“That said, we continue to stand by our guidance that we expect the business to become profitable in calendar year 2019.” This is from the Annual CEO letter on 8th Jan 2018. Did I miss the later announcement that this guidance had changed to breakeven by the end of CY2019?We were also never told the $69m projected revenue over 3 years could be cancelled with a months notice and no penalty. I wouldn’t have bought a heap of shares on the strength of that announcement if I’d known that major clause existed. We were also told these were conservative/minimum revenue estimates.Dave McLauchlan says what he wants and changes guidance without notice and consequence or accountability? There is always an excuse. Recently we failed to secure two deals...”our optimism was tied to two customers with significant order volumes who (following successful pilots) had verbally committed to purchase in December via the Digicel arrangement. “ Dave, I have an issue again with your wording. “Following successful pilots”. So no deal was signed, our agreement with Digicel is a mess, yet you claim it’s a successful trail. What has been a success about it? I’m sure you had a verbal agreement with Telstra and look how that turned out.
Change is needed at Buddy platform. Revenue down 36% which is a failure of the entire company. Sales team not doing their job at a time when they know re-sellers are failing to get a head of steam. A head must roll so that we can see again.
Hopefully this acquisition brings a capable CEO to challenge the current one.
