Unfortunately the numbers at the end kind of soured this report, but if its genuinely just a timing difference then everything looks well on track. Interesting that the top 12 defence base recurring revenue announced in November for $500,000 USD has now been reported as $700,000 USD, theres an extra 200k of SaaS the market hasn't valued!
Can't workout if the loan with Riverfort is exciting or scary though. Paying 9.5% for a 4 month $400,000 loan is quite severe, especially when they're advising again inflows will meet outflows next quarter and we've just been burnt for this quarter. Or if we take things at face value it looks like they're gearing up for some simultaneous contracts being signed. Very exciting/interesting times ahead no doubt.
Ann: Appendix 4C - quarterly, page-18
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