Ann: Strategic Acquisition and Capital Raising Presentation, page-10

Customer numbers are not the primary object here. With payroll services it's all about the number of payslips and that bit concerns me in the presentation where it states that payslips increase by only 7%. That indicates smaller clients as a whole. More smaller clients induces higher support costs. $15mill on a $50mill marketcap company is quite a dilution. Will be interesting to see how this plays out. I only bought in Feb. Wish I had held off as I'm not convinced.