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29.0¢ getswift limited

Glass half full vs Glass half empty, page-194

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Psalty

3,286 Posts.

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20/02/18

16:53

Post #: 31196374
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Originally posted by U3962521 ↑

I think the risk of class action is now very real and shouldn't be ignored as you look at the risk the company has hanging over it.
Joel has openly admitted they should have disclosed some contracts. And while they have given full disclosure now they definitely were not before. I wouldn't blame anyone wanting to be represented in a class action.

Not being a neg nelly but we shouldn't disregard that most of us holders were expecting updates on major deals, yum, Amazon, naw, cba: but none have came yet: that's a major red flag for me.
Take Yum as an example: pizza hut australia use us. They specifically mentioned in the global yum agreement that they'd be first rolling out in the middle East and Pacific. My guess is they haven't signed a global agreement at all but just a few regions. The news about yum and grubhub raised alarm bells for me.

My take is getswift may be a very good fit to companies who already have a fleet of delivery vehicles of their own but don't have the tracking or the GPS or the analytics of deliveries. Like a caesers or pizza hut we know they have delivery drivers and aren't relying on a diliveroo or similar. But we should all be asking if gsw going to be used for yum in the US and how it fits with grub hub who clearly outlined in their announcement with yum they will offer last mile delivery.
Na williams have their own distribution trucks I believe so gsw could be a great fit.

I see diliveroo everywhere in Australia. I don't see getswift. I get that getswift is likely mire focused on white labelled last mile delivery solutions and that's one if their strengths to maintain a customers brand.

Onto amazon; we have no idea what this contract is. How long a pilot will run. Which part of amazon will be using it. What is a MS agreement? Why have getswift given no timeline indication of implementation for Amazon? If getswift is for amazon flex, to integrate with Amazon's existing efforts to set up their own delivery processes then getswift could be a great piece of the puzzle to the getswift ecosystem.

We know getswift management also do not deliver on their original time frames. With cba it was meant to be all delivered by 2017. Pilot is still ongoing and taking a guess it'll be at least another 6 months before any revenues from cba deal. Using same logic is na williams not a 15-19 month rollout out but a 36 month rollout? Management have been taking its shareholders for fools by over promising and under delivering.

Growth: for such a small saas start up the 20 percent qoq growth was absolutely pathetic .... I mean salesforce now a 10 billion dollar company grew faster than getswift last quarter... something isn't right there. Joel mentioned they will continue to have geometric growth. Well they had a declining growth curve last quarter compared to previous quarters.

We will never know when customers cancel service . How can I as a share holder have any confidence bugs are being fixed, user adoption is on the growth path I need to see to allocate a very high PE ratio on the company?

Management have been hugely dissapointing in throwing stones at AFR on Twitter when they broke the news, but some of what afr wrote was true. Now Joel and Bane have a lot of egg on their face. They have lost a huge amount of credibility and acted like a pair of kids stealing from a candy store and they've been caught red handed lying to their shareholders. I think they both need to step down in all honesty.

There is even more uncertainty now after all this then there was before this sheet show got started. We have no transparency on any major contract no timeline for revenues, for when pilots will end, no visibility on when a customer could pull the pin, and now a very real and credible class action threat because lots of people lost lots of money and managemwnt have admitted they were not disclosing all info.... isn't that basically opening the doors for an immediate class action?

I still hold but not sure for how long. I cannot after all this deny afr had some truths, yes they hyped bits and got most of their writings completely wrong (intentionally) they got a few bits right.
I can't deny that a great management team would never have got into this position in the first place, so am putting it out there that Joel and Bane are not asx level management and certainly not of the calibre to run a billion dollar company. I don't think we saw * ups of this proportion from atlassian or Facebook when they were growing.

Major concerns here....as I am sure there are with other holders... I have shares in OGX a real penny stock and I have more confidence in the management of OGX then I do of GSW right now.

Future announcements:

No major new wins of late, why not?
No updates on major deals yet, but fingers crossed we get something soon?
Updates on the 2 law firms and class actions will be coming very soon imho, over the next month since losses have now occurred and breach of disclosure admitted. A class action alone could sink the company since material losses exceed all monies in the bank!

Scary times ahead imho.

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Thanks for this mate.

GSW Price at posting: 95.0¢ Sentiment: None Disclosure: Not Held
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