Privately owned Brennan was the eventual acquirer - now in the process of integrating MOQ into the existing business.

MOQ is to be delisted which is probably not a bad thing given the tainted past of losses. Interestingly Brennan is now looking at funding options including listing. Different story to tell I guess.

https://www.brennanit.com.au/resources/news-room/brennan-becomes-biggest-aussie-system-integrator/

Woah, seems I jumped the gun and the deal is not done yet.

Another higher bid on the table now.

And it's done. MOQ has been acquired by serial acquirer Atturra (ASX:ATA). The deal was done at 5c per share, effectively valuing the transaction at only $15M.

This is likely a good result for suffering shareholders who have seen a 70+% decline in share price in the last year, and employees.

It was less than 3 years ago that current CEO Peter Ward company Wardy IT was acquired by MOQ for $7.5M.

Following on from the previous two straws by CamSmedts34, there has been no improvement. Indeed, the FY20 loss has been followed with another in FY21 with accumulated losses now over 44M.

Cash holdings are less than 2M, although this will be/ has been improved by ~4M with the sales of non core asset Skoolbag. Receivables has also grown considerably to 12.5M, with 2.3M of that aged.

The annual report alludes to staff churn which has two resulting impacts. One in recruitment fees, and the second is market expectations for new hire salaries increasing. Neither help a business where staff costs are a significant proportion of expenditure.

What also concerns me is the dollars some of the management team are paying themselves. All received large increases in the last 12 months of between 20-45%. That and only one of them is on an incentive based salary, and that recipient is not the dude heading sales.