Ann: Profit Guidance, page-4

Hi mate, thanks for your comments.

This is a huge drop and I can only infer market concerned this will be a permanent drop in royalty revenue of 3-400,000 per year (based on drop for this FY).

Pardon my ignorance, but how are you arriving at this? Is this simply annualising the $100,000 reduction for the period between the commencement of the Ukraine conflict and this reporting period?

Of course costs have/are rising and this is a company that is frustrating in terms of its (lack) of communication with shareholders (see today's announcement and numetous announcements with misspelt emails).

Given the business' recent re-weighting towards service and licence fees and royalties, away from sale of goods, how big an impact do you think possible rising costs may have?

Regarding communications, I'm personally a fan of their getting on with the business of getting on. Whilst some may prefer to be informed more often than not, I'd prefer to only get pertinent announcements rather than mere puffery some other businesses often get involved in.

But still, is a drop in royalty revenue ($732,000 for six months to December) explain today's drop and bigger drop of late? Interested to hear others views?

I can't speak for others, but I think there are a group of holders who don't like the fact 4Cs are no longer necessary, and that radio silence coupled with yesterday's bad news - which I don't personally think is actually that bad (we're talking 5.5% for total revenue, based on the 6 months to 31 December 2021) given the context. I must admit that I've had some unavoidable costs come up, and I've been a forced seller over the last week, though I still retain a position in DDT as part of a concentrated portfolio.

If I had my way, I would've been comfortable to continue accumulating.

How many other tax advantaged businesses that are profitable, without debt and a reasonable cash position are out there to invest in, providing an earnings yield of say 16% (at 0.6c)?