Not all of c5 needs to be written down as there are still some functions in use. However I believe a large amount of it will have to go. As much as genesys is 'just' a dialer system, it manages from what Anthony said, all payments and interactions currently with customers, it was stated that instead of entering payments into c5 they direct customers to the website Anthony developed to pay. What should happen is an analysis of the components c5 has failed on and is needed by the business, once these are written off, the board must move to purchase industry standard software immediately.
In regard to insiders selling their shares, the board said "we were collecting less then normal but that meant we were going to collect more later in the year so we were not worried". I personally don't believe this is a reasonable point in the debt collection business. So they did know they were collecting less than normal when they sold out.
CLH Price at posting:
$1.35 Sentiment: Hold Disclosure: Not Held
