Ann: Quarterly Activities and Cashflow Report, page-142

I said I was going to start commenting on the quarterly report, so here goes with what will be one of several posts.

The revenue figure was disappointing to say the least. Showing growth of just 11.12% quarter on quarter in A$ terms or 13.23% in U$ terms.

I want a CEO who tells it as it is, not one who tries to dress mutton up as lamb.

If these truly were Gary's own comments then he has a massive amount to learn when talking to Investors, or he was badly advised.

No CEO in there right mind would refer to such anemic growth as "highly pleased"  

If the company really is so pleased with such a result, then it doesn't say much as to its future ambitions does it.

How on earth can you be so please with such an anemic result on the one hand and just 6 weeks early tell investors on a Q&A call that you believe the company can have a $10 Billion valuation ?

Have you tried projecting forward at 12% quarterly growth to see how long it takes to get to $1B of revenue, yet alone $500M of actual profits.

That's the road to losing credibility with investors end of story.

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Next, has anyone actually tried plotting the "9 straight month's of increasing revenue" ?

I suggest giving it a go ......................... (don't worry too much about the 1st 3 months the last 6 show the trend)

It's the first time the company has let the cat out of the bag (queue picture @Awoonga ) regarding revenue. Too keen to dress up the mutton, they never thought anyone would actually go & dissect the statement ..................

Ok it doesn't actually show where the revenue came from which sadly is what the company has been terrified of showing us, but it does show just how little traction & growth has been occurring for quite a few months now.

For those who can't be bothered to do the plotting then the 6 monthly figures will look something like this (I've done it in A$ for easy rather than US$)  138k, 144k, 150k, 155k, 160k, 165k (for the record there is a tiny bit more growth in US$ as the exchange rate at end of June was 1.30069 dropping to 1.27641 at the end of Sept).

There is little room to waver from these numbers and get to the officially released quarterly data on page 3 (in the chart).

LOTM