Yes, this is good news. Rhonda was a toxic influence on the...

Yes, this is good news. Rhonda was a toxic influence on the company. Any change at this point is much better than the predictable position they were previously in.

Let us hope that they get the business and running in a sensible direction asap. They need to batten down the hatches, get rid of more fixed OpEx and look for deals that can be closed and just get on with it, whatever it is.

The issue of raising more capital will need to be addressed very soon along with a believable plan to take to market to secure that capital and get shareholder support. A further dilution of existing holders is totally inevitable unless someone like Custodial floats them a few million on tick, very doubtful.

If they rehire another CEO on $400K PA then you know it is all over bar the shouting. This would show they are again rudderless and the outcome once again retains its negative predictability.

As for Custodial track record of turning companies like this around, I have seen no evidence of this, what companies are you referring to? The most obvious recent company they were heavily involved with was ERG and that by any measure is a $200M white elephant. Remember that was the company that the NSW Govt sacked last year due to it's non performance in public transport ticketing.

I do not want to pour any negative on the Custodial hookup but if they are going to save this puppy what evidence can you offer that supports their ability to do this? What other responsibilies will be distracting Duncan Saville? Plenty I suspect.