Ann: Amendment of Betr Agreement ahead of Betr acquisition, page-38

Pasted straight out of the announcement - “BetMakers continues to be heavily focused on top line growth and cost reduction. The Company remains on track to achieve low double-digit revenue growth in FY24, and beyond FY24 we maintain confidence in delivering solid top line
growth, even in the absence of any ongoing betr platform revenue. We also remain on track to manage our cost base
to under $110 million in FY24, with further efficiencies beyond that possible as a result of the betr agreement changes."

We either believe the above statement or we don't and view Matt as doing little more than mirroring the previous management. There is strong inference within the announcement that BETR were struggling to meet the terms of the previous agreement and that Matt was pleased to retrieve payment of what was already owed. If that is the case any action to take action over even larger amounts is probably only going to destroy the deal with BBT and leave the outstanding debt and what appears to be a loss making deal as well as destroy any chance of any compromise deal at all. Matt would have to do the maths on what the announced deal is going to bring in the long term and what he was likely to achieve by destroying it. It appears that the maths on the compromise was much more beneficial monetarily as well as releasing the company from the restrictions which were in place as well as being able to redeploy their resources to better revenue opportunities. IMO management made the right decision for the long term regardless of the short term implications which I believe he has covered in the above statement anyway.