Ann: Half Yearly Report and Accounts, page-2

As foreshadowed the revenue decline continues but there is a small increase in profit. This represents part of the strategy to "adapt the organisation to its revenue base." I believe the customer base has now stabilised at just over a 20% market share following the loss of some pharmacy groups including Chemist Warehouse who have developed and progressively rolled out their own dispensary software platform. Corum's cash bucket has only decreased slightly following the recent R&D tax benefits so not a bad position considering a $2m spend on R&D/Product Development. So Corum is essentially funding new product development out of current revenues. The large proportional spend on R&D should decrease in FY19 and along with other cost reductions provide improved profitability expected.

The roll out of new products seems a bit behind schedule but it is important to perfect these before general release. So we have to wait a little longer to see any increase revenue and satisfactory return on investment from them. The position is that investors now want to see a turn around and will not tolerate any further revenue decline taking particular note of the statement;

"Corum is working on specific opportunities for future growth and will advise the market further at the appropriate time."