Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-12

Great result for shareholders.

• record quarterly sales of $1.8m
• cash receipts in line with sales when you take into account greater than $300k receivable from Coles.
• total expenses 25% increase vs 60% increase in cash receipts over last quarter.
• Inventory build to $1.3m over quarter, full inventory amount held at the end of the quarter, and sales growth anticipates inventory build to continue to grow to $1.4m this quarter (this is very good).
• Advertising and marketing expenditure tracking at 17% to sales growth, similar to last quarter. This means our marketing is a tight ship and has extreme value for money.
• Coles expanding due to wider uptake.
• new team members joining the eCommerce team in Australia and the Quality Assurance team in Fiji. Building the team by excess demand is a good problem to have.
• consolidation in Australia, with new lifestyle products over the year.
• very exciting year for US growth, with the company set to announce something major with flavored RTDs in the US towards the end of this year.
• we are on top of the massive growth, no hiccups in the supply chain like 2nd Q24, which is great management.
  

Overall, we are still trending higher experiencing massive growth and remain lean, efficient and on track to breakeven in 6 months' time.