Sausage Software has finally halted its share price's massive slide with founder Steve Outtrim selling 25 million of his 49.9 million shares to Wayne Bos, a Melbourne-based owner of Technology Business Integrators, for 0.1 cent each.
Indicating that his specific Internet expertise was not enough to sustain Sausage's momentum, Outtrim searched for a buyer that could offer much-needed business savvy to the company.
Hoping to utilise the extensive contact base that Bos has built up, especially in the banking and telecommunications industries, Sausage is planning to develop e-commerce systems for the high-end corporate market.
The diminished worth of Sausage seems to be a secondary consideration for Outtrim who is focused on accumulating a strong market share and business reputation to replace the technical image that Sausage is renowned for. Only then will profit be consolidated rather than the whimsically quick $50 million that Outtrim personally made when the company was floated in 1995.
However, before these ambitions are realised there are several hurdles that must be faced, the most significant being the need for Sausage to double its current share price of 32 cents and sustain it at over 60 cents for 40 days. Otherwise Bos will not receive the full 18.2 per cent of the business initially agreed upon.