I agree with both of you.
First of all, cool heads always prevail.
Step back and just think what we've got here.
Sentry is still clearly on the table.
Portal - Looks to be rolling out to accelerate growth which is a very smart move.
NAB - No idea to be honest. My guess is that they are continuing trials and most of the company still don't know about us. Banks are just that slow.
Whoever this other company was - Genuinely couldn't say. It smacks of somebody trying to muscle in and grab a share of the company to roll out the services for cheap.
Big Financial services companies/banks are notorious for screwing you on the deal.
They think they're the big swinging *icks so can push whoever around.
Most of them are just dorks in suits who aren't actually very smart. Man I hate bankers.
The company I work for was recently presenting to Goldman in New York to implement our risk software so they could use it to trade.
They pretty much told us they were going to pay basically nothing and then use their pHd math employees to reverse engineer the whole thing.
We walked away from that deal but still remain in contact if they want our services but not our software. This is how banks do things. They are top dogs for a reason.
My feeling is that whoever this was they were talking to must have been big.
It's only the big boys who make deals turn so sour so quickly because they can afford to out-wait.
They likely wanted a share of the company as well as a ridiculously lower than negotiated deal.
Have seen it before.
They'll either be back because they know they need it or they'll hang in the background and offer to buy when the opportunity presents itself.
All speculation. However, it does indeed read like this from my perspective given we were looking to enter into a legally binding agreement before any sort of trial has been announced/given.
Having said all of this, can we please just sign some bloody clients up already.
The amount of coffee I'm drinking these days is terrible for my heart.
I don't also need this malarky of promising deals through trading halts, only to fully prank me and pretty much say "just kidding mate".
In terms of the market being bruised, I agree again.
You can't keep messing with investors. It makes for a volatile stock.
When you've stated that you want to build a business for generations, then you need to be so vigilant that it's painful.
I have no doubt that everything has been done with best intentions but 2 announcements in a row that have been major negatives from what should have been very positive is killing my paper value.
Investors don't forget. It can mean that they are likely to sell on good news instead of hold and wait for more good news.
What we need is fast paced growth. This fixes everything.
Management know this all too well. Their reward depends on it.
We could also use some explanations in regards to all (2) of the cock ups in announcements.
I'm sure the company is going fine regardless of the way that the announcements were handled but us as shareholder had to wear the embarrassment in losses to our portfolios.
It hurt extra bad given how positive things should have been.
My sentiment is unchanged because as a business, I believe IAM has so many positives that are outweighing the negatives. There will be a time in the future that gives reward to those who held through these tough times.
Management would do well to stop throwing these tough times our way though.
Having party pies at the roadshow would be a start.
IAM Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
(20min delay)