Ann: Beam Profit Update January 2023, page-24

I'd suggest it is nothign more than disclosure so when they are aware EBITDA has materially changed they need to inform the market, this likely came as they are compiling the 4C and drafting half year financials, it would be a breach of duty to sit on the material guidance change for a week or more and not update the market.

MC and Beam are very responsive to questions, I have enquired and been told the latest market update and as was noted in the investor call around CR has not changed, which was no CR needed aside form if a comelling an acqusition prospect comes to hand.

My vibe is there is not going to be an acqusition anytime soon also for what it is worth, particularly as the company if flying organically, I do agree December 2022 cash may not be that strong but the $11-12 mill of orders for this quarter require cash outlay to procure resources, build product and prepare for sale plus normal trading terms which can be 30-60 days. I'd expect March 2023 to be quite strong on a cash flow front as it all floods in and now we have estalished this higher level of sales we should have a steadier cash flow pipeline as the step change stabalaises to some degree. Also Certus and Zoleo Subs making up more of the sales mix should provide rgeater margin there. If people can't see this I do not mind this as it is a chance to top up - the PAC Partners updated report may also be good to visualise the gravity of yesterdays announcement also. Plus any Zoleo lower margin orders let's not forget are not being done for fun, they are going out to the public who are subscribing so any perceived negative impact there is only adding to the strength of the transitional plan to higher margin subscription revenues.