So.

As my first 'real' investment on my own accord I can definitely feel the human emotion side of things come into play.

I saw they kept acquiring business after business and then listened to the baby giants podcasts where they talked about how growth by acquisition rarely ended above sound results - I wanted to sell.

They announced some new hires of which had background in telecoms and previously scaling business' - I wanted to buy.

Recent insider buying pointed out by @TEPCapital again has given me another bull 'straw'.

I have decided to accumulate (laughable lunch money $) on the recent lows and will look to scale out some if it reaches 0.19, which is the first price that management can exercise some options.

My first straw as a new investor. Let’s get a pinch of salt and do this.


@Valueinvestor0909 and @Firedup have covered the financials below, in which at this early stage of my investing career, numbers are numbers, I can’t dive deep cause I don’t exactly know what ‘I’m looking for’. That said;

- Super small market cap (Possibly dangerously so, looks to be illiquid some days).
- Profitable (just), with $5mil cash at the ready.
- Just completed a hattrick of acquisitions – being based in Sydney, they are buying their way into Melbourne.
- Good inside ownership (I’m presuming this is quite normal at this small level anyway).

As of  30/6/2020, the total shares owned by key management was 26 million.
As of 30/6/2021, the total shares owned by key management is 78.6 million.

A big part of those was by Ryan O’Hare who was the founder of Next Telecom in 2007, one of the company’s recent acquisitions. He also founded another company in 2014 called Next business energy that apparently was the fastest growing in 2018. He was issued around 42 million shares – Worth Approx $3.5 million at the time of writing. Because of this, I am assuming he has been brought in (along with his company) as an aggressive move to grow the group.



RISKS: Basically, everything at this stage, they’ve stated covid was a head wind, so who knows when we will be out of this mess, and they can have a chance to increase organic revenue growth. They are buying companies and have decided to run them in their respective sectors, this may pose problems for the ‘Culture’ of how they end up deciding to run the show, but still early days.
They have a tiny domestic footprint yet are trying to gain clients overseas, especially Asia.
Haven’t had a good look at other competitor’s in the space, but in terms of competitive advantage, “Microsoft teams” appears to be what they will be hanging their hat off.

Looks like they are gathering their ducks, still early days so lets see if they can get those ducks aligned. Started with a super small position at 0.08 to follow along.