Ann: Appendix 4E & Preliminary Final Report, page-7

Good, strong and detailed commentary.

As mentioned disregard the loss figure. It is one off and has to do with the RTO accounting.

Underlying EBITDA is the key - only a loss of $140k.

Revenue has increased 70% to $6mil.

I like the improved reporting around ARR (showing implemented vs yet to be implemented).

Strong flow of trade receivables due soon, including $750k in one off sales. Bank balance won't be as bad as it seemed at 31 Dec.

Negotiations re initial PaaS finance are in final stages. Along with this, "The company is confident it has sufficient internal liquidity in place to support growth initiatives." IE they don't see a need for a cap raise.

AUS trial site is moving to contract stage.

Weighted/discounted (IE Conservative) sales pipeline of $41mil in TCV. Very nice.

Lots of positives and some concerns I had have been alleviated.