Ann: Appendix 4C and Quarterly Update, page-52

These are my thoughts.

1. Those who got in early and sold out at or near the top of the pump (around the time of the speeding ticket) in march were well rewarded.

2. The majority unfortunately probably got in much higher as the rising shareprice would have triggered fear of missing out and most people don't know when to sell and are probably still holding and are under water.

3. The nearing spector that Visa and Mastercard will compete in this market in the near future has put a real dampener on the potential future market share and the drop in the share price has reflected this.

4. The key which are the financials show that this company has a long way to go before it becomes profitable. It seems the more income it generates the higher the company's costs are.

5. Always pay attention to what the Directors of a company are doing. Is the board changing alot are directors leaving .. are directors selling their shares or are they buying more? There was a director who at around the 80c mark decided to sell 8% of their holdings in May. This to me sounds like a director looking to monetize their gains while they still can rather than having confidence in the company and share price rising. This company only listed in late Jan or early Feb yet in May they decided to liquidate 8% of their holdings.

6 The shine and polish of SPT being the darling that will compete and outgrow afterpay etal is waning and heavily diminished. Between Feb and March it didn't take much for the share price to jump 20 - 30% in a day. Now the every day grind is catching up with this stock and its time for it to show the market the numbers. Income of under 600K and losses of around 2Mill or more in the last quater wont cut it for the share price to go up any more.

Do i believe that SPT has a future? It possibly has however in my mind it has to become profitable before we see the price up in the 80c or more.
Yes people are excited that Kogan is using splitit however they will have to wait for the results to see how much splitit is actually being used .. are they getting repeat customers and can the millions raised during the last CR actually be used to increase profitability of the company? These are all questions i have that i anticipate the next quarterly to show.