nothing about how they have gone about announcing this delisting...

nothing about how they have gone about announcing this delisting (the initial ASX release, the reasons for doing it, the communication to shareholders - no video call/webinar) should provide minority shareholders (i.e. us retail shareholders) any comfort that this is in their interest

in fact nothing since the strategic review last August points to tangible execution to indicate that the share price is divorced from reality (ARR in Sep21 of $64.5m with 1026 clients and ARR in Jun22 of $65.6m with 1087 clients) - in the meantime, ~$5m in operational cash outflows between Sep21 and Jun22 which has come from the loan.

They have had ~$3m in cash outflows in relation to Brainpac, Bindtuning, NetZero, Hide&Seek and Human Link and we have yet to see a strategy page that highlights how they intend to leverage/integrate/cross-sell across those purchased businesses or investments - in the meantime the claimed burden is quarterly reporting (i.e. a cashflow statement) and communication to ASX.....both cashflow, semi-annual accounts, and communication to shareholders is not unique to listed companies

I'm not sure what is possible with mgmt and a board that own 20% of the company, but it would seem appropriate for mgmt (or the people/persons who suggested & supported delisting) to step aside and let someone who is committed to growing the business get on with the job!