Ann: Skyfii Quarterly Business Review and Appendix 4C, page-21

Yes, those circumstances were reflected in the share price, hence making it 4.5.

If I have contracted revenues of $1,000,000, but provide a 'contract pause' facility to 75% of my customers, that means I'm only receiving 25% of my revenue. So on paper, a business acquiring me sees that I have $250,000 in revenue for the financial year, but another $750,000 as 'deferred payment'. Therefore the Revenue to Valuation multiple will be significantly higher than it should.

Here is the summary of Director share-based payments for the past 2-years. It equates to $450,000, where did the other $5m come from?