My judgement is based on assessing the impact of Dirk's...

My judgement is based on assessing the impact of Dirk's comments. Maybe others missed the importance of his comments about customers and bottom line growth as opposed to top line. Petra too made clear reference to the shift in their customer numbers that would indicate that even with additional customer acquisition the rate of growth would slow before it starts to pick up.

During last year I was constantly perturbed by the confused language, flakey figures and lack of clear trend lines in the customer numbers and progress in the "target" markets. Repeated attempts to clarify any of this data met with equally evasive responses. That's why no one ever saw an analysis from me on that matter. I couldn't make it work sensibly. I picked last quarters figure for myself but it was based on so much reworking that I had no confidence in it at all. Might go look at my prediction for this quarter

I have heard reference to the licence enough times to think I will believe it when I see it. I also don't know whether I care. If last year's push for top line was anything to go by gaining a deal last year might have been a bad thing - short term gain only. I am firmly of the view, and have been for some time, that the longer deals like these take the stronger position we are in and the less likely we are to make a deal that might bring dollars in immediately but not be good for us in the longer run. At risk of being modded I can tell you that I challenged the business a number of times about the problems I saw throughout last year.

So put simply - we have to pay the price for last year's headlong rush to sales. I don't think that's a bad thing. I also think we should feel pleased that the pace and style has shifted. It is timely. It is the right thing to do and it reassuring. This way we can get the house fully in order and be well positioned to capitalise on the interest there clearly is in our chemistry

Good on Nick for having realised that it was time for a new era. And congratulations to Dirk for positioning us to be ready.

Parsifal