Ann: Results of Meeting, page-68

That’s a very interesting discussion point. If Capricorn are considering buying it in total then I assume they would make it an in house application. I think from my discussions with a Carpet Call director what Spenda have put together does in fact work. The problem they have is, does it scale? On the current run rate where wages are twice revenue the signs that it does are not promising.
So as to price? The issue will be with AF is milking so much from the business, why would he sell? I just can’t see Capricorn paying a price that would make the Goat give up his rivers of gold. I believe a good result would be Capricorn buying a 20% stake which allows them to put an adult director on board which would in turn benefit all shareholders.