I have been amazed at the amount of negativity from a number of "investors". To raise $5 million at a small discount in such a short timeframe is an amazing achievement. There are obvious plans for future growth. The delay of the Tata Communications SDX from 2nd quarter has been a financial setback, yet plans for the US and Indian markets have strengthened. As there is a cost of user acquisition associated with Freeway, every 1 million users has a minimum cost of approximately $130,000 AUD in India.
If there was no capital raising there are still funds available for organic growth in current markets, but an extra $5 million allows multiple new markets to be expanded into at the same time.
Sales and customer support team will need to be expanded for Dataflex and OTT. Possible move from Adroit based contract developers to US based devs for a more sustainable business model.
This raise was 54% above the initial RTO capital raising. Very respectable growth in 6 months with exciting opportunities ahead.
SYT Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
