AGM did not yield any new information and certainly no...

AGM did not yield any new information and certainly no indication of forecasts.

Capital raising on the way! Told you. (Last page of the AGM Address To Shareholders)

The future
As well as seeking organic growth opportunities we will be looking very seriously at merger and acquisition opportunities both in the domestic and global market.
(And if we can't find anything meaningful to takeover then we will just grab some for Opex, ok?)
We have put in place a capital management strategy. We have already demonstrated this year our commitment to reducing capital expenditure and have capped the rise of our operating costs.
(So a 10% Opex rise in FY08 compared to a 47% Opex Rise in FY07 is a demonstration of what exactly? And still lost $8M in FY08, please, don't pat yourself on the back for this!!! And let's not forget the wholesale desctruction of sales revenue, if the last 2 qtrs are anything to go by then FY09 is shaping up for $3.6M in sales vs FY08's $4.8M.)

We have also engaged Newport Capital to help us secure new strategic investors, and we currently have an information memorandum out in the market.
(Look out, cap raising! I thought all investor presentations had to be posted through the ASX?)


Seems to me that Freshtel have tried to convince shareholders that they have been losing gobs of money due to the fact that they were in R&D stage and that by her own admission Rhonda says they are now out of it and reducing spending in that area and effectively selling what's in stock. Now, this little pre-cap raising hint? Why can't they just get out there and sell and trade thru and build slowly.

Rome wasn't built in a day for a few reasons, mainly because the Romans could not afford to, what makes Freshtel think they should be any different?

Look at my favourite VOIP stock Mynetfone, quiet achiever, no fancy overheads, 100% PA growth and on target to be Australias first ever profitable VOIP company in FY09. Now that's the way you do it Freshtel! Plenty of room in the local VOIP SME & home market left, still about 10M potential customers to convert. Sheeesh.