Ok. First thing - really good that they have confirmed actual...

Ok. First thing - really good that they have confirmed actual numbers better than the guidance. Everyone should be pleased about that.

I just read the Operational Review very closely. No-one else seems to have given a comprehensive opinion on what it all means so, notwithstanding my previously acknowledged lack of any technical expertise, as a long term holder, I will start the ball rolling.

Here are the bits I highlighted:
- significant and growing market opportunities (yes, there have been for a long time)
- looking to achieve break-even whilst maintaining growth in 2021 (I recall break-even was being predicted about 3 years ago so not convinced it will happen in 2021)
- partners have BEGUN including the VSN in their products, sales strategies and value proposition (I thought China Telecom started doing that 18 months ago with 10,000 salespeople and that just doesn't get mentioned these days - will have to wait and see if this goes differently)
- partnering with LNS is attracting interest from multi-nationals and Government organisations in numerous countries (there has always been plenty of interest. Sales has been the issue. Not sure how much of the $16.6m is "sales")
- The Group continues to WORK on strategies to solve the balance sheet problem and is continuing engagement with large corporates - (sounds like a lot of work to be done here! This business has been "engaging" for over 5 years - Telstra, Bluetech, Rhipe, Whitehorse, China Telecom....... )
- ASEAN - the first phase of the partnership with LNS is to focus on ASEAN countries. LNS has committed to providing a dedicated sales force (work in progress obviously), and are participating in tenders exceeding $600m (even though there are balance sheet issues?)
- REST of WORLD - "exploring client opportunities" (I remember way back when they were joining the IBM Market Place in 11/2016 in Europe, so "exploring new opportunities is not a new thing. Here's hoping some of the current exploring actually turns into dollars in the bank).
- Natsoft continues to develop opportunities (yep, more interested in converted opportunities)
- Proof-of-concepts happening all over the place (hopefully they go better than all the "pilots" that were happening and then just magically disappeared e.g. DI Advisory Services, ONYX - never to be heard of again?)
- VSN Product Update - Now seeing increasing interest in the VSN across ASEAN and other geographical markets following Solar Winds attack (that's good)
- Actively involved in design and discussions with blah blah..... (yep)

Yes, someone will say I'm being pessimistic. Maybe I am. My summary is that apart from the fabulous $16.6m income, the rest of it we have heard before, on many occasions.

I will toss another gold coin in that very full jar and predict that break-even won't happen until mid-late 2022, the SP won't go above 10 cents in 2021 and Collingwood won't win the flag this year.

Monday trading will be interesting - up? or down? - that is the question.

Have a good weekend. Go SCORCHERS!