Yes - you may be right. From what I remember, the SP usually...

Yes - you may be right. From what I remember, the SP usually rises in the lead up to each 4C - so it is a bit different this time?

Looking at the cash receipts over the past couple of years (which is obviously a very small sample size), there has been a few trends:

Jan to March cash receipts have always been the best quarter.

Oct to Dec receipts are always higher than July to Sept receipts (and July to Sept 2019 receipts were $310K).

Last year, Oct to Dec receipts were approximately 60% higher than the July to Sept quarter. This same 60% increase would result in the upcoming Oct - Dec 2019 receipts being around $500k.

Cash receipts went from $190k in FY 2018 to $850K in FY 2019 - an increase of around 347%.

The first quarter of this financial year (July - Sept 2019) showed cash receipts of $310k - which was approximately 287% up on the cash receipts from the same quarter last year ($80K).

From those numbers, surely we can expect receipts to be upwards of $450K in the upcoming 4C (which would be the best quarter for cash receipts ever) - especially with a few funds maybe starting to trickle in from the new revenue stream ($350k over 4 months / DpaaS I think they called it)?

But the slow SP decline recently is admittedly a bit of a concern.

Have a great weekend everyone.