Ann: Change in Board & Senior Management, page-19

I agree Eqz. For me, the business opportunity and technology platform seems sound. It's good the CTO is still involved.

But the company has never been setup with the right capital structure. It's been a drip fed operation from day one. CT1 really needs deep pockets for massive marketing campaign - that's critical for a B2B SaaS model. The pipeline is positive, but they need to drive more sales. We haven't seen any major conversions for a while. To Carnival's point... hard for them to win major contracts win the finances in a mess. Also, hard for them to build more product to sell with no money.

I'm not so sure about the US side of the business. CT1 has certainly secured some impressive accounts in Las Vegas (Bellagio, MGM Grand,Stratosphere etc). But breaking into the US is an expensive exercise, and we must have burnt a fair amount of money on the US so far for little return. Perhaps it's better for the company to focus on Australia.

I think the board will try and get a convertible note to provide short term funds (say $1m) and to see themselves clear of the March QTRLY.
Then they'll try for a combined acquisition and more substantial cap raise.
Let's hope we get an update soon.

I'll continue holding CT1. No point off-loading now.