Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-4

@mikebrissy, your post caused my to go back and look at the reasons why net operating cash outflow has been increasing, instead of what you would expect of a scalable business.

My conclusion is that the scalability is hidden by the rapid growth in Staff Costs and Product Manufacturing & Operating Costs, which have each grown only slightly less than the rate of Receipts from Customers, but which together greatly exceed the Receipts. I view this as a very justified investment in growth (even though it is not traditional investment onto the balance sheet).

I also have no doubt whatsoever that DUB will soon benefit from platform scalability, and demonstrate rapidly improving margins, as revenue/receipts continue to grow at >100% pa, while costs start to stabilise.