Soap Box, page-175

Last two Q2 results have been 50% (0.9M v 1.4M, Q1 v Q2 21) and 100% (2.3M v 4.6M. Q1 v Q2 22) when comparing Q1 v Q2 revenues. It would obviously be a relatively large stretch to say that we hit the midpoint of these values here, where Q1 23 was 4.1M, so a 50% to 100% increase from there would be 6.2M to 8.2M Q2 revenue. In which case ECS would be exceptionally further undervalued than where we currently sit.

Expecting the results to drop next Mon/Tues as 16th of the month seems to be the norm. We’ll get an idea of market expectations on results if we see a move north in the SP this week. Otherwise if we’re still around 2.3c come Monday, market may be looking at a much slower growth in revenues than historically.