Thought I'd share this interesting accounting note that I found...

Thought I'd share this interesting accounting note that I found buried on page 45. It appears that following the sale of the Blue Reef customer contracts to Family Zone, Tesserent was subsequently allowed to recognise unearned revenue from those same contracts that it had already sold. So this little accounting trick enabled Tesserent to recognise a revenue gain of $569k in the 2017 P&L for contracts that it had already sold, and will not actually collect revenue from!

If this revenue was stripped out (which you could mount a pretty strong argument that it should), then actual 2017 revenue growth is only up $180k on 2016 (less than 4%).

There's a couple of other little anomalies that I'll be bringing up at the AGM. Do we have a confirmed date yet?