Australian (ASX) Stock Market Forum

Management Restructure
The company has undertaken further restructuring of the business following the changes announced on August 30 and the completion of the Saisei acquisition. The changes reflect the company’s continued commitment to its key strategic goals of:
• Building a sales-led organisational culture;
• Higher growth; and
• Increased capital efficiency
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Management shake up; what gives? Not much. Where are we going? S(l)ideways. now 5.5c
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Sales & Marketing Update
The Board and management are confident that acquiring Saisei will enhance FirstWave’s already strong pipeline of opportunities and add to the significant transformation already achieved since the acquisition of Network Management Software company Opmantek Ltd in January 2022.

The previously disclosed significant transaction with a large, North American telecommunications company remains active and has progressed to procurement. FirstWave is working through the company’s procurement processes and has agreed the governing terms of engagement. The closing date of the transaction continues to remain uncertain and has already been subject to significant slippage. The Company will advise shareholders when and if this situation changes. The company is working on several other exciting opportunities in USA, Latin America and Australia.

The company’s CyberCisionTM cybersecurity platform remains an integral part of FirstWave’s business and will continue to provide growth opportunities. The company's long-term relationship with Telstra and leveraging of the CyberCision platform in Sydney is continuing, including developing a sovereign email security platform compliant with the Australian Cyber Security Centre’s Information Security Manual
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FirstWave Chief Executive Officer Danny Maher said:
These structural changes, together with the acquisition of Saisei, reflect the opportunities we see to grow the business. The management changes, and addition of the Saisei technology and people put the company in a strong position to grow sales and revenue in line with our strategy to be a sales ... etc."
 
what happens when there is no meaningful progress? A pivot, strategic at that! $0.049
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Strategic pivot in investments to maximise and accelerate opportunities
• Strong sales pipeline for NMIS in US and LATAM where greatest value for FCT lies.
• Organisational restructuring of executive, product development and marketing which will lower ongoing costs by $1.5m annually.
• Non-cash Saisei acquisition enhances NMIS IP and brings customers, revenue and people.
• Normalised cash usage under $0.5m per month
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I am pick FCT for June 2024 Tipping Comp.
It hit an all time low today. Maybe one day I can choose a positive stock. Here is a six month chart.

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I am pick FCT for June 2024 Tipping Comp.
It hit an all time low today. Maybe one day I can choose a positive stock. Here is a six month chart.
and, is this the reason it has sold off (ahead of the news) ?
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Telstra Partnership Update
Following on from the extension of the Telstra Product and Services Agreement announced on 02 April 2024, FirstWave provides an update on shifts in strategic focus at Telstra and how they affect FirstWave.
The shifts in Telstra’s strategic focus are threefold. Firstly, capitalising on the potential to grow revenues from key customer contracts under the Product and Services Agreement, and, to give effect to this, FirstWave is now engaged directly with Telstra and with the more significant customers; secondly finalising launch of the sovereign, government compliant (ISM) email platform – the ISM platform is a multi-tenanted ISM compliant platform in Australia and is delivered by FirstWave, Cisco and Telstra; and thirdly, removing or closing less profitable lines of business.

Specifically on this third element:
- FirstWave has advised shareholders in recent quarterly updates of the changes in Telstra’s firewall security offering, Gateway Protection Advanced. As a long standing and understood strategy, GPA is non-core business for FirstWave and does not involve significant FirstWave Intellectual property. This offering will be decommissioned from the end of this financial year. The decision affects 27 customers and will result in the loss of ~$730k in Annualised Recurring Revenue and ~$440k in Gross Profit per year
- Telstra will decommission an uneconomical infrastructure platform at some time during this calendar year. FirstWave is in discussions with Telstra in relation to the affected customers. They may be moved directly on to FirstWave’s Sydney (AWS) platform which will result in increased revenues for FirstWave, or their contracts may be terminated. In either case, there is no material financial impact on FirstWave, and
- A recharge for hosting services involved with this platform of circa $100K revenue at zero margin to FirstWave will cease. FirstWave sees ‘cleaning this up’ as helpful in simplification of its transactional relationship with Telstra.

Overall, FirstWave sees these shifts as complementary to FirstWave’s core strategies of expanding its international footprint in North America and Latin America, and domestically securing extensions to current customer contracts under the Telstra PSA and launching the sovereign ISM compliant email platform. Management looks forward to releasing further updates on both the ISM platform and the LATAM/USA markets.

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has FCT turned a corner?

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FirstWave receives Contract Extension and Uplift for its Largest Customer
... under its PSA with Telstra, FCT has extended and uplifted a contract with its largest customer for FirstWave’s CyberCision cybersecurity-as-a-service platform. While full details of the contract are subject to confidentiality agreements, FirstWave’s revenue is contracted to grow by approximately 20% in FY25.

The Telstra platform that hosts CyberCision for the customer is an ISM compliant platform which is the forerunner to the new all of government ISM compliant platform recently developed for Telstra by FirstWave. The ISM (Information Security Manual) standard is the Australian government security compliance standard, and Telstra and FirstWave are targeting ISM-compliant cybersecurity-as-a-service for Australian Government users.

FirstWave CEO Danny Maher said:.
The FirstWave team worked hand-in-hand with Telstra on this project, and we are delighted toexpand this contract on terms that work for all parties. “CyberCision’s complete cybersecurity-as-a-service platform enables service providers like Telstra to offer enterprise-grade security at scale and reduced cost.”
 
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