Ann: Thorney Presentation 2018, page-4

I'd actually consider $3m per month as being excellent considering historical net operating cashflow (cash flow after loans advanced to customers). There is only one half over the last 3 years (1H17) which has exceeded $3m per month. Most halves are around $1m per month or less and 2H18 was actually positive (i.e. there was an increase in cash during that half after advancing loans to customers).

		1H16	2H16	1H17	2H17	1H18	2H18
1	Net Operating Cash, Before Loans Advanced	$  14,821,000	$  13,347,000	$  19,323,000	$  25,327,000	$  20,658,000	$  30,889,000
2	Loan Principal Advanced	($21,364,000)	($17,635,000)	($ 46,697,000)	($ 27,692,000)	($28,507,000)	($27,619,000)
3	Net Operating Cash flow	($  6,543,000)	($  4,288,000)	($27,374,000)	($   2,365,000)	($  7,849,000)	$    3,270,000
4	Net Operationg Cash flow (per month)	($   1,090,500)	($      714,667)	($   4,562,333)	($       394,167)	($   1,308,167)	$        545,000

When you also consider the record revenues, cash collection, and loans advanced during Q1 FY19 (refer to slide 9) then this is all extremely positive.