Ann: Update on USA Operations, page-13

Wow, that's very positive news. The highlights for me include....

1) Annual Contract Value in excess of US$6m (after only 6 months since start up). These US contracts are not discounted. By my rough calculation that's already approx 15% of total BIG revenue?

2) A SaaS billing model "making it easier to on-board customers and facilitating faster growth than that experienced in Australia". Also this method doesn't include any deferred income so will help FY18 accounts 'look' better.

3) Operating costs at approx US$100k per month / US$1.2m annualised. Seems like the US contracts are at a good operating margin (they can make use of Australian production facilities, so the US costs are lower).

4) Negotiations to secure US sponsorship & Partners options to further monetize the offer and increase cash flow.

5) "Established sales operations in Texas and plan further centers in California and the East Coast" so potentially at least US$12m annualised from those 6 months after their setup)