Oh no. It's 50c reef!!, page-85

I asked the same general question about 'moat' a while back. Their software seems to be fairly well regarded in a fairly crowded space. There are no big competitors in Australia, but there are in the US.

I'm on for a short trade - that's dragged on a bit now. As to fundamentals, my own view is that if GSW really does have a contract with the US auto parts industry via NA Williams and if that is currently being used at any scale - then GSW would seem to have something. Problem is: despite the announcement that there is a contract with NA Williams and that contract would generate AUD138m pa when fully implemented, there is currently no real evidence of that contract. Just anemic revenues, rising costs and a lot of uncertainty. I never thought I'd say this: but thank goodness for the class action lawyers who will drive some accountability from the individuals on GSW's board.

For the moment though - the lower lows are bringing us close to the dreaded 50c reef. EEEEEKKKKKK.