Ann: Appendix 4C - quarterly, page-6

obviously DYOR and this is far from a sure bet, but after post year end cap raise they will have circa $7/8m - assuming expenses settle around $1.2m p/q and even assuming slowing growth (say 10% per quarter down from 15-20% over past year), revenue should double over next 6/8 quarters. Cash burn should therefore go from $500k/q to breakeven over that time (including 1.8m AAG non-completion payments due by end 2023).

FUM has been mainly NDIS funding which is yield not capital gain sensitive and Islamic finance deals are yet to kick in, so if anything there is notable upside potential to FUM.