Just noticed this healthy contract on AusTender:

A few more of them will go a long way!

No better way for the company to give us a wink @Wini : I think you nailed it

@Wini @JPPicard great discussion. I remain a holder, in fact I am looking to buy more at these levels when I free up some cash. 7m market cap? As per @Wini's snooping, they have just won a 500k contract with one of their many government partners. I think that speaks to the opportunity and the risk/reward. Do I think they go bust in the meantime? No. Too well supported across government -- state and federal, but mainly the latter. As alluded to by both of you, government partners can be the best kind (when onboarded) -- sticky, cashed up and don't like to change when onboarding is complete.

Similar to you @Wini, my investment thesis remains the same. It hasn't been smooth sailing though. I didn't think the Protected implementation would be so expensive and dragged out, nor did I account for the exxy implementing costs. The former in particular was necessary and holds them in good stead across the suite of federal government agencies though, particularly defence who remain the blue sky opportunity. I don't think I am the only one caught off guard though, when their CEO was interviewed on Strawman, he suggested they would be cash flow positive in most of their future reporting periods. He was miles off. Similarly, they suggested they wouldn't need to use the chairman's loan offer on the table, and I will hazard a guess and say they will. Definitely not perfect execution by any means, but such investment and implementation - particularly for such a small company - was never going to be seamless.

Where I remain sceptical is CardHero. As it stands, I see this as a waste of time and money, and an unnecessary distraction during a key point in their history ie expansion of their main product within the federal government. This is also another one they haven't got right, with no real significant wins/traction after many months (and then some).

To recap though, I think the investment case is as strong as it has been for the last few years.

Worth noting that the department of finance appears to be an existing customer, not newly onboarded.

There are lots of old contracts with them on AusTender and there are past asx announcements listing them as a customer.

Down 13% today. Hopefully that's smallcap turbulence. The cynic in me says upcoming capraise.

@Wini they must have heard you when you said a few more will go a long way. Another 3 contract wins on Austender a strong end to the financial year for 8CO, in terms of contract wins and hopefully in cash flow too.

Todays 4C has $1k positive operating cashflow and therefore quarters of funding available is N/A.

I'd love to hear people's thoughts on what work has gone on to put a 1 in the net cash box. And with the June quarter typically being a good one, especially for Government consultants, will this be repeated or improved upon for the next quarters 4C?

I need to do a more comprehensive analysis of the report @Bushmanpat but my initial observation was disappointment. Typically their strongest quarter - like you allude to - but barely cash flow positive. It doesn't bode well for the next few reporting periods which are likely to be in the negative range again, and result in the business tapping the chairman on the shoulder.

Most disappointing part for me the number of users not gone anywhere in a year.

This stock will make quite a few LONG term investors.