My concern is largely the the lack of revenue from reported...

My concern is largely the the lack of revenue from reported sources up and running. We should have seen a rise compared to Q2 16/17, given the presence of implemented arrangements with Citi, MyDATA and Legalinx. For example, it would be reasonable to assume that the MyDATA contract must operate on a per click basis, given that MyDATA simply acts as a medium to external users. To see no stepup in revenue is certainly concerning.

Further, I begun having concerns with Citi after the operational update on 18/12/17, when they said 'annualised' revenue would be $180k. This contradicts statements made in the annual report.

Specifically, page 3 of the annual report states:

“Group revenue grew 55% to $596k in FY17 with growth primarily attributable to the acquisition of Citigroup as a client during the year.”

Some back of the envelope maths suggests Group revenue grew by circa $200,000, largely attributable to the Citi contract, which began receiving revenues in mid February (and has grown in use since that time). This would suggest a higher annualised rate than $180,000. I.e if Citi was generating revenue for 5 months, and contributed e.g. $150,000 in that time, this would suggest an annualised rate of $360,000, (assuming there were no other large groups signed during the same period).

Additionally, it would appear from the same operational update that the bulk of the work relating to Elavon was completed in this quarter, with limited increases to revenue from the pcp. (Then in the most recent update, it seems works continuing?)

I certainly can understand the mis-timing of revenues, but after two poor quarterlies, I'm starting to doubt the 'clunkiness' of revenues as a legitimate reason for the slow uptick.