SNARE & EMITEWhen I first found Prophecy several months ago, I...

SNARE & EMITE

When I first found Prophecy several months ago, I tried to really understand what Snare was and how it operated so I could compare it to the competition. I enlisted a friend who was the top dog Cyber Security guy at a large So Cal utility, and also a friend who is an engineer at a burgeoning fintech bank. (I really wanted to talk to Collin at Topline, but he never responded to me.) I don't know what I expected, but their analysis wasn't what I thought it would be. I wanted to know if Snare was a Ferrari, a Ford, or a BMW. And what I learned was that it just isn't that simple. It depends on the customer's platform, what sector they are in, what SIEM software they use, network issues, and many, many variables. It was hard to get any customers on the phone because of the size of the customers and the nature of the product, and when I did, the responses weren't too helpful. I learned more about Cyber Security and log management/analysis by reading books and listening to podcasts. But in the end, there are limits to "do your own due diligence". In the end, if you aren't an expert in the area, it can be really difficult. I ended up buying it because I trusted management's and a particular salesperson's opinion (and ostensibly sincere enthusiasm) and because the financials were solid--price not reflective of growth potential or even current value--and management seems straight-up. Very rare in US microcaps, not sure about ASX as out of the ASX companies I looked at PRO was the only one that really interested me. (I took a second look at AR9, LVT, ICE and DUB but they didn't make the cut ...)

My (clearly shaky) opinion was that eMite was a rockstar but in the end, Snare would be the product that would be explosive and could take this company's SP to 10X-30X. If I'm wrong, I see this being a 4X from my basis, .60. But, if I'm right and Snare is going to grow as I anticipate, I'm looking forward to the next several years.

I'd like to learn more about how Snare, esp. Snare Central, stacks up against competition, or any other thoughts you all have, so please let me know.

Cheers and Congrats!

10X