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“This was a SaaS company that was going to revolutionise...

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25/06/24

13:11

Post #: 74478329
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Originally posted by Abdubul: ↑

To be fair - all a new investor would have to do would be to compare every single 4C to the overly optimistic predictions consistently peddled by management to be deterred from further engagement. The company does not have a clear strategic plan, it just lurches from idea to idea, each one more poorly executed than the next.

This was a SaaS company that was going to revolutionise invoicing. Then it was going to provide millions of dollars worth of factoring to agribusiness. Then it was going to be the saviour of food security via blockchain. Next it was in the on line farm equipment auction business. I think the latest idea is to run EFTPOS terminals. No one really knows because no one seems to be able to explain what this company does. Certainly not the CEO. They haven’t made the building tall enough to give us time to hear his elevator pitch.

What gets said here is of no consequence in comparison.

Regardless, it won’t take much investigation of these threads to see that the bears here talk data, facts, numbers and financials while the bulls talk speculatively about partnerships and deals and situations that never seem to come to fruition.

Some of the more entertaining ones over the journey:

”We’ll be cashflow positive next quarter” (said every quarter)

”Revenue is profit obviously”

”We’re growing at a record rate” (while posting record losses)

”There’s a big announcement coming, it’s just being spellchecked”. Still waiting for that announcement by the way.

SPX has also been compared favourably to Mastercard, GrainCorp, CBA, BHP, Google and Apple by the blind optimists here.

All of this is very telling. New investors will make up their own minds. If you’ve stuck it out this far I certainly don't blame you for continuing to hold. Good luck!

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“This was a SaaS company that was going to revolutionise invoicing”

AF has revolutionized invoicing. Who knows how many invoices he has sent to Spenda from himself and associates for “work done” in India and other places. The company them pays him.
It all works nicely, just won’t help shareholders.

SPX Price at posting: 0.6¢ Sentiment: Sell Disclosure: Not Held
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