Ann: Quarterly Activity Report and Appendix 4C, page-26

"Even if CBA sign what does everyone think the agreement will look like?"

Yes, I'm intrigued by this too. I got rather shouted down when I suggested there may not be a 'material agreement' as such, or a 'dotted line' upon which to sign. I wonder whether work will be sent to Intiger on a more ad hoc basis, and thus the amount of work showing in cash receipts at the quarterlies?

The longer I hold Intiger, the more I reckon that, if success is realised, it'll probably be a long drawn out thing. Just because Intiger is a speccy, it isn't a mining company and it won't strike gold overnight and experience a rocketing share price. Perhaps success will take the form of a slow, gradual accumulation of practices as the culture amongst financial advisors is slowly changed to the use of BOOM? Perhaps success won't be immediately gratifying for the hungry disillusioned masses on Hot Copper, but slowly reflected in increased cash receipts? The power of cumulative acquisition in line with cultural shifts can be immense. Look at realestate.com. (It was once worth 7 cents, then it reached over 75 dollars).

In watching the Peake Practice interview, PC and MF acknowledged the slowness of cultural change, and implied through knowing glances and grimaces that this could be the rate determining step in Intiger achieving success.

Trust me, I'm angry and frustrated by the years of over promising and under delivering, but I'm also keen to not react in a silly way, and I'm not going to hang Intiger for double jeopardy. I need to adjust my investing decisions accordingly. I gotta be ok with delays.

I still refuse to believe that Intiger isn't poised for success. The company looks ready to lauch. 70 employees for a software company? Do me a favour.

But, another annoying terrible 4c and a stupid excuse about the Royal Commission being to blame for terrible receipts! I would agree that another cash raise looks increasingly likely. Surely the next quarterly will show a significant improvement?

Thoughts?

WB