Good work 13th and Abo for some realistic posts. There has been too much crybaby negativity lately.
I was at the AGM and was moved to travel there from interstate to eyeball the management such was my concern about Covata's progress and lack of monetisation of what is great tech.
What was obvious to me was the Board recognised that existing avenues to revenue i.e. Cisco/T-mobile on seller model was not getting the job done (at least for the moment) and the government security sector would be the primary focus particularly in the UK. The appointments of Bill McCluggage and subsequently David Irvine are absolute top shelf and inspires confidence in this strategy. These men move in the circles where "whole of government" decisions are made and should Covata advance via a successful POC, uptake would rapidly spread because of the exclusivity of our security accreditation. This was alluded to after the AGM concluded by a comment from our outgoing Chairman who had experience via the 911 emergency call implementation where once one service joined the others followed quickly.
In my opinion we are knocking on the door of eventual "whole of government" possibilities in the UK. We will have to have some patience yet and nothing is certain but if I took anything from the AGM and subsequent appointments there is a lot going on that will realise Covata's potential so don't be dragged low by the latest 4C.
Keep the faith.
Redtank.
CVT Price at posting:
7.3¢ Sentiment: Hold Disclosure: Held