Like many here, I'm into this company substantially, but I'd...

Like many here, I'm into this company substantially, but I'd like to propose that maybe there's an alternative story amongst all the possible doom and gloom.

Yes, access to/ location of the funds has disappeared, but I assume the board or anyone cannot comment because one would assume if there's fraud involved, it's a criminal matter. Secondly, I assume that there are other investigators involved as well. If it involves banks, insurance, et cetera, you would have to be very careful about what accusations were made and commentary on what funds can be retrieved. And the board themselves maybe under investigation.

If there is a capital raise, the prospectus would have to be prepared. In doing so, the financials would have to be analysed and signed off, which would take time. Any major investor would have their own team analysing them in detail as well and asking a lot of questions.

Yes, McGovern looks like an absolute spiv, controlling, narcissistic spiv and at this stage involved in what for all intensive purposes looked like fraud, and I assume that they have to investigate whether anyone else is involved.

That aside, though, the company's financials looked good. Whilst most of us, including brokers and possibly even board members, fell for McGovern's spin and all the rest of it, the software is embedded in major telecommunication companies worldwide who would not fall for the spin of every salesperson trying to sell a similar product . These products undergo extreme vetting to cut out the sales BS before they're implemented on any platform. I remember I had that discussion with one of their engineers at their Melbourne showing, and that's what gave me confidence, as he said to me. "We are embedded into the system. To be embedded and a vendor for these telecommunications is one of the most rigorous processes. Any AI, etc, adds on us are given to come via us." So if we look at it that way, the software they're selling works. It's embedded, it's being billed for, and it's creating revenue. and no client has left the platform

With McGovern out of the way now, forensic analysis of the financials, and a new management structure in place, perhaps then they can realise that potential because as much as McGovern might have been the used car salesperson, he was the person who was holding them back from realising their full potential as indicated by Glassdoor reviews. He loses all his holdings and, if fraud, will go to jail.

I think our best-case scenario is that there is a capital raise, an injection of funds to say that it's stable, the financials have been analysed in detail, and any management and board members or anything associated with this stench or other kickbacks are cut. Whether they can recover the money or not will take some time, I imagine. However, the point is that the product is currently embedded in some of the major telecommunications companies around the world, and they just turn it off. This is not a chain of stores that shuts overnight

And to me, it seems exciting that if they're billing those numbers with such a lunatic in charge, how much potential is there to take it to the next level with proper management and cutting all the fat out? Think Elon at Twitter, 80% cut. Could probably cut $26 million of unnecessary overheads out over time !

Perhaps I'm taking the rosy view, but I don't think we can expect the board to come out and mention anything at the moment because lawyers/police would advise them that they can't. And what exactly could they come out and say except we are investigating or perhaps even being investigated themselves?