Ann: Connected IO Activity Growth and Company Update, page-6

Don't agree. The accrued revenue is expected to be cash recipts by the end of the quarter, that's why it's counted. still a month to go. If everyone pays up (which they should at the EoFY) we are looking at approx 18-20% growth for the financial year. That's reasonable. Definitely not the end of the world. The doubling of growth was expected by end of calender year so they have 6 months to gain another 80%. It's not impossible. Will be good to see margins increase to 50%.