It all has to do with change in CFO. I personally don’t believe...

It all has to do with change in CFO. I personally don’t believe it is anything more than that. Matt Brown has been a stalwart for Livetiles over the years and investors felt Matt was safe and dependable. A steady head who had been there from early days. However, Matt was there from the days when cash receipts were approx 200K a quarter. Fast forward 4 years and Livetiles is sitting in a different league, on the cusp of greater growth. Matt has a law background. All respect to Matt and where he has taken Livetiles but the company now needs a tried and tested CFO in the role to navigate the next stage of growth.

Unfortunately the announcement didn’t get received all too well. Given that Rowen Wilkie is relatively unknown and Matt was such an identity of Livetiles, I don’t believe news such as this was ever going to be received well by the market, even if we had received an announcement weeks before stating the hunt for a new CFO was underway.

what probably didn’t help was the language used in announcing the resignation. It had an air of immediacy which insinuated that the relationship between Matt and Livetiles soured. In rereading the announcement, if you are to take it on face value, then it appears Matt is still in the fold at Livetiles and agreed that what’s best for the company at the size it is today compared to where he started 4 years ago, is to take on more of a business acquisition role and find a specialist CFO. I don’t get the sense of anything sinister that I believe the market has perceived.

All in my opinion though, it’s up to each person to make their own assessment of the situation