Ann: Quarterly Activities Report and Appendix 4C, page-33

@tinhat I'm a bit late to the party but a few things:

When in doubt about shares outstanding, look at the latest annual report FY20, granted this wasn't available at the time



I've found commsec, yahoo, asx all to report different holdings. Here's a few more to add to your list
marketindex.com.au, investing.com, **.st


Options makes up a unremarkable 14m:



So at 32.5c * 133m = 43mc, 21x topline revenue, it's a bit high, even if they were to double that next yr.
Also, all of the margin, got eaten up by their pay and fees:



And with a 9m cashburn and less than 1.5m cash in the bank, you can be sure of more dilution (= jump in mc) in the next FY.

If gross revenue hit 15m FY21 with a 50% margin, then they're almost break even with cashburn unchanged.

Lastly, there are great insights to be had here, along with emotional holders that defend their fav stock and everything in between. If you're smart, you will continue to contribute, gather insights and let non-constructive criticism slide. It's not worth the effort to get upset on the internet and will affect your objective goals to make money.

Thanks for posting your research.