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

KEY FINANCIAL HIGHLIGHTS DURING THE QUARTER

• The Group recorded revenue of $916k in the September quarter – an increase of 70.9% over
the prior quarter and representing 18.4% revenue growth on an annual basis at the end of
September 2023.
• Sales momentum continues to build ahead of the planned pilot release of “NS2” which will
open new revenue streams for the Company and provide customers with a rapidly scalable
platform.
• At September 30, 2023 the Company held $2.3m cash at bank following receipt of a $960k
advance from Radium Capital at the end of September 2023. The advance provides earlyaccess to funds expected to be received in relation to the Company’s Research and
Development Tax Incentive (RDTI) rebate for the year ended 30 June 2023.
• The Company announced in July/August 2023 it had raised a combined $2.25m (before costs)
via a placement to sophisticated investors and a share purchase plan. This additional capital,
together with the Research and Development advance will ensure the Group is well-funded
to continue its growth strategy.