Ann: Appendix 4C - quarterly, page-4

I've spoken with Klaus about this topic.

The fact that Q1-FY20 receipts were a fair bit lower than Q1-FY20 booked revenue is another signal/hint that Q2-FY20 is going to be a big quarter, in which we should see a significant uplift in receipts collected.

The recurring revenue is all on credit and the billing cycles are not particularly frequent.

We know that $120-$130 ARPS/month is inbound on 2000 to 3000 sites across the next few quarters via the 3 landmark deals.

Thus, I think we can safely say that 1ST will be 'showing us the money' across the next few quarters, but by that time it might be too late to get in under 10 cents.

Good luck,

T.E.P.