Ann: Ceasing to be a substantial holder, page-5

Yes, well a most unfortunate combination of factors sees us down here - but the good news is the way ahead now looks pretty clear ...and promising!

We had Raptor seeking to 're-deploy' just at the wrong moment, when CRO was looking to raise. Throw in the Christmas period amid the worst month of December for the markets since the early 1930's (not to mention the undoubted savvy of Hartleys corporates vs our relative corporate ingenues), and you can understand, if not entirely forgive, the price at which the raise was set.

Gotta hand it to 'em - great entry point for Hartleys' clientele, though. And an infusion of fresh blood here.

Thankfully, as I say, that's all behind us now: Raptor's line is safely tucked away, the Company has its funding and, as you observe, Hc88, things look to be getting on track operationally.

Speaking of which ...

Included in the Placement announcement (08/02/19) was an Update that in the heat of things shareholders might have easily overlooked, or confused with the earlier EMBU supply contract.

Given the similarity of numbers and description, that was my reaction - to half dismiss it too.

But speaking with Marcus L'Estrange earlier this week, I was encouraged to learn this is an entirely separate deal to the EMBU contract.

And if that's the case, things really are looking up. Double the sums on the EMBU numbers against the backdrop of CRO's present market cap. Looks good alright!

And these just the hors d'oeuvres for entry to the mighty US market later this year.


PoolBox Update

The Company is also pleased to announce that it is currently in contract negotiations with a large chemicals supply and distribution franchise group to supply a branded version of the PoolBox vertical market software solution.

Whilst these contract discussions are incomplete and ongoing, both parties reasonably expect to finalise and execute a software supply agreement, subject to the finalisation of material terms and solution pricing.

The move to finalise and execute a software supply contract was a direct result of the completion of an ongoing beta program undertaken during 2018 involving 3 early adopter customer reference sites.

The franchise group network has a footprint that stretches across Australia and New Zealand and covers a mix of over 150 franchisee and associated independent retail pool stores.

The Company will provide an update to the market once the supply contract is finalised and formally executed by the parties, expected in due course.