Ann: Appendix 4C and Quarterly Activities Report, page-3

Not sure if we can judge these as great. Elmo reported cash receipts however that shouldn’t be read as revenue. Which means even though the reported cash receipts exceed revenue guidance it doesn’t necessarily mean revenue will match.

In 2019 Elmo’s 4Q update reported FY19 cash receipts of $45.1m and the following month the full year revenue number was $40,5m.

Unlike previous quarterly updates Elmo has not reported annualised recurring revenue this time. Makes me nervous when a company alters the reporting metrics.

As a shareholder hopefully I’m wrong on both cases and everything is fine.