Just looking at the Cambridge Cognition results now, they look...

Just looking at the Cambridge Cognition results now, they look very decent. Clearly there is plenty of growth available for both them and us. The industry is growing fast and these are the only two companies with goto proven digital solutions. Where I do envy Cambridge Cognition is on their cost base, it is nice and low and frankly puts us to shame.

When we get the full year results I think it is really really important that management give a decent profit forecast. We have too many years now of management hedging their bets with talks about uncertainties. It is time for a proper profit forecast and a proper set of KPIs which shareholders can follow.

One of my bugbears with the company is that they pay full cash wages and bonuses and give options like a start up. In my view it should be either or and not both. We have the cash now so lets stop with the bonus confetti bonanza and lets set some proper vesting criteria. The new hires are not taking much risk in joining, it is not like a few years ago, so why are they getting large option allocations with soft vesting criteria ? This is a point that I hope Australian Ethical would be making to management and if necessary with the weight of their votes.