Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-23

This is all good aside from the fact the net loss was $700,000 ! Seriously I cannot work out why the opex is so high ?

1) R&D and product “ manufacturing” costs for the quarter $500k for a tech platform !! What do they need to manufacture here ?

Plus they only have 700,000 active subs who have mostly signed up for the free trial .. don’t understand .

2) Marketing expenses $496k !! This amount to get 700,000 free trial subs ! Where are the serious contracts that will bring in real revenue from this expense .

Shareholders don’t want to see an Increase justified but only one off monthly subscriptions, derived from people who signed up for free , but forgot to cancel their card details before the trail ended ?

However it’s important to make the quarterly look better then normal for the purpose of raising capital I suppose .

3) How can the corporate costs be $295k and $300k each quarter ? There have been no capital raising programs recently ? So they are paying someone $25k per week….. for what ?

The stock price has gone down , no meaningful contracts and no more cash in the door ….other than selling the silverware stock holdings .

The “mirror maze” from the board will become an issue when smoke begins to fill it that’s for sure .