Just a reminder re background on Track acquisition. This is what...

Just a reminder re background on Track acquisition.
This is what was considered to be the basic purpose of the acquisition by researchers.

We view Crowd Mobile’s acquisition of track as immediately value accretive and strategically sound. The transaction has an enormous impact on Crowd Mobile’s distribution capabilities, expanding its quantity of telco distribution partners by 170 per cent, doubling its national market presence, and increasing language compatibility by 60 per cent. Whereas Crowd’s existing operations have been primarily ANZ and EU focused, Track provides immediate entry into new Asian and South American territories

Immediate synergies available to Crowd which underpin our pro forma earnings projections relate to the Company’s ability to distribute its proprietary content through Track’s distribution channels. Roll out of Track’s payment processing infrastructure across Crowd Mobile’s existing operations also presents a growth opportunity

The Track deal significantly enhances Crowd Mobile’s distribution capability expanding quantity of mobile carrier relationships by 170 per cent and national markets by 100 per cent. • Delivery of Crowd’s proprietary content via Track’s distribution channels, and increased utilisation of Track’s sophisticated payments systems are expected to realise significant synergies

Just forget Track's contribution when analysing CM8's performance with THEIR products using the synergies presented by having the Track platform. THAT'S what you should be judging Dom by!!!!

In September 2015,CM8 wanted to raise $12,779,690 in a rights issue to its shareholders to enable the purchase of Track.

SHAREHOLDERS took up just $2,757,147!!!! A shortfall, albeit underwritten (to outsiders) of OVER $10 million!!!

Just imagine if SHAREHOLDERS had bought the Track story THEN, all shares in the hand s of SHAREHOLDERS.

Then, to exacerbate that situation, CM8 simply couldn't convince the banks to lend to it on the VERY favourable terms available at that time. Gee, you couldn't even convince your own shareholders so why should we be any different?
Had the Track vendors not put up all of that dough, we would not be having these discussions.


Just a small analogy re Track which punters should recognize. Oil exploration company purchases company which has an exploration field from which a dozen wells are producing and generating a nice steady income.
These wells have reached maximum decline rate and will not produce any greater daily amounts but will still contribute income for many years, albeit at a declining rate.
The company uses that nice income to then drill another dozen wells, all producing at well above the levels of the "old" wells and they continue to drill more wells from that added income and to continually replace the "old" declining wells.
Company's performance is judged by what THEY have done above those initial dozen wells.

Track was always a "mature" business, unsustainable. Owners (and I bet, purchasers) always knew that.
Dom wasn't there to IMPROVE Track he went there to USE Track!!