Ann: 2019 Annual Report, page-28

a) 39.2K to 43.6K - sales cycles are measured YOY (year on year) not quarter to quarter. It doesn’t give a good enough comparison due to seasonality

b) “need a raise due to cash burn and final Wizdom payment” - well their final cash payment is $4.9 mil on the basis they have doubled their ARR. I believe they can easily accommodate that. As for ‘cash burn’ (without any further detail) it always makes me sceptical of a persons intentions and discredits their argument as I see it as a buzz word that is thrown out there. For me cash burn translates to “wastage if cash”, if the company is growing and capturing market share, aside from the directors trigger happy payments, please outline in more detail where you see “cash burn”.