I think the Cyber deal is done and dusted. What everybody needs...

I think the Cyber deal is done and dusted.

What everybody needs to consider is do they want the buyback or do they want to explore options with TSI. I think their last EBITDA of $3.2m for the September quarter is a sign of things to come from them. They will need capital to extend that out IMO. If most prefer the buyback, it is not worth wasting my time.

My plan would be to switch out the board, so we can have a good look at that opportunity. The board would be a "holding" board to see if it is worthwhile to progress any deal based on the cash VOR will have. If I deal is worthwhile for shareholders, the board would evolve over time to match the competencies required for the direction taken. The people I have in mind have strong legal, compliance and financial acumen and would be independent for at least 2 positions. We need to get a third that can be a current shareholder. By these boards it looks like we have some capable people here.

I'm happy to put my name to a section 249D and have around 1.6m shares under my control at present. I will need some other large shareholders to get to the 7.5m vote level to call a meeting to vote on the board.

I feel there is a large opportunity here to go back to the future. Each to their own, but nothing will happen (as we have seen over the years) unless we act, as their is no good faith with our current board IMO. The ball is in our court to either do something or sit on our hands.

There have be certain calls made around with some holders (but hard to get commitments), but my view is that we will need at least 30m votes at the time of a a vote on directors to have any chance of rolling the board. Timing is starting to get important. A look and see approach will not work in this case IMO. Time either to take control or take the consequences.

Cheers