Nice research johnel, you have not got one thing right.
1. John Mittens was never a director of Storm. He was a director of Cable & Wireless at one stage, amongst several other senior positions.
2. Storm was a joint venture between George Soros Equity Partners, Merril Lynch and the Management team via an MBO. Storm was placed into administration in February 2002 for a very short time, before it was bought by another carrier in Europe. Therefore it is an impossibility that there can be a deal between the two companies.
3. Anite Calculus did provide the billing system for both companies. If you look at the calculus web site you will see they also provide billing software to Microsoft, HP and Sybase amongst others. That does not mean therefore there is relationship between these companies and ATC.
I find it interesting that there seems to be continual speculation on the nature of the deal that was alluded to in the response to the ASX speeding ticket. Why do people focus on this (when there is no information aviailable ) instead of the fundamentals?
Lets see: $770,000 qtr 1. $2,000,000 qtr 2, with less than half of the customers connected. Break even by July. 40% operational margin, which can be maintained. The only telco in Australia other than Telstra which will be profitable this year. I have heard figures of $4-6m positive EBITDA this year. Why waste time on rumours like those above re Storm (especially if they are wrong) when the facts are in front of us?
ATC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
