Agreed an update would be appreciated. Do we even need the BC...

Agreed an update would be appreciated.

Do we even need the BC invest $10m now with the 8m Reckon dividend? this cashflow would not have been factored in when initially when the agreement was put in place?

The great mystery of Novatti is the numerous licenses, partnerships, subsidiaries and agreements that are not fully understood by the market and the investors, I for one have a tough time describing the intricacies of the value proposition.

The reason this one has not taken of in my point of view as its just seen as a stable growth business, there is nothing exciting or compelling to suggest exponential revenues are around the corner.

I initially bought in on the back of imminent banking license application approval and some 12 months on there is still nothing, of course the repeated commentary from the company is that its in the hands of the regulator which I accept, but still frustrating.

The explosive growth I see will come through the banking business going live, as this ties all the elements of our eco system together, without this Novatti is a very good business but will fail to be a big player as I think it can be with a Banking License.

Additionally i've gone back and been watching some of the early presentations from Peter Cook, he stated in the below presentation that in year 1 the plan is to have 65 staff to run the banking business, Peter is also said recently that the banking business is already fully staffed so you can extrapolate that currently Novatti is carrying 65 staff of which no revenue is being generated against.