No time this week to go over in fine detail but this is what...

No time this week to go over in fine detail but this is what jumps out at me.

$15.4m reported revenue (and that includes the acquisition)
$2.6 of that revenue is one off including R&D grant (our taxes at work)

Take $2.6 out of the final result and it's horrible.

Leaves you with $13m revenue business with a $2m + operating loss.

I was hoping they would be close to break even but at the reported rates they will need to generate $6m in new organic revenue this financial year to break even.

It's smoke and mirrors how they report Total Contract Revenue rather than monthly revenue gains. This looks like they have added a total of around $40-$50k in monthly billing over 12 months. Its growth and that's always good but nothing like they are painting it and it's no where near enough. At this rate there will be another big loss this year.


Managed to drop a small amount at 13.5c today. Hopefully the rest are gone this week.