I have a fair chunk of my portfolio in cr8 lured primarily because cr8's market window which I think is huge. However, the qrtly, my conversation with Michael, the recent video linked and any other document I can find, has not been anything but awe inspiring. A couple of points.
1. It bothers me when the CEO declares she is an 'entrepreneur'. Sounds impressive but results are what matters IMO. CR8 needs a CEO and not someone on an adventure.
2. Nationwide have been on the radar for 12 months and not a cent of revenue to be crystallised. Moreover, no guidance on what might be crystallised. That says (a) cr8's revenue model is not clear; and/or (b) conversion process is slow which bodes well for rivals. Somebody needs to close out deals.
3. Nationwide are on a 'transition' discovery process. In his own words, 90% + of opportunities explored don't see the light of day.
4. Supposedly there is another fortune100 company on the radar. Given the nationwide experience (ie non revenue producing protracted engagement process) , who cares?
5. CR8 is filling up with boffins ... Universities are already full of them.
I am concerned that there is an awful lot of spin and not a lot of substance behind cr8 publications. I'm still trying to work out if and when that might change. Even another fortune100 name is likely to be absorb without a blink.
Until then my sense is that cr8's price will sink.
Time will tell.
Have a great day
CR8 Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held
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