ixp sites, page-40

MM, I was working this out earlier on.

I have $5.2m from average TZ receipts

$2.5m from Coolfire

$700k from backlog

Also, in the Dec quarterly, it was mentioned that 40 PAD installations currently deployed or scheduled to be deployed. Well the map shows 17. Therefore, 23 deployments must have taken place by now. Ok some of that $700k backlog is for PAD. Lets assume 12 installations are not ie 12x $50k = $600k

$5.2m+$2.5m+$700k+$600k.

Total = $9m

Anything less than this means that the previous reports were BS or TZ has not been collecting cash for whatever reason.

Is TZ being played down? Perhaps TZ would argue that there has been nothing to pump. I would argue that didn't stop TZ in the months leading up to the AGM - Sky, AFR, etc.