Ann: Debt Restructure and Half Year Presentation, page-30

Hi Guys,

As promised I visited the Gold Coast, Surfers Paradise location. I decided to book a four person experience and took my two boys aged 16 and 10, plus let them invite a friend each. I was keen to participate but more keen to get feedback from four people. for disclosure purposes I will add that I have only really acquired stock in the last four weeks but have a position that I am happy with with no real intention to buy more at this stage. To make it easy, here are my bullet points:

1) Booking online was easy, nice email to confirm.
2) Not easy to have an online chat through their website because there was nobody online but I got a message saying they would email me back, or to speak someone at the location to find out more before booking. This is an easy fix and I have messaged them to provide feedback.
3) Gold Coast has IFly and Freak but would be classed as a 'baby' location.
4) Clean and nice premises. I am not a fan of Surfers Paradise
but this place was a nice location close to an inexpensive council car park and a free one at a shopping centre.
5) Ifly is clearly visible from the street so you see people flying as you go past.
6) Staff friendly, helpful, well presented
7) Comfy seats for parents to watch the VR on screen next to where the kids participated
8) The VR experience was different to what spectators see because participants see "outwards" whereas we see "in" and get a Birdseye view on screen while the kids were in a area about 5m away.
9) The characters in the activity - such as the zombie apocalypse appear like real people while on the spectator screen look a bit more "grapicly". This was actually good because when he talked about it afterwards it was great for the kids to share their experiences - which they did for about 90mins over lunch!
10) Our kids did Ghost Patrol designed for ages 10+
11) They all loved it. Beforehand the kids rated a movie experience where they get to watch the best movie they have ever seen as a 7 out of 10. They rated this a solid 10. The kids enjoyed it more than the cinema, bowling, escape rooms
12) Apparently after the first visit you get about 30% off your next booking. We will definitely do one again
13) Apparently school holidays it's been booked out
14) Cleanest customer toilets I have seen in a while
15) During the game the kids we full of wow! Oooh! This is amazing! Whhaaaattttt! Giggling, laughing, talking to each other through the headsets and occasionally the controller giving them guidance
16) Staff seem very positive- appears to be a good culture
17) Ifly was way more popular than I appreciated with flying schools where people visit on a recurring basis to perfect their flying, including groups of kids
18) Safety for the VR and Ifly appeared to be excellent s. I work in risk and insurance so am fairly familiar with what to look out for.
19) The experience doesn't end when the game finishes. It literally carries on for at least an hour afterward so whilst games aren't as long as a movie, the talking about it afterward makes up for it.
20) They Had pensive merchandise for sale but only pictures available for the Ifly experience. I think if there was a way of providing in game photos or video clip to participants that could be really cool. Particularly if there was an opportunity for participants to Scherret on social media.
21) This definitely is not just for kids. I think at some point I will organise quite a few friends to go along. It's probably a good corporate event too and think at some point I will organise quite a few friends to go along. It's probably a good cool pretty vent to and makes a change from drinking alcohol. and makes a change from drinking alcohol.



Opportunities
1) Improve the phone and online chat service
2) More games to keep regular visitors coming back - which they do
3) Expansion - They likely need a bigger venue, maybe even more venues on the Gold Coast alone Roll out of many locations with staff from existing locations going to manage them could be ideal. Apparently three people manage the overall GC experience so if two could be redeployed and train two more they could send two to other locations.
4) Additional activities - one of the guys shared with me what they had in Sydney and their plans to offer similar soon which they may need more space for
5) If they need access to more capital to make the most of opportunities then I hope they access it

I would love to know more about the expansion plans and how it can be funded to roll out very quickly. Whilst we had a great experience it's really important to note that there are many factors that contribute to this being a winning investment. They are ticking the boxes on those things but it's important to remember that Galee access to activities, which they seem to have mastered and insuring a pipeline of them continues to gain repeat customers for years to come. I think the likes of Westfield would suit them but they could go anywhere. I think being able to have a drink or bite to eat afterward allows sharing of the experience so being part of an area with dining works.
Please feel free to post any questions if you have them and I will do my best to answer them.
please feel free to post any questions if you have them and I will do my best to answer them.

Thanks,

Alf