Ann: Appendix 4C - quarterly, page-4

A loss is surely no surprise with E88. They have burnt $21.7m in the last 4 quarters! I don't have enough Kleenex to look back further.

I hate saying this, and Stweeve is right, this is the Hound of the Baskervilles, but revenue is actually better than the last 2 quarterlies, back above $30m for the first time since the Dec 14.

However staff costs are on the rise again to 16% of Revenue and Merchant Payments are 88% of Revenue. In Q2 (Dec Qtr) Staff costs were 13% and Payments to Merchants were $80% of higher revenue.

E88 management has never been able to control either of these costs to produce a profit and they have a windfall in the exchange rate to help.

When I look at the Director's roll I see some pretty sharp cookies so I wonder why in 2 years they haven't been able to come up with a plan to increase revenue and manage staff and suppliers? It's not like the fundamental problems here are macro, they'd appear to be fundamental to the business.

@trythree ????