Ann: Spirit secures $5million investment in Convertible Notes, page-13

Yes, it’s not all beer and skittles. As well as the point you astutely spotted (which I hadn’t read of before) TNT clearly had issues with sourcing skilled staff, and paid hugely to get them.

Still, cyber protection is a strongly growing industry. Awareness of the need for cyber protection has spiked in recent years, and it seems to have changed status from “low priority” in management eyes to “needs to be addressed”. Demand for expert assistance should follow naturally (which seems to be occurring). There aren’t too many quality cyber protection service providers in Australia. If Spirit can get itself established in this field, it could be company transforming. And Julian has the background to achieve this. I’m not saying it’s going to be easy, we’re still trying to mount the train on the rails. Cyber isn’t even currently the main part of the business! But I do see potential for significantly better results if they can get the strategy right and execute it.