Ann: Quarterly Activities Report and Appendix 4C, page-165

For me TK has been pretty truthful and understated over the years (in contrast to some other stocks which are only ever a story). He has now put his proverbial on the line stating he looks forward to updating the market re-Europe in the coming months (note: he is happy with their progress). Breaking his word here is my trigger point. I can handle setbacks (RAP are trail blazing and it's difficult to build new value networks and truly be disruptive). It's a totally different story telling porky pies and selling false dreams. I will not tolerate it.

Disclosing non-usage of dx could have been better handled. I don't think they have broken rules as no guidance was ever given - just notification of integration. I would advise RAP to release monthly download/usage figures to ensure lower volatility in the share price and manage expectations better. If this means a lower share price so be it, I'd rather any run up in the share price be sustainable anyway.