Qonnectis plc......monitor the rise!

Browsing through the Annual report which arrived in the post this morning, I remain concerned that, given the size and quality of their customers, the turnover remains so low. It is consistent with the £50k contract being so significant as to warrant an RNS but really puts into perspective just how far this company has to go even to justify its current £1.2m mkt cap.

Either they are giving the technology away or penetration and utilisation is minimal. I rather favour the former as payback to NHS Gwent, for example, would appear to be several times over per year rather than, perhaps, the other way round. And having been so generous, how do you claw it back? It seems to desperately undervalue the product.

Despite slow progress, the company has always given me the impression of being especially careful with its money, almost too careful. Is it not a little surprising therefore, that the board sees fit to award the ceo with a 40% pay rise (that's 25% of the turnover!) over and above a not unreasonable package, while the company is still losing that turnover 8 times over?

Or should I apply for the role of Scrooge in one of this year's presentations of 'A Christmas Carol'?