Ann: Appendix 4C and Cover Note, page-10

Yes, the March quarter is typically a low cash collection quarter for many SaaS business's.
To the recent quarterly, some general thoughts in no particular order and thinking out loud really :
- UCR consultants appear to be a great client and supporter of the business
-the collaboration with SEMMA is a potentially lucrative relationship. Corex haven't wasted any time in implementing our services across multiple sites
-operating costs steadily declining
-valuation: let's average our revenue over a year to be a very conservative $2M with a conservative 10x multiple gives $20M market capitalisation which is over double as it is (many SaaS companies trade at 15-20 x revenue). Based on this, fundamentals alone value us at 10c IMO and with our operating market in its infancy and significant growth potential why shouldnt we be at 20x revenue such as some of our peers? Whether the market realises this in 2 weeks or 2 years is another question, but long term this is a no brainer if you ask me