I am a long time investor in the small cap telco market and have...

I am a long time investor in the small cap telco market and have been on CC since IPO but sold the bulk of my holding after listening to the original CEO speak. After hearing him speak at an investor pres I fled and dumped it all. I came back in at 4-7c and have followed them closely since IPO. They have been quiet recently and not much movement in price but did have some solid trading volume a few months ago. The IPO was a complete disaster and I don't know how the original CEO Ben Gilbert and Cameron Petricevic who did the Cap raise got it through the ASX. It went bad quickly. They then look to have binned a few directors and the CEO. 1 of the Directors moved on was Grant Ellison who owned one of the companies that listed. He looks to have had about 10 million shares stripped off him at the time of departure so read into that what you will. The numbers on IPO were out by miles. PWC did the pre IPO numbers. I thought the numbers were so far out that I wouldn't be surprised if ASX investigated and someone went to jail.

Their website is showing a new experienced CEO Peter McGrath and management team and the recent results are encouraging. If they announce a good full year and meet forecast of $2mil + then it represents a significant turn around and I agree that Val is low.

Given the first half I expect they will be ahead of forecast but who knows what impact Covid will have. If they don't meet forecast I'll dump and run for good.