I'll look forward to seeing the quarterly and audited half...

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HairyRichard

3,874 Posts.

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27/12/19

15:18

Post #: 42140542
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Originally posted by Green Bull: ↑

Hi Richard,

iCetana is a completely different beast now.

New/proven Management and new structure.

COO, in previous position, led the tech team that drove VGW revenue from $300/day to $1.4m/day.

A big change, which will reduce costs and increase revenue, is the change from Sales staff (who are normally on ~$150k-$200k per annum each) to now Chubb, etc., doing a lot of the selling of the iCetana offering on behalf of iCetana.

How many customers does Chubb, etc., have? A looot!!

Also, from 2018 to 2019 (which show some of these cost reductions):

Revenue: up slightly to $1.4M

Employment Costs: reduced by $1.2M (24%)

Advertising: reduced by $366k (66%)

They have also locked in $1.6M in the first 10.5 months of 2019.

$1.6M annualised comes to $1.83M which is a lot higher than the $1.4M in FY19.

Seeing that:

- the Team has just started working together

- under the new structure,

- listed on the ASX,

- raised $5M,

- 200+ deals in the pipeline/on the go;

it will expand rapidly from here.

They are looking to be cashflow positive from the IPO raise.

Looking forward to some of these 200+ deals starting to get announced in the new year.

Cheers,

GB.

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I'll look forward to seeing the quarterly and audited half year over the next couple of months then

If what you say is all true, then it doesn't sound so bad. I did notice the losses were shrinking but I'd be highly skeptical of them being CF+ right now

ICE Price at posting: 17.5¢ Sentiment: None Disclosure: Not Held
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