For now I'm trying to keep an open mind on those contract wins. A number of the big ASIC contracts were due to end in December 2020, so it's possible they did end without further extension. The Dept of Health contract equates to approx $1m per year, so perhaps that knowledge gave CyberCX the confidence to complete our deal, knowing other contracts were on the cusp of expiry.
What I want to know from VOR is whether JL went as part of the deal to CyberCX? With HD becoming Executive Chairman on 15/1/21 it almost sounds like JL gave 30 days notice back on 16/12/20 and can serve out any further time as a NED.
In it CyberCX states it has a WA office with 50 staff, hoping to grow to 70 staff.
The CyberCX model allows the founders of heritage business units (C10 & DWX) to acquire equity alongside BGH Capital the main private equity shareholder of CyberCX.
JL not converting his CNs last year and this new desire of VOR to let RT walk away early from his escrowed shares makes me wonder whether they have been allowed to or intend to acquire equity in CyberCX. If so why does VOR have to pay the costs of that BS prospectus for RT?
As of 16/12/20 the directors of C10 were JL, RT & Macleod. Clearly RT was the founder of C10, but I wonder if JL is entitled to equity in CyberCX as part of this deal, assuming he went across to CyberCX.
VOR Price at posting:
17.5¢ Sentiment: None Disclosure: Held
