Ann: Half Yearly Report and Accounts, page-2

Released a day early - which is very un-Tesserent like LOL.  

Solid result, particularly when you strip out the Blue Reef revenue.

Doesn't mention cash flow positive in outlook for 2H 2018......which seemed likely based on the estimated outflows from prior 4C.  Can understand the desire to be very cautious with future projections.

Tesserent would have to be an attractive partner for a Tier 1 Telco / other business.  It would also be an acquisition target.  I dream of the day when Tesserent announce a Trading Halt and a takeover offer at 75c per share, which has been recommended by the Board LOL.  No more $4 lunches then.  

TNT's blue chip client list is super impressive (particularly given TNT is a small business itself) and CyberBiz is an innovative and cheap product that has no real competition in the market as I understand it.  A SMB looking for a 24/7 cyber security solution at a reasonable price point has very few options.