Conceptually Spenda has legs and if they can penetrate the market and drive uptake on the system then we are off to the races.....
My sense is at present the story has outrun the actual revenue growth which is a mis-managment of expectations. Adrian projects as genuine fella and his pedigree suggests he's strong in this space however his presentation style needs sharpening and the "yacht comment" was reckless....
We need to see the revenue growth start to live up to the hype or alternatively cut down on the hype and continue to show reasonable Q on Q growth as they have been.
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-402
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