Ann: Investor Update, page-28

Let's be honest - the Blue Reef acquisition was a disaster. Extremely unusual to acquire a business and then offload it (or part of it) within 6 months. Tesserent had revenue of less than 4 million when they acquired blue reef - how on earth were they going to service all the staff costs (at 2 million per annum??) and pay for the Blue Reef product development?

At least those Blue Reef costs are behind us, and Tesserent can focus on getting sales.

I must be dumb - but I can't understand why you couldn't run a small cyber security business like Tesserent for less than 6 million per annum? Where on earth do all the costs go? How many staff do you need? 50 apparently?? What to they do all day? I would have thought 20-30 staff would have been more than enough for a business of Tesserent's size. Some security engineers, a few sales people, some support staff - what else is needed?

Moving on - I don't know why Tesserent doesn't don't do a little radio advertising, or advertising in SMB magazines - promoting their cyberbiz product to SMBs. Has to be a demand for the cyberbiz product - just needs to get the message out there.

Alternatively, why not offer the cyberbiz product for free, for say 1 month? Would cost Tesserent a little bit upfront in customers that back out after 1 month - but a good marketing ploy to get SMBs interested in the cyberbiz product.