Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-14

I know everyone is going on the basis of ex ZIP guy turning this thing around. So let's exclude USA for the moment and look at their general business. For all their talk of new business, etc, the fact is the company ran a loss of $1,634,000. They got a dividend payment from IDSB of 328,000K, so bear in mind, once IDSB is sold, the dividend disappears also. They had to get people to buy the SPP or they would have run out of money. Every quarter this has been the same story. Current business revenue can not support the current costs.

They are showing estimated quarters of funding available as 0.23. I know that does not include the money raised from the shares just sold after the failed SPP, but based on current losses, that will be gone by the end of this quarter on current business operations.

So now we move to USA. OVT will be sitting on $13M AUD approx once the sale goes through. Let's just take the first six months after that. Firstly, the loss for those 2 quarters (if equivalent to the one just shown will be about $3.2M. So from your $13M AUD you now have a little under $10M. I haven't factored in that in that six months you'll be paying the new CEO close to 200K and any other staff he brings over.

So, with a bit under $10M, they are going to launch into the USA market for BNPL. That $10M will pay for office space, staff, money licences, advertising, etc. Everyone compares it to ZIP, which is turning over $5B. OVT, in six months, how much will it turn over??? And would there be any positive income?

Bear in mind at the AGM coming up they have already put in the agenda for a vote on additional 10% issue of shares to be made available. So additional dilution in next year of at least 500M shares. They say they'll be using the IDSB funds to soften the blow of going into USA market, but with no supporting income from the current business, how long do you think that will last and how much do you think they will need to keep the lights on.

I know it's trading on FOMO, and everyone keeps comparing it to ZIP, but OVT is already valued at $60M for a loss making business. For those in on FOMO I hope it stays strong for you or this could get ugly in the next 12 months for some people.