Ann: Q1 FY23 business update, page-37

Unfortunately nothing specific to share, but agree there is quiet accumulation going on and there has been for some time. This one is still well and truly under the radar. If it goes cashflow positive by end of June, the re-rate will be substantial. It is also a strong possibility that QuickFee is a tech takeover target, which would explain Thorney's substantial investment.

The AFR recently featured AW speaking on this exact topic, stating that Australian tech companies need to be protected from early takeover. He prefers they are left to realise more of their true value and not be snapped up for cheap, particularly in the current environment where the AUD has declined in value.