Ann: Commentary on Preliminary Financial Report - FY2018, page-6

Love the positivity in this announcement however lets look at what has happened over the year to date:

- Why have they not announced user numbers? ... is it staying low?

- Revenue up to $5.2m from $2.5m = $2.7m increase ... (Yes but ....) 
.  ---- however this includes the 350k users for 6 months that are no longer with us.  Using $0.90 per user per month equals $1.9m rev no longer there
.   ----- Management have announced that they will lose 100k website back up by April this year so 8mths revenue @ $1.15 each = $900k is gone . 

Just these two items reduces revenue by $2.8m in the next year ...So the $5.2m less $2.8m = $2.4m starting base revenue in 2019

This will then impact decrease cash receipts, decrease cash in bank and lncrease the loss...

Yes this will be offset by new clients coming on however it will take time.  For Mgmt to just paint a picture with rose coloured glasses is not right to potential investors nor current shareholders.

Yes I sound like a pessimist but I want this company to succeed. Mgmt needs to keep the investors informed and if the Board is not doing the right job then get a new one. Review everything about the Board (Chair, NED's) and see what else they are doing.  If on other Boards how is that company performing..

At the end of the day product is sound but there are a lot of questions in my mind.

DYOR