spike, page-3

The list in my last post are the target customers in Australia for Rubik.

With the goverment aiming to make these guys "the fifth pillar" of Australian banking I can see the potential for growth from the building societies and credit unions. Rubik will be well placed to assist these guys in upgrading there I.T. including providing cloud banking through the "bank in a box" product.

Rubik has a relationship with 280 customers including ANZ and Telstra who are using the recoveries and receivables service. With so many customers it gives them a foot in the door to on sell other products.

Rubik have stated they are looking to acquire a profitable company with the 16mil in cash. At the current share price I see this as an opourtunity to in a sense get into an ipo at a discount assuming the guys can stop the cash burn soon!!

One question i do have is - is the bank in a box product competitive? without being in the banking industry i have found it diffcult to find info on the systems that are being offered in competition to it, the demand for it, the quality of it and how the industry perceives cloud banking. If anybody has any insight into these questions it would be most welcome.

In summary

Positives

-Bank in a Box
-Organic growth
-Potential acquisition

Negatives

-Cash burn!!!!!


oh and centrenow I cant give any insight to the sudden jump in share price other than it has happened before and they are still at a discount to the cash value.

DYOR