Ann: Half Yearly Report and Accounts, page-19

It was good to see that the TCV did actually convert largely into revenue coming through the door, which was a big tick that I think we were all waiting for.

Unfortunately, for me, $9.3m in revenue (sales) with a cost of sales at $5.1m is very expensive, especially when you throw in $2.3m in employee "benefits" and $1.4m in consulting and professional fees. Despite the exponential growth in revenue, its resulted in a deeper loss.

The cash balances whilst comforting, rely heavily on raising funds, and I think this is going to continue with all the talks of aggressive expansion given how expensive it is to generate revenue.

I got out at the 10.5c level yesterday for a loss but will watch on from the sidelines to see if the company does fulfil its potential and would happily buy back into the business if it does.

All the best to the other shareholders, not down ramping the stock, just being objective. There are plenty of times when I have taken the exit only to see the stock pump for a while. GLTAH.