From the earlier discussion on here I was hoping that Eddie...

From the earlier discussion on here I was hoping that Eddie Sugar was going to be the knight in shining armour. I recall he is supposed to be working on gaining committed investors in the US so that future capital raisings are unnecessary.

I have checked out what I can about him on google and linkedin (thanx again H) and his track record is impressive. It says ESA have raised $2.5 billion since 2008!!! Getting $50 million or so for IWG should be a doddle given his statement:

'EAS is engaging with iWebGate as we believe that the Company has a technology platform that is extremely well positioned to gain considerable market share in the global IT security sector. As headline security breaches are becoming nearly daily events, we feel the growth prospects for iWebGate within and beyond Australia are tremendous and we believe we can add value to the company in pursuit of these commercial goals.

We find the value proposition for the technology to be a compelling case for business given the attractive cost model and the feature's iWebGate's technology offers. Furthermore, given the global relevance of the services the Company provides and its recurring revenue model, we believe it will be a company of interest to many of the investors with which we regularly interact'.

So, ESA make money out of raising money. If they're out there promoting iWebGate and they are as successful as they have been previously it is not unrealistic to think they can raise more than enough to make future capital raisings redundant.