Ann: Investor Presentation, page-10

I note net debt is down from $14.8M end June to $12.5M end September so they have made some progress on debt reduction.

It is a concern to me the re-financing was all about funding growth, but 4 months later they have started a cost-cutting effort - mixed signals there.

Q&A revenue seems to have plateaued, but is the smaller business - getting Track on track is still the key, along with debt reduction. Acknowledgement of revenue flows from Track acquisition were unsustainable, happening so soon after acquisition also suggests to me that Track vendors saw that coming but Dom & the M&A team didn't - so they (we) overpaid for that business.

Cheers, Sharks.