Ann: CEO's AGM Presentation, page-21

MJS, it always interesting to read how different investors/commentators see the lie of the land. For me as a shareholder of sometime and attendee of AGMs, I think the Track acquisition was strategically a good one. Yes it would have been better if the unit had immediately put lots of dough ray me onto the bottom line, however CM8 gained a significant number of new telcos immediately. I feel the number they now have (and still growing) is a very valuable asset that is not fully appreciated by the SM and does not appear on the balance sheet as such. Gaining this billing portal traditionally takes a lot of work and therefore time.
For me the reduction in debt has been important and with operating cashflow and CR it has been achieved in quick time. I agree the next reporting will be an important one for the SP and I am optimistic that it will be positive, albeit not as positive as some would like. But hell, Rome was not built in a day. JMT
Rikardo