Ann: June 2021 Quarterly Report and Appendix 4C, page-2

Next 6-9 months are going to prove if management are full of sh1t or not
Acquiring the most popular VET provider would give it the most cross selling exposure. Focus on that, get it done ASAP and capitalise on the cross sells.

This entire year can’t be viewed as positive from a $ viewpoint seeing as we’re in the same place as last year but only there due to acquisitions! Cosamp would have offset the reseller revenue loss.

The reseller loss was touted as insignificant to the bottom line due to low margins in the last announcement, so not sure why they didn’t mention that this time.

We haven’t had cosamp and Ripponlea onboard for long, so this year is the first year we’ll be able to see the cross sell come into play if at all.

With 6.3m in the bank, +ve EBITDA, expected $9m+ revenue FY22, in a defensive market (to abate market instability fears), a 38.5m market cap, there’s certainly enough keep me around but patience and credibility are toward the end of their tether for me.

I think it’s a hold because I believe that economies of scale are set. I think that predominately any additional revenue put on now will mostly hit the bottom line. That’s the only consideration that can make this year a positive, is if they set the fundamentals to scale now.

Big FY22 ahead