Ann: Webinar Presentation, page-12

The path forward has been identified several times now and through several machinations or combinations, it just has never been achieved or come close to being achieved in the timeframes offered up.

For mine the questions I would like to see answered revolve more around reflection and acknowledgement of past failings in the delivery space and clear communication on the lessons learnt from this and what the company will be doing in the future to make changes to effectively start under promising and over delivering as the clearly approach taken over the past 3 years has simply not delivered value to holders and significant partners, but I think we are going to get another here is the wonderful next thing we are delivering or the next big deal that are working through (which we won't - again).

Latest example(s) just to keep it current and not list failings from years ago would be - at the 1/2 way mark of target ~100 Swift Statement subscribers out of a 15 000 subscriber target. Lets reflect, is that where we expected to be at this point in time? How far off the mark of where we thought we be at this point are we? Why are we that far off the mark? What pressures did we and Capricorn not forsee? What can be done to address these? How will we measure that corrective actions are effective? (and not just the number of subscribers has increased, they'd had 6 months to work that one out).
And another example would the around 4mill paid to cover loans not picked up by Grapple but no communication around this provided to holders or the market at the time of the Grapple announcement or detailed enough in the Activities report to work out in the activities reporting. All we got was a line item in the financials and a noticeable drop in cash at bank.

The path to hell is paved with a 1000 good intentions, and the good intentions have well and true run out for the management team, in my opinion. It is time to stop deliberately leaving out critical information from announcements and reporting and glossing over things and start explaining where we are actually at if the company wants to be taken seriously by the market, again in my opinion.

Why things are in that position and what is being done to resolve issues in a clear and mature way or the market will continue to simply not believe for a very long time no matter what gets achieved because for every record quarterly there in enviably a fall in projected revenues the next quarter and to date the broad brush statements made to justify the reasoning does not and has not passed the market assessment of where SPX is at as a company.

What are the current revenues from LimePay each quarter? What is ROI on FSCO and how is this tracked? Where is e-Bev actually at? What is role of SPX India and what are they actually working on versus the Perth Team? What is being done to address the simple fact for every $1 in we continue to spend at least $3 to achieve it? 3 years on none of these are pretty fundamental questions have been answered to the level required to have any hope of gaining back some respect from the market in my opinion.

Big things may well be coming, but unless the reporting is open and honest, I do not believe holders will see any value from this for at least 3 consecutive quarters because every time there is good metric, the next quarter that metric seems to slip back.