Ann: August 2022 - Key Metrics, page-8

Big trades today - 1.6m shares...with 1 tranche of 850k. someone either moving out or in.....

On this month results is still not apparent that the Sevenwest media is moving the dial (unless standing still on active members is a good outcome). I think annual report provided some insight, but is clear their cost to acquire in Australia is now too high and the focus needs to rapidly shift to growing revenue per customer. They touched on some this as well in annual report, but I think need to be more aggressive. On basics of being an investment platform I wonder when the next price rise or major improvement is. REIT is interesting, but I would have thought straightforward. balancing act is between too much complexity vs value up. growing super faster should be a priority as that will shift average balance up faster than anything else. I wonder whether doing a deal with Spaceship would be considered - they have been hammered with the fall on tech stocks with a lot of people burned, I wonder how long they can sustain. Raiz fared much better and the forums all support that. on the additional features shopback/cash back platforms taking more of my spend at moment, that would drive up value as well (think Raiz could also benefit from holding cash longer and making value if the working capital benefit - shopback is up to 120days for some items....Raiz much faster). finally at what point do you consider a small price rise. March 21 was last one....I get there a balance act between users and cost, but the payoff from 0.25c would not be unreasonable in current environment.

Asia growth is what it is - interesting to see the average balances now. still upside to go but rate of growth is not exponential. wonder if doing something with Grab would accelerate benefits.

I'm buying more as drops sub 50c, but there needs to be something to drive confidence back into share price quickly otherwise I do fear someone picking this all up for the cheap.....