The Management of Clear Objective has committed to endeavouring to provide Shareholders with regular updates on core company activities. This is the first of these updates.
We are mindful of the constraints and obligations regarding disclosures by public companies, so, while we have tried to be as broad as possible, we have not released information of a financial nature, or information which is not generally available in the public domain.
We have avoided going into detail and sharing any potentially sensitive product or customer information.
Our aim, at this stage, is to provide these updates on a 6 monthly basis and, hopefully, we will become more adept as future updates are provided.
Operations
- The business relocated to a managed/shared office facility in the Brisbane CBD, delivering annual savings of approximately 40% off the cost of the old tenancy. The move has been positively received by all personnel (better facilities, public transport access, outside work activities, etc.). The provider has office facilities available for our use in all major capital cities, and partner arrangements with other providers. This will support any need for hosting meetings while travelling, and even recruiting employees in other locations.
- All server infrastructure has been rationalized, upgraded and relocated to a local managed data-centre. This provides a scalable, contemporary infrastructure base that will support our future operations, and means that we have flexibility/mobility options without needing to relocate or impact the infrastructure.
Products
- Work has largely been finalised on new releases of product add-ons:
- Wireless scanner inventory management on Android platform – in use. Compliments the existing browser-based application.
- New upgraded version/architecture for Clear Online sales (eCommerce – B2B & B2C). Implementation to first live site in June 25 qtr.
- Offering software via subscription (rather than license basis) – actioned.
- Work nearing completion on Clear Enterprise (V4) over new architecture – providing some database independence (e.g. MSSQL, MYSQL), plus 64Bit architecture.
Personnel
- Recruited Manager – Client Solution Delivery. Extensive experience in Tier 1/2 ERP application, cloud software delivery, project/support/service delivery. In addition to existing customer support activities and projects, will lead the program to upgrade the existing client base installations to V4, commencing and throughout the FY26 year
- Recruited new Principal Software Developer. Extensive experience in business software development, administration and wide-scale deployment. Has delivered first stages of the V4 architecture and is working towards delivery of the completed version.
Business Environment
- Conditions remain sluggish with Clear Objective’s customers feeling the impact of reduced spending from households in relevant industry sectors (Meat processing, food processing, blinds/awnings/security, flooring).
- Waiting to assess whether there are changes in business/consumer sentiment and investment processes pending the 2025 Federal Election, future interest rate movements, etc.
Activities/Plans – Highlights
- Clear Objective is focused on transitioning the business to a more sustainable and predictable cash-flow footing via transition to a subscription-based software revenue model, and expanding the service offerings to our customers to include IT functions that support the software indirectly.
- We have taken steps to reduce the cost base and resources to the level to support the existing V3 software while V4 is completed, and position for growth as the new software and services are brought to market, AND as economic activity improves.
- Bentleys Brisbane (Audit) Pty Ltd has been appointed as the company’s auditor to replace BDO Audit Pty Ltd. This change has been made as a result of Bentleys being able to provide the company with audit services at a more competitive price.
We hope this gives an insight into the various projects, priorities and activities of the business. We appreciate feedback and look forward to the prospect of you joining us at our Annual General Meeting when scheduled.