Ann: Quarterly Activity Report and Appendix 4C, page-11

Well, it depends now on growth. If IP1 were to just coaster along I would imagine they could conduct business "as usual" indefinitely as they are nearing cash flow positive.

We know very well IP1 are not going to coaster along as they wouldn't have stated picking up Westpac's QuickSuper clearing house.



There will be expansion, IMO, once they bed down the BOND PLATFORM and transition all employees, employers, payrolls and superannuation funds onto the 'ONE PLATFORM' as stated in the quarterly update.

24 quarters is 6 years, right?

6 years without the need for a capital raise unless for a major acquisition or expansion, I would imagine!



AIMO - GLTAH's



Jocko