Interest rates are a double edged sword and with $25M in the bank they are very well positioned to act on acquisition opportunities whilst getting a return on the cash. Wage and salary inflation is a cost line they will have to deal with but with average price increases of their software between 10 and 300% this is well covered. Mike made the point the time of conversion of the pipeline has not changed, it's the volume in the pipeline that has increased significantly - more tenders both small, medium and large. This was always going to happen with the quality of the Sales and Marketing team leaders that come on board in the 2nd half of last year. In respect of the technicals the chart has made higher lows over the last couple of months, with a 45 cent low on the 23rd of June and a 63 cent low on the 23rd of August - a 40% increase. I'm seeing the chart maybe being tested for support between 61 and 63 cents and building from there but that won't stop me from buying now.
M7T Price at posting:
66.5¢ Sentiment: Buy Disclosure: Held
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