Ann: Notice of change in substantial shareholding, page-4

Thanks @stocking,

Having seen the laborious and soul-destroying job of core logging first-hand, and having spoken to umpteen geologists who've complained bitterly about how soul destroying it is, I've always wondered when some AI product would come along and simplify (and cheapen) the process.

So this business looks somewhat interesting that light.

So I read the prospectus, and about the unusual way this company was born into the listed world. In that regard the obvious question to arise in my mind why didn't Swick take it to the next logical level, namely full commercialisation? It would have been worth a lot more then.

Also, I'm doubtful about the scale-ability of the business model.

Yes, its a "technology" stock, but the service offering requires rather large and discrete physical units to be deployed in order to deliver the tech.

And then we also need to have a crew of in-house consultants/geologists on hand to help interpret the data being generated.

There's elements of capital- and labour-intensity here that I don't see with other tech plays.

So, I dunno so much.

Yeah, its only a $10m company (with $8m in cash in the bank today, but its burning that up at a rate of close to $1.5m per quarter), so its not priced for any success at all, but I really don't have any real feel for what the business can look like in 2 or 3 years' time and, importantly, if it is adequately funded to get there.

I'm happy to have lash at tiddlers from time to time, but I don't want to feel like I'm shooting craps, which is the way I feel with this one.

If it does end up making it, its going to be a multi-hundred million dollar business, but I think I've got time to watch it evolve, even it means I miss out on the $10m to $50m re-valuation leg. But with execution having been demonstrated to a degree, I'd be happy to catch the $50m to $500m leg.

So thanks for alerting me to it, but I'm going to have to say its just too early for my delicate investing constitution.

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