Ann: Notification of Quarterly Results & Investor, Revised, page-7

you don't need to attend
all the info is in the announcement released on the ASX

I can summarise it for you - it goes like this - a dick by the name of "two dags" and a few sheepish mates decided to spill the board claiming only the board would be impacted. a number of gullible shareholders followed suit

now 12 months later we have a new board and new management and an organisation restructure

the ceo and board need to appoint a new mkting mgr because they sacked the last lot and new ones going to take 6 months to come up to speed and he wants to reorganise the sales force so another 6 months before they're effective 

everyone is buying time - there's $30 million in the bank and they want a low base for bonus KPIs

sales growth is tanking and unlikely to get better until the company settles itself down and those bonus KPIs are in place

remember this is a company with a unique product - the only one in the mkt ! a monopoly !

so we're looking at another 12 months before we see any real results and improvement in revenues

the new CEO announced last qtr over 300 opportunities - and new leads are up 50% this qtr
but sales of units is down ! figure that out ?

so our hard earned cash invested in this company is being spent on redundancies and staff costs producing limited sales growth for a product that has a monopoly and shoukd be a no brainer to sell !

share price was 20 cents 12 months ago before the spill and now struggling to get over 9 cents !

sad isn't it
the mkt says it all

two dags is back out with the sheep where he belongs in tge paddock feeling happy he's settled the score with the previous board and management and you won't hear much from him until sales get better which won't be for another 12 months

so all pretty much as myself and others said all along - nothing like "I told you so"

The spill has put the company back 12-18 months - now I'd say probably 24 months as the new lot stamp their mark on the company with little concern for shareholders - and sales stagnate

and don't forget the new accounting treatment for sales revenue produced a small gain in reported revenues - Whoopty Doo - value adding! not!

but don't worry there's $30 million in cash to burn before they have any real concerns and need to look for jobs elsewhere - they will always tell you it's for the "longer term good" and things will be better in the future - which just slips further and further away

a very special thanks to "two dags" and his sheepy friends for the destruction of shareholder wealth and this crazy ongoing situation - with hindsite would you have supported them ?