has been a huge growth area over the last decade so Corum has obviously missed opportunities. I am sure there are still some niche areas that can be investigated. There are still quite a few entities where you can still only pay fees and subs online by credit card.
The chance of an imminent uplift in the share price is therefore dependent on finding the right partner for an alliance or joint venture that promises certain accretive business opportunity.
COO Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
