Today's announcement .. minimum rev of $2.9m AUD per year for five years. About a 25% increase in rev for cca. Bear in mind that cca alreadt manages 16m+ cards globally .. but none of those are as issuer. Vertexon is cca's card issuance and management business and is about 50% of rev. So call it currently rev per card of 5m/16m = $0.31c / card. Whereas the cards announced today will be delivering $2.9m rev on 35,000 cards. Rev per card of $82. Where would rev land if cca can convert 5% of their current cards to issuance cards ? You do the maths ... a company roadshow is about to commence btw and I'd expect this to be the core inference ...

I met with the CEO the CFO and the CTO today (virtually). Check the annual report which is imminent. Check the new offerings, the growth path, the existing ARR, the existing client base (which includes all the big 4 banks as well as Mastercard, thanks for coming) and the current EV, which is maybe 2x revenue. It's absurd and it's not going to last. 

A jaw-dropping announcment by cca today once you think through the implications .. seems to me that market is a bit slow on the uptake .. the record date for the entitlement offer is the 16th .. so shares purchased today (Fri 11th) are eligible to participate.

It would seem logical to expect to see an update re banking customer referrals at or soon after the EGM on 7th August when the allocation of shares to CBKC will be ratified.

Extremely valuable assets lurking within this enterprise value of $20m. The tech (payments processor and enterprise solution suite) is proven and validated and is truly world class. The monetisation process has commenced. A great CEO and board, sufficient cash and cash facilities for now, and eyes fixed firmly on a very large prize: a single banking client can deliver $1m+ of revenue.