Share price in the last 16 months since the release of their last annual report, has gone from 5.3 cents to 2.5 cents.
It has been a steady decline back to basement levels.
It would surprise if the Australian revenue provided growth of any consequence. It would seem they have reached or are reaching the peak of the sales marketing cycle to the smaller business market.
Business conditions, competition and increasing costs of maintaining and servicing the customer existing customer base is having its effect. Whether they can attract the larger customer remains to be seen.
Spectrum and Riyo are in their infancy. They will be soaking up funds whilst trying to get market traction. Spectrum was a 2 star Netsuite service provider with a small customer base. Riyo will take 2 to 3 years to find any meaningful revenue.
I predict a grim year ahead in terms of the share price.
2 to 3 years would be best estimate for share price growth to improve, provided Riyo and Spectrum demonstrate meaningful numbers and JCurve demonstrates that it can obtain additional IP acquisitions to enhance the value of the company.
Happy to be proven wrong!
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