Ann: DUB Selected for BroadSoft Business Unified Communications, page-15

Based on theirPreliminary Final Report the math has changed significantly since DUB listed. Their per user revenue is significantly less than their project $10 p/user per month ($120 p/year).

Earlier in the year they stated 13,000 paying users. But they generated only $510K this FYR, this averages out to $39 per user per year.. ($510,000 divided by 13,000 users)

Is my math right?
Note. $1.459M of the $1.969M revenue was from R&D Grant, not user generated revenue. (See Page 3 Preliminary Final Report - line item 9a)

If this math is right, then:
- Current cash-burn is Approx. $10M per year
- At $39 p/year they need 256,410 users to break even.

Currently they have 13,000 users.

Could they onboard 243,410 more users in the next 24 months?
This is the $6-10M CR question.

If my math is wrong, and they really are getting $10 per user per month = $120 per year, then their previous announcement of 13,000 users must be incorrect.

But I don't think the math is wrong? $510K / 13,000 users = $39 per user per year.