Ann: Appendix 4C - March Quarter Report-BUD.AX, page-21

My takeaways from the quarterly are as follows:-

A strong quarterly report from Buddy with results that are in line with, or exceed guidance provided by management.


·First full quarter of operation as Buddy Platform Limited, following the relisting of the company as Buddy Platform Limited (ASX:BUD) on December 30th, 2015.

·Recorded service revenue of $145k and finance income of $40k, up from $88k service revenue and $34k of finance income in Q2 FY2016.

·Total cash balance of $13.0MM as of March 31, 2016.

·Performance metrics guidance – peak traffic of 9.6MM transactions per day; peak new devices count of 116k per day.

·Very large pipeline growth, very large pipeline total and factored value growth.

·Seven (7) new partnerships executed.

·New staff hired & on-boarded, including: Vice President of Sales (US), General Manager (Australia), Engineering Manager (Australia), Software Engineer (Australia).

·New member of the Board of Directors added – Mr John van Ruth.


Notable that there’s already $3.14 million (US$2.4 million) of business in the pipeline, sourced from 367 leads and 20 opportunities. This level of transparency will really help investors gauge progress and traction with the company.


The company also advised of pilots expected to drive more than 115 million transactions per day worth of new at-scale business to the Buddy Platform, and guidance was given that the first batch of facilities operated by Noveda in the US/Canada have been migrated to the Buddy Platform.

The most important thing to note is that the parse deal used all their time and resources as it was simply to big a deal to pass up and that revenue will hits BUDS profit line first quarter next year ( assuming no one rolls over earlier!!!) now the parse deal is over the line expect BUD to focus on executing on and growing the pipeline of clients!

Dyor,

mon