Ann: Investor Webinar, page-23

AF seemed more agitated than usual responding to investors valid questions around cap raise & options. Cash receipts are the key metric at the end of the day for investors. Fantastic that payments increased from 16.5M to 22.5M, lending yield for march was 24%, transaction values up 549% & customer growth up 11%. However, investors are unaware of Spendas margins relating to transactions & lending, as well as not being able to see cash owed that may not be received until end of month plus 30-60 days as AF stated. Monthly updates would be a great idea until CF+ however, that would also increase operation costs. Investors need to see that increase in cash received in bank.