Ann: Tempo Finalises Contract with CBH, page-6

Estimate the new cost base to be $40M in revenue to breakeven. Incremental EBITDA margins at 15% - 17% on TC's numbers if the cost based is assumed at $40M revenue. So contract wins are clearly the path to profitability. Management is clearly focused now and have a path to profitability. How quickly they achieve only time will tell. On these numbers as they scale up to $100M of recurring revenue we will see $9M of EBITDA. Guido's $10M in at 25 cents has been flattened to $3.6M in a relatively short space of time so incentive there for him.