Yes the SPP was a positive narrative given where we are, but ultimately that is now in the rear view mirror
What is going to be critical for this company (now that they have sufficient cash from institutions and retail investors) is:
- delivering on their guidance for FY24 (at a minimum)
- get something material out of that telstra contract (else another 11+ months with little to show)
- deliver on their 3 year forecast which is a significant way from where we are at 1H24 (revenues, profitability, margins, cashflow)
I like Mal and he seems hugely motivated and enthusiastic about their growth, but also he did not take up any shares in the SPP........ultimately what is missing in everything over the last 2-3 years is execution and that needs to change else a $36m market cap seems a lot for a company that continues to have losses and negative cashflow
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