Well, that is more than disappointing. In the Chairman's report...

Well, that is more than disappointing. In the Chairman's report of May 2 2016 under the heading Revenue From Telstra Related Activities it is stated that "Over A$200k billed last quarter already via our partner program" and "the Company is forecasting an exponential growth". I understand IWG might only get a percentage of that but now they're reporting $54k for the June quarter, and $264k for the year. $264k for the year is an average of $66k per quarter so the $54k for the last quarter is actually less than average. That is not "exponential growth" in any language.

Based on previous form a Chairman's report should be following soon. What will that have to say? It needs to be something special if it's going to generate any further interest.

The only thing I can find to provide anything positive here is that new investors have stumped up over $5 million and they wouldn't do that lightly. Hopefully they know something the rest of us don't. I guess at 4.5c entry there is a lot of upside for them compared to us early birds.