Ann: NNG Quarterly Activities Report and Appendix 4C Jun-23, page-3

The problem with the 4C is it doesnt show the balance sheet. The 4C for June reflects us tidying up the payables we had hanging over from H1. R&D is synthetic but its not dilutive either so better to use it than not. Cash is tight which keeps everyone sharp but not the complete distraction that it was in Q3. The deck released last quarter shows a profit, albeit minor in FY24 on the run rate we have and more if we close some larger deals. Thats still the plan. Q1 is looking good re the regular run-rate revenue ticking up. We have to close some IBM software deals and when that starts to work, the outlook will change dramatically.