Highlights:
• Strong cash position. $0.5M banked in February from Family Zone (ASX:FZO) transaction ($1.5M cash received so far) with another $2M expected by 31 May 2017. Tesserent is debt free.
• Tesserent is executing its business strategy across a broad range of customers and sectors.
• $2 million worth of new contracts secured so far in 2017, with revenues from these deals being realised post-implementation on a monthly pro-rata basis during this financial year and into the future.
• Government introduces new legislation (Notifiable Data Breaches Bill) on 13 February 2017, which is already having a positive effect of Tesserent’s pipeline.
• Revenue is growing, with the management team aiming for contracted revenue of $500,000 per month by 30 June 2017.
• Completed highly successful Austrade trade mission to the US in early February 2017 with introductions to potential new clients and channel partners.
• Management currently in negotiations with potential large domestic channel partners including potential telco partnerships.
• Currently undertaking national broker and investor roadshow to update and deliver company strategy to a range of investment managers.
Tesserent Limited (ASX:TNT, Tesserent, the Company) is pleased to provide a report from the CEO Keith Glennan, to shareholders and the investor market, on recent and current activities conducted by the company over the past few months.
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