Ann: Company Overview & Update, page-4

I think Rewardle directors are trying to market themselve for a company to make a takeover bid.

I think they realise this reward business is harder than they expected.
I do like the option of scan or produce you own plastic card. That was innovative. So very big thumbs up on that idea.

Any purchaser of the Rewardle will do a competitor analysis and when they see BPS and there cashflow and mgt, they will give up.

The only possible buyer for Rewardle is BPS, and they can afford to wait and see the sp get smashed.

Dont think for one moment BPS will make things work better. I never see anyone scan things. It may work in the US (and Im not sure about that either)

Maybe this whole large scale reward business is not going to work fullstop.

rEwardle hit every market, every Aust city etc and tried to maximize the number of merchants etc.
BPS on the other hand concentrated initially on 3 midsize country towns and tried to get them working
Ie multiple cross use by their bacqui reward card. I don't know how it has worked in those 3 towns. The idea is to slowly go from one place to another. Not the whole of Melbourne but a geographic section of Melb first. etc

Rewardle took on too much and are probably in very desperate situation, where the directors are trying to cashout if possible. They probably got most of their shares for free plus earn a salary on the way through. So dont be too freindly to them.