Ann: Business Update, page-13

DWX tracking very very nicely imv.

$2.9m revenue recognised from August 2017 to May 2018 (9 months total), with $900k backlog contracted work still to come through.

$2.9m + 900k = $3.8m annualised.

Still leaves three months for a full year.

Going by these figures, $3.8m / 9 months = an average of $422,222 per month in revenue.

There's still three months left for a full year.

$422,222 x 3 months = $1,266,666 that could potentially be added to the above figure, assuming they maintain current level of performance ie stable retention rate of business. Note, this would exclude if any new potential business is won with existing or new clients in the remaining three months to round off the full year. That should potentially take it to just over $5m annualised revenue from one business built organically if current level is maintained.

Also, it was great to see, seven months post acquisition net loss improve for FY18 from $1.3m to $0.59m due largely to the profit contributed by DWX.

Balancing growth through new contracts with extending existing contracts is music to my ears, but I would like to see that percentage improve a little.

Tony