Ann: Update on Sale of IDSB, page-55

There’s been a lot of noise on here today, and while healthy skepticism is fair, let’s keep it grounded in reality.

Ovanti has just announced the sale of 15.75% of IDSB for ~AUD $10.8 million. That’s confirmed in the ASX release. They’ve retained 5.25%, currently worth around $3.6 million based on the deal terms. That’s not a company “selling the farm” that’s smart capital management and strategic positioning.

The ASIC talk is pure speculation and completely baseless. If there were any investigation or material issues, it would be disclosed immediately under continuous disclosure obligations. None of that has happened. So unless someone has actual evidence, let’s not throw around serious accusations just to stir fear.

There’s a CEO search underway and yes, the company could have communicated more clearly on that. But let’s not lose sight of the fact that $10.8M in this market is no small feat, and it gives Ovanti options. The money isn’t for “keeping the lights on” it’s to fuel the next phase of growth.

Plenty of companies are all talk.


This is the first step in backing up words with action. Now we watch for execution.