Ann: 2022 Q1 Quarterly Activities Report and Appendix 4C, page-7

The outsourcing business (Rimab) will not excite the market too much. Imex needs growth in Software sales.

Imexhs generates revenue from Business to Business sales (B to B) of both software and services. Back in March 2022 they delivered their 5 year strategy.

In March 2022, Imex called software sales "order generation" (unusual terminology). Anyway Imex software sales has been outsourced to various partners. This can be a cost affective way to increase revenue (reduced fixed costs) and an effective way to enter new markets.

Based on the results these partnership agreements are not working but it is early days and we need to give it a few more quarters. Really need a significant improvement in the June 2022 quarter.

When I look at the 5 year strategy it just looks like Imex are trying to do so many different services and software offerings (makes me concerned about the focus). However, I am sure someone is focusing on software sales and we will see this improve.

Once, Imex are getting 50 to 100 contracts per quarter (at $20k+ per annum) the share price will be fine.