Ann: Business Update, page-20

What I see is a lot of cost reductions. Large reduction in staff, which in my opinion is not a bad thing. Everyone was complaining we had too many people - so now they have cut it to a realistic amount - and some people are now not happy. They'd prefer to see us doing hew hires. I'd prefer us to get some sort of grounding of where we actually are and then move on from there.

BNPL is dead and buried. Still think it could have been made a go of in Malaysia, especially considering the extra credit checks we were doing, compared to someone like ZIP who just keeps bleeding because they approve almost anyone. Needless to say BNPL is on the nose, so removing it is probably a good thing. Can we white hat it? That remains to be seen.

iSentric/datamorph just ticks along. IDSB dividends still coming in. Really need audited accounts to understand where all the cost cutting puts us in relation to actual income. There are obviously costs ongoing in regards to trying to recover stolen monies. Where that is at is anyone's guess.

Obviously 250m stock dilution is not good - especially if offered to sophs at 0.01, but if it is a choice of closing shop or doing the stock offering with a chance for trading later on, I will take the latter.

Still too early in my opinion to understand exactly what we have, but I am pleased by the cost reductions and hope they can bring forward a business plan for moving forward soon.