Mitcham, I enjoy your critical analysis delivered with ironic...

Mitcham, I enjoy your critical analysis delivered with ironic humour. In this case you seem to be overlooking significant new developments detailed in the presentation, given there appears more to the show than just servicing the pool sector in Australia and the US with PoolBox.

They are now applying their services in the food and agriculture sector as well which to me signals that their cloud based modernisation solution is adaptable to different industry sectors.

However, the big one for me is the Cirrato Pay – WestPay partnership in the EFTPOS space. Not only does this provide a whole new revenue stream from the company, but the Cirrato Pay – WestPay JV seems designed to create a new offering in the Australian EFTPOS space with a point of difference of POS units integrated with customers financial systems. Connecting a client’s Point of Sale system with their financial system (eg Xero, MYOB, Quickbooks ect) is a massive innovation for most businesses and basically does away with the need for a business to employ a bookkeeper.

This type of POS/financial platform should be applicable across most industry sectors in Australia.

Looking at the market that this new offering from Cirralto will be entering next year, it appears the EFTPOS space has been expanding rapidly in Australia over recent years at the same time as ATM machines are declining as people move away from cash to doing everything with plastic cards. This seems pretty obvious from the statistics provided on this website: https://www.auspaynet.com.au/resources/device-statistics#eftpos

WestPay also seems to be a serious international player in the EFTPOS space who are keen to get their product into the Australian market. There is some info on their EFTPOS system on their website http://westpay.se/carbon/

I see a lot more to the story than ‘pool maintenance guys’ and think that after a roller coaster of a year the company seems to finally have a clear path to scaling increasing revenues next year.