For those of us who eventually rejoice at the success of our investment in ISX, as I feel sure we will, there will be two standout events to reflect on.
The first of course was the placement in November 2015 which raised 10.45 million. These funds in retrospect have been crucial to the prolonged development stage of the company, which is still to earn any significant revenue
While the placement was fortuitous for the shareholders, it was a bold move by the two instos who would be currently showing a 60% loss on their investment. Hopefully, if they have remained faithful, they will get their reward.
The second event was the courageous move by XM.com in committing to the ISX platform, not because of the technology as this had been tested and proven, but courageous because of the dependence for ongoing support by a small ASX Listed Company whose market cap had diminished by 50% in the past 12 months.
It is not as if we are selling Disallowed to an unsuspecting public. Our customers are highly sophisticated participants in the world of finance who would be well aware of the potential danger of committing to a disruptive technology entirely dependent on the continuing support of a vendor which currently lacks the financial muscle to ensure its survival.
Full marks to John and his team who appear to have overcome these obstacles and have managed to position a small ozzie company to become a major player on the world stage.
ISX Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
