Ann: Appendix 4C and Quarterly Activity Report, page-8

Management have an air of confidence about them with quite a few prospects for new licences with banks in the running. These sales take a long time to settle and then there seems to be 6-12 months fitting the dashboard into a bank's platform.
There seems to be confidence about raising more funds in the near future. The extent of dilution must be a concern all the same, with the continuing deterioration in the SP. They refer to 2+ more years of cashflow deficit and with the suppressed SP, I doubt if they will seek more funding than they need beyond the immediate 12 months, in the hope that the SP will be at higher levels for subsequent placements.
I note the wide ranging geographies for the current prospects and partners and clients with upfront development (USA, Singapore, UK, Europe, NZ). The amount of international travel must be costing them plenty with business class for senior managers.