Ann: Quarterly Business Update FY 2020 Q3, page-3

Nice dribble overall.

Update confirming continuity of loan facility - this is good.

Taking proactive steps to minimise exposure to surburban / single shop firms and mitigate default risk - this is also good.

Early signs of increased interest in payments amid Covid-19 - to be proven in next quarter’s lending figures, but right now this is good assuming the US team continues to execute and capitalise on it. I can see that Kennedy has been beating the drum eg at recent Maryland’s CPA virtual get together (QFE sponsored).

Cash balance and cost control not disclosed other than loose reference around ‘strong balance sheet’ - so so given top line still growing in both AU and US, need to be kept watch going into next quarterly.

Major firm signing - bonus, keep them coming.

Some additional material validating the expected decline of paper checks in the US generating platform transaction volume for QFE:

Crowdfundinsider
https://www.___.com/2020/01/155875-us-based-companies-still-using-slow-inefficient-paper-checks-to-settle-b2b-payments-report/

Medium
https://___.com/wharton-fintech/why-checks-still-exist-and-the-state-of-b2b-payments-b41f3cddea9c