Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-2

Better than my expectations given rising costs, inflation, new staff hiring, new QLD studio. I saw they celebrated their 200th employee the other day.

Staff cost was up by approx. $800k in the quarter, going from $2.2m to $3m. Admin also went up. Glad to see marketing & advertising almost halved, down by approx. $1.3m, and revenue still grew strongly, might be an indication that all the money spent on sales & marketing has started to pay off.

Generated $6m in rev and only collected $5.39m in cash receipt for the quarter. Maiden negative operating operating cashflows of -$37k is a good result imo. The timing of cash receipt is probably delayed by end of financial year etc, who knows.

Unaudited rev of $29.2m is in line with broker's forecast. Take out $8m from the Beans, that's $21m normalised rev. FY21 rev was $10.9m, so normalised revenue more than doubled vs last year, which is a great result. Better off, it's all organic growth rather than via mergers and acquisitions.

Glad to see PLY revealed for the first time the WFH backlog in dollar amount. $15.6m is a good number.

9 mobiles & 3 PC games to be launched in the future => to watch.

A new NFT collection to be revealed in Q2 FY23. Not much hope on the NFT market atm but if it arrives at the right time, possible winfall.

Overall good results in this current environment. Onward and upward.