Ann: Investor Update, page-23

You're the eternal optimist, t1! I just can't see 30% rev growth.

So if I'm understanding this correctly, Tesserent received 3.6m for the Blue Reef IP sale, reduced their costs by 2m in the process, whilst retaining all the Blue Reef customers and revenue - and they still only increased rev by 15% (and turned a 3m loss). I'm assuming the 15% rev increase came from Blue Reef, which means their core business hasn't grown or may even be going backwards (which might explain why there are no sales announcements).

Am I missing something? I can't think of another reason why their numbers are so bad! Can someone explain? I'll be seeking clarity on sales at the AGM...