Taking a look at the numbers which $ISX has dislcosed:-...

Taking a look at the numbers which $ISX has dislcosed:-

CY2018ytd = "in excess of $3.5m" of "cash receipts"
1QCY18 = 1.48m ("unaudited revenues")

The numbers defintiely invite the conclusion that:-
2QCY18 = 2.02 (3.5-1.48)
1QCY18 = 1.48

So that "would mean" sequential growth of +36.5%, WOW !!!!!

AND annualising the trading update would result in 7m of top line vs a 7m cost base, WE ARE ABOUT TO BECOME CASH FLOW POSITIVE !!!!

Of course the cost base is broadly FIXED and the revenue growth is STRONG and we all know the story that the retail banks are getting out the high risk money flow segmeent which is $15bn, leaving a big unserviced marekt to ISX - again WOW - inbound customer enquiries !!!!

BUT A NOTE OF CAUTION.

Lets hope that managment haven't fudged the $3.5m of "cash receipts" by including R&D tax rebates in order for management to be issued a LOT more stock. That is low quality revenue (or cash flow or whatever inconsistent handle managment use to update the market) and a blight on management credibility.


Of course if you are JK why wouldnt you want to issue yourself an additional 333m shares for free by fluffing your numbers and diluting the rest of your shareholders (ie us). That's why the stock isnt going up, dilution.

The future here is very exciting but with always, the devil will be in the detail. DYOW.