Straight from the Directors report!
"During the period, the Company entered into the cybersecurity business and thereby, has two principal
activities.
Firstly, TSN acquired and holds a 100% investment in Decipher Works Pty Ltd (“DWX”), a cybersecurity
specialist based in Sydney. DWX provides consulting and managed services, primarily in Identity and
Access Management, to financial institutions and large corporations. DWX has gradually built a loyal client base that provide a regular revenue stream from repeat or recurring revenue business. As a result,
DWX is expected to continue generating positive cash flow and EBITDA to TSN (refer Note 6: Goodwill for details of acquisition).
Secondly, the Group continues to hold a 24.89% interest in Transaction Solutions International (India)
Private Limited (“TSI India”), whose business is building recurring revenue through the deployment of ATMs on behalf of major banks in India. In addition, TSI India has contracts to service the financial payments sector through automation of bill payment processes in a market that is migrating from paper based to electronic transactions.
The Group recorded a loss from continuing operations for the half-year ended 30 September 2017 of
$507,566 (2016: loss of $811,622).
There was no change in the fair value of available-for-sale assets recorded by the Group during the half year. (2016: no gain)"
I cannot help but think that revenue will yet again be the rise this quarter and losses will move into profits in the near term.
We are gaining traction. Watch TSN fly IMHO. The SP is certainly in better shape than last October.
Gracie
