Ann: Appendix 4D, page-3

Excellent result - My own key breakdown

Revenue
- Revenue from continuing operations as $536k after two months since acquisition (straight line annualisation would have the full year result at $3.216M matching Baillieu Holst's report estimate of $3.2M [Note: Baillieu would have not included the months before the acquisition in this estimate though as I did. However, it appears revenue is on track with current growth profile])


- Revenue primarily derived from Dash Digital as expected. Velpic growing strong with revenue $72,650 from two months.

Expenses
- Net loss after accounting for non-reccuring items was $642k (all related to RTO)

Cash Flow
- Cash burn was high but should exclude non-reccuring items (all related to RTO)
- Adjusted cash burn from operating activities was $849k (on target with Baillieu Holst's research report cash burn target of $0.3-$0.4M per month [Note: first months were always going to be highest cash burn as figures will decline as revenues grow).

- Cash received from operations was 71% of revenues.

Summary

Everything is on track which is the absolute most important thing. In my opinion the real risk of this company is the cash burn (I really do not want a second raising) but I am very satisfied with the way things are tracking!

Excellent work to the team!

Excited to quietly read all your own opinions on the result for the rest of the day. As expected nothing new necessarily from the quarterly but good to see the Directors have a tight grasp on managing a business.

Here is to a fantastic SME launch and continued prosperity for all!