Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-17

1. Revenues - yes has been increasing, but more than cash receipts (here there is a closer link), but we are long way from the ACV (below in USD)
2. TTM Cash receipts - actually fell this quarter, but perhaps some of that 3.4m last quarter was early collections
3. Gross margins - you can see below if I do a similar TTM on Net Operating Cash , things marginally improved in between 3Q21-3Q22, but the cash outflows are seemingly getting worse (incl when they had that 3.4m collection.....seems like their staff costs blew out that quarter so you have to wonder why it was not cashflow positive in 1Q23). This quarter, the 'Product Manufacturing' line went from ~200k to ~900k with their explanation being this was AWS hosting costs.....so again I have to wonder what their true margins are if the 1.9m cash receipt covered a decent amount of 3rd party costs

Look I'm still holding like many on the basis of something changing (3 yrs since my purchase), but the point is that it seems unacceptable to me that mgmt of a company with $3m in the bank are not paying attention to invoicing these multi-billion dollar clients who seemingly have critical services being provided. Either mgmt are lax (again unacceptable IMO if you need to pay your employee wages and/or expand your offering for other clients who are waiting for a rollout), or they are not being totally honest as to how much they can charge their clients and how much it actually costs them to provide this service

		ACV (USD)	Growth			Cash Receipts (AUD)	TTM (Cash receipts)	Growth	Net Operating cash	TTM (Net operating cash)
1	31Oct19	1,660			1Q2020	306			44
2	31Jan20	1,900	240		2Q2020	185			-787
3	30Apr20	2,160	260		3Q2020	532			-297
4	30Jul20	2,870	710		4Q2020	820	1,843		220	-820
5	30Sep20	4,930	2,060		1Q2021	609	2,146	303	-333	-1,197
6	31Jan21	6,880	1,950		2Q2021	635	2,596	450	-231	-641
7	30Apr21	7,890	1,010		3Q2021	1,374	3,438	842	211	-133
8	31Jul21	9,800	1,910		4Q2021	1,453	4,071	633	98	-255
9	29Oct21	11,700	1,900		1Q2022	983	4,445	374	-931	-853
10	31Jan22	14,400	2,700		2Q2022	2,849	6,659	2,214	800	178
11	29Apr22	16,300	1,900		3Q2022	2,360	7,645	986	64	31
12	29Jul22	18,200	1,900		4Q2022	1,661	7,853	208	-1,387	-1,454
13	29Oct22	20,130	1,930		1Q2023	3,411	10,281	2,428	213	-310
14	31Jan23	??	?		2Q2023	1,962	9,394	-887	-977	-2,087