Ann: AGM Presentation by CEO, page-7

I'm by no means a boffin. But my back-of-envelope calculations based on the slide on page nine; suggests: -

MMR growth of 33% over the first four months from $565k to approx $750k (annualised growth of ~234%?).

If it keeps growing at this rate then at end of FY17 we should be at around MMR of $1.324m?

Cash burn now down to $300k per month.

(if the blue line represents number of customers - then this looks to have stabilised and now growing again). Perhaps a U.S. elections/Trump blip - i.e. corporations putting off HR projects/new hire decision making?

So in my eyes the gap is closing. And management now re-focused on core growth. Gut feeling is we've just hit a speed bump - but the market is still yet to realise.