Ann: Appendix 4C - December Quarter 2021, page-3

Quick opinion piece

There was a time not so long ago (Q1FY21) when the company was on the brink of being cashflow positive.

The one thing that killed the opportunity? The (temporary) loss of the Chinese market.

Due to this loss the company had to accelerate the building of new markets all over the world when the initial strategy was to sue the cash generated by the Chinese market to finance these international developments.

It is hard turnaround but there could be some positives here:

There is an acceleration in the growth revenue from the international markets. These could get us to cashflow positive on the condition that revenue increases quicker QoQ than the costs.

If the Chinese market were to come back online this would further add to our revenue base and would put us in the black far quicker.

What do you guys think of these ideas?