I think there may be some new holders on the back of Motley Fool...

I think there may be some new holders on the back of Motley Fool or elsewhere.
I’m a strong believer in CV1, so let me take the opportunity to share why I think this is a dramatically undervalued stock, and why the market is missing a golden opportunity.

CVCheck listed as one of the first places you could get a police check online. People need this more and more, and it used to be a hassled to fill out a paper form, visit the station, wait for the overworked cop to get around to it, then go back and collect a bit of paper.

No surprise doing it online was popular.
CV1 smashed up after listing as revenue popped up as the new convenience became known, over 50c, top around 80c. As others also turned on the function to buy online growth didn’t keep the same rate, and the share price stalled and crashed.

The ex-MD of CV1 laid out a bigger strategy. Keeping the police check market, they would add dozens of more background searches - credit checks, international criminal history, corporate disqualifications, whatever and wherever they could find stuff they would add to a package not sold to the individual punter, but sold to HR departments and big corporates as they hired people.
Tick the box here and for a fee we will tell you about any concerns about your prospective employees background.

By a bit of fortuity, this happened at the same time requirements from government and big business to make their suppliers take more responsibility started to take shape.
In my day job I am fulfilling requirements for big procurement contracts. About 5 years ago, government and Fortune 500 companies started insisting in their contracts that all supplier staff working on them have police clearances. It will take 10 years for this to flow through to every contract, as old ones gradually expire - but underpinning solid growth along the way.

That convinced me to invest in CV1, initially at 20c a share! I bought quite a bit more when they were cheaper.

Since then, a couple of things have happened that have substantially added to the value of the business.
The approach has become all about signing up additional businesses to screen their new employees on hire. This is a tremendous approach, as the cost of sale is fairly small, but once an employer is using the service, they are close to locked in. No competitor can be meaningfully cheaper, as the per transaction cost is small. And the hassle of change is likely in excess of what a few years of cheaper fees might add up to. It is figuratively a gold rush, as whoever signes each employer gets an annuity income.

There are circa 30,000 businesses in Australia who are likely worth chasing like this. CV1 has less than 1000. Nobody is as focussed on this opportunity. It is an open field to make annuity income. Very valuable.

That part is already delivering seriously good income, but the unknown upside is the API business. An API is a computer to computer interface to ask for information.

In CV1 case, it is when an employment agency, or contracting firm, or other organisation that has to request many, many background checks gets involved. For example, a contract workforce company like Programmed might win a new sub-contractor arrangement with a head contractor like Multiplex. (Note, these are examples, nit necessarily customers, I don’t know).
Multiplex need cleaners at 60 office towers, and let the contract to Programmed. Programmed have to check every staff member they have who might be rostered to a Multiplex building for the background checks Multiplex specifies. Rather than checking all there 8000 contractors, they do it on the fly- their computer asks for a check when the roster is released.

This is good. Where it get as great is when US, EU, UK operators need the same. CV1 is the best placed to do this for Australia and New Zealand.

As an investor, my view is every week the business grows in value as the network effects build it stronger and stronger.
And as the leader in AU/NZ it becomes an obvious and necessary buy out target for northern hemisphere operators seeking to go global.

So for TLR underlying strong growth every year baked in to the landscape. A gold rush opportunity where they are leading to tie in customers who will never be motivated to leave. And corporate action as deep pocketed international operators seek to buy into this market for completeness.

This is my largest holding, and will fund my early retirement.