I bought in about just over 6 months ago after the annual result...

I bought in about just over 6 months ago after the annual result at 44c and also got a nice dividend.

This company is a great cash generator.

With strong recurring revenue, they makes a good margin, and spend quite a bit on R&D, pays a dividend and has increasing cash levels.

In the last half, cash increased $4M, when $2.5M paid in dividends. Based on 100M shares on issue they get an increase in cash of 6-8c per share per annum. With 17c per share in cash, a share price of 60c per share is not over the top.


It has had flat revenue for a while, decreasing European revenue (partly due to the rising Aussie dollar) offset by some local revenue growth).

It is worth holding at current levels for the cash it produces. If they can get some revenue growth there should be upside in the share price.

Just watch that they don't try and so something silly with all the spare cash. A share buyback would be a nice option.


I would like to hear from anyone who uses their software to see what they think of it.