Ann: Statseeker Update, page-6

Good insight. I think I will wait a to the half year update to see how Statseeker performs and what happens with the new Management in the UK business.
I agree the 2018 target will come down to Statseeker or an Acquisition and that could be very exciting. ERST looks pretty solid and exchange rate has resulted in some good gains across the businesses which I like.
Based on the announcements the new management has been at Statseeker for almost a year and customer numbers appear to be staying steady at “over 500”. I would expect big things with the new version, channel market and investment in sales.
In 2014 Statseeker Rev was $4.5M for 10 months(?). In 2015 it was $5.3M full year (?). If so monthly revenue looks like it dropped $10K p/m when the exchange rate moved 10 cents. Costs also blew out but would think that is for the restructure. With their exposure to 60% in the US I would have expected even at run rate sales that their revenues increased. That makes me cautious about the latest news – the 144% growth in new sales year on year to October may simply have been recovering lost ground? Would be great to know how the business revenue works in that company (new sales vs maintenance).
Retiring the bank debt looks positive. In June it was $1.18M against cash of $1.27M. $500K of working capital was put in back in Dec 2014. I hope that they haven't completely emptied the coffers and there is still plenty to invest in growth. I suppose it'll mean the accrued fees might start getting paid. The 2014 to 2015 comparison was lacklustre and can't see how that will drive to the 2017/2018 projections without something special. Just need to make sure I get in at the right time/price…. could be a good buy if they get it right.