What's interesting is that the ALA directors are also the...

What's interesting is that the ALA directors are also the executive directors of the facilitator GTT Ventures. You can see this here: http://www.gttventures.com.au/#ourteam

Also concerning are TSP's revenue figures on page 45 of the bidder's statement. Some revenue lines declined from 180.5K in 2014 to 94K in 2015... maybe that's why revenue figures are usually avoided in announcements? Their main revenue line last year was a $1.2 million government R&D grant... and even with the government's support TSP managed a $6 million loss in 2015, which is a loss of $500K per month!!!
In my opinion, given the monthly losses, in order for the company to be a going concern all revenue lines should have very high month-to-month growth.

If "average of 75% of placements are repeat business" I would expect for growth to be much larger. In Australia alone the monthly job ad and payroll statistics show that there are 10,000+ jobs filled per month and well over 100,000 job advertisements. TSP placing around 20 jobs in Australia in the last quarter is a drop in the ocean, especially if you think about the 6x faster speed to placement claim. It would be interesting to find out what percentage of their customers (not placements) are their repeat customers.

I could be wrong however in my opinion the management is cherry picking the non-revenue numbers.