Ann: Trading halt, page-266

Ok it's time to settle this once and for all. You put some doubt in my mind last week and as a direct result of that I stopped myself from topping up more CRO options, which have pretty much doubled in price since then. Clearly what I should have done in the first place was talk to someone who was actually in the know, which I did end up doing.

Motopia acquired Cirralto (formerly Appstablishment business services) for its cloud based accounting software. At the time they had Telstra as a customer and were migrating them over, which was a huge task and was the majority of their revenue and workload. After the acquisition Motopia became Cirralto and they needed to raise a significant amount of money to enhance the software (to make migration easier and faster) and to expand. Those were different times back then and money wasn't just being thrown around like it is now. On top of that Telstra began restructuring and cost cutting and the relationship deteriorated. The company has done whatever it takes to survive since then and luckily for us has managed to get to where we are now.

The Spenda line of products have been in development for years and Appstablishment has been developing them purely for Cirralto. We license the software from them. To become a true powerhouse we need the acquisition to go through so that we own the software and the experts who developed it for Appstablishment can come across to Cirralto and we can run everything in-house! This will create synergies, reduce costs and allow us to power ahead.

This time there are no funding issues! The company has more money than it ever has before, and after Monday will be well and truly cashed up! This raise will be a game changer for Cirralto. Marketing, expansion, onboarding etc all cost money and imagine a company that has big chunk of cash in the bank and increasing amounts of revenue coming in! This will absolutely PUMP!!!