Ann: Recording of Investor Call Available, page-28

I’m basically with you on your exit plan, Solarpat.

There’s been a run of negative news from late last year through this year overseen by a board and management that has effected a rout in the share price of this tech company at a time when the market overall is favourably disposed to tech companies.

The rout in the SP has seen 80% of value wiped off in about 9 months.

Board and management have overseen the market capitalisation of CM8 fall by 80% in less than a year, a telling sign of their foresight, competency and respect for the owners of the company, many of whom are ordinary retail shareholders.

That Carosa could offload a million dollars worth of stock to instos in the early stages of this rout surely earns him separate nominations in the Bridge Burning and Chutzpah awards for fiscal 2017-18.

As for long suffering shareholders, we’ll likely add another few names to that long list of Directors of Australian Companies To Not Touch With a Bargepole. (Get the Amsterdam joke on shareholders?)

Yet, CM8 retains some value, some of which we’ll see in the annual accounts. Obviously the massive headline loss will be the standout, but at least we know this is coming.

Despite the substantial investment in the digital influencer space as opposed to management focussing on debt reduction or tweaking existing business streams, it appears digital influencing is little more than a masturbation. (There is a popular 4-letter word for this that HC posting guidelines prevent me from using.)

Cryptocurrencies, sure, sure, sure. Really?

We’re told the payments system with links to many telcos has value, while the Q&A division could yet show pleasing growth in demand and revenue.

Overall, the underlying yearly figures - the actual metrics of the operation - mightn’t be too bad. Who knows, we might even see the previously critical net debt finally disappear. (Remember the debt cap raising last year.)

As with Solarpat, were this to generate a mini SP rally and cut my losses, i’d Be Out.

A useful guide could be the issue date of the annual accounts. The earlier in August these are issued suggests to me the directors have something to crow about. If released On the deadline for annual accounts during the usual deluge of dodgy figures on Aug. 31, then this would suggest CM8 has nothing to crow about.

Why delay , the market capitalisation of CM8 now is only A$11 million - close to not even being worth buying.