During Q4 2016 the Company altered its sales and marketing...

During Q4 2016 the Company altered its sales and marketing efforts to focus on the Enterprise level corporate customer. 1- Page’s sales efforts will now be primarily focused on Fortune 1000 clients and those customers with more than 1,000 employees. As part of its expense optimization efforts the Company changed the composition of its sales force to ensure that it has the requisite skill sets to address this target audience. Important Fortune 1000 corporate customers gained during the quarter included a Fortune 50 global online retailer, a Fortune 50 global bank, a Fortune 500 office supply provider and a Fortune 500 US defense contractor.
During the quarter A$7.5 million in cash balances were transferred from cash in banks in Australia and invested in US treasury notes. Since the Company holds investments in US treasury notes denominated in US dollars, there was an exchange rate adjustment of (A$100,000) related to those investments. Cash receipts for the quarter totaled A$228,000, reflecting a decrease from prior quarter receipts of A$353,000. Onboarding of a new customer typically lags the signing of a contract by approximately 30 days, at which time a customer is invoiced. Cash collections of invoiced amounts typically occur on a net 45 to 90 day basis, which is standard within the industry. Average monthly cash expense outflows during the quarter were A$1,210,000 (US$900,000). As aforementioned, the Company has implemented an expense optimization plan with a goal of optimizing monthly cash expense outflows to less than A$800,000 (US$600,000) monthly.

It will be interesting tomorrow to see market reaction, looking forward 6 months I wonder where this will be @.