I agree that digital will prevail ... but not for a long time as...

I agree that digital will prevail ... but not for a long time as the infrastructure in India is just not there in terms of reliable internet, electricity, etc. In the interim (20 years or so is my guess) the opportunities to consolidate the ATM market are huge - also, remember the current TSI platform can service 50,000 ATMs - currently approx. 14,000 are in operation and our revenue is circa A$50m.

This volume and the relationships then provide the backbone for the expansion in to other areas as highlighted very well in the presso posted on the TSN website yesterday (http://tsnltd.com.au/wp-content/uploads/2017/05/TSI-India-Payments-Business-2.pdf).

Based on this presso there is a lot TSI are working on ... I also contacted Jeff yesterday who confirmed this is right up to date so the current opportunities and discussions are accurate.

I also note the reference to MPOS on that presso as in progress (page 6) ...... I wonder if that involves Novatti? I am also very interested to know if discussions with SREI are resuming now that normality has returned. Also the reference to switching & processing is good to see ... Gary has said this is a priority for a while so it is good to see this is still being highlighted.

All this is very encouraging and the only real issue for me is the financing of this and the acquisition (assuming this is the plan). This is where we need cyber to provide share price growth which I believe it will if we can get a big contract win or 2 and maybe another strategic acquisition to complement the current business. It would also be great to hear that TSI is cashflow positive as this will provide the means to finance growth of the TSI business if the TSN business is focused on financing/repaying the TSI acquisition for a while.

Anyway, just some thoughts of mine to start the day and to provide food for discussion while we wait on the next announcement ... C'mon Jeff!

MartyW