a review of fre announcements in the last year

Here is a summary of Freshtel announcements (just the announcements that are intended to increase revenue) over the last year, announcements intended to convey to shareholders that revenue & profit would increase as a result of these announcements.

In light of the fact that the half yearly report will be out in the next week or so, it is a good time to review what, if anything, have these announcements added to the revenue base.

The last 2 Freshtel quarters yielded just $900,000 & $930,000 each. If the current quarter is about the same you can only conclude that these announcements have no merit and limited commercial value. As a FRE shareholder serious questions must be asked, most importantly being "is this company being run properly?".

I wait with baited breath to see the Freshtel half yearly sometime next week....

20.01.2009
Freshtel expands handset range for mobile product

15.01.2009
Freshtel signs white label deal to target Australian Christian network

27.11.2008
Freshtel signs MOU with Hong Kong based CITIC Telecom 1616

10.11.2008
Freshtel signs MOU with AsiaStar

27.10.2008
Freshtel and PTCL pre-paid calling service goes live

18.09.2008
Freshtel signs white-label deal with Pakistan's incumbent telecommunications provider

15.09.2008
Freshtel appoints new Director

09.09.2008
Freshtel launches its Mobile Internet Telephony solution in Australia

02.09.2008
Tesco launches Talk Wi-Fi Mobile Internet telephony service to UK customers

11.08.2008
Freshtel inks deal with call centre specialists Quantum Multimedia Communications

*??.07.2008
Freshtel Partners with Star-Tech for calls in Uni

02.07.2008
Freshtel appoints new director

* Could not find the official annoucement for this one but it was announced and is contained in the FY08 annual report.

Consider that your top 11 Freshtel Executives drew wages of about $2M in 2008 to do this work for you. Are you getting value for money here? I think not. Remember 2008 was an $8M loss year.........

Consider also that CEO Rhonda drawing $400,000 PA wage from Freshtel has been there since July 2007. I know a lot of people have been giving Freshtel a chance for the new board to change direction but is 18 months not long enough to make any sort of positive impact????

For your reference.

2007 July – Former Telstra Businesswoman of the Year
and Novell Asia Pacific Chairman, Rhonda O’Donnell is appointed new CEO of Freshtel.