Ann: Enterprise Sales & ACV Update, page-189

Hi Brett

Couple of comments.

4c ... believe your 'outgoings' number is significantly understated. Think of the new hires since Q4 CY 2020. Staff related expenses form a huge component of the operating expense total. Believe H2 FY21 Opex will be 40 to 50 % higher than H1 FY21, so expect a similar step- change in the cash outflow number.

That said, expect the cash receipts number to be materially higher, north of $ 2m and hopefully closer to $2.5m.

ACV ... anybody's guess !!

FY Results.... In keeping with my comments under 4 c above and an earlier post of mine which suggested we may be surprised to the upside in terms of reaching positive EBITDA, in broad terms expect Revenue via Customers to be near $5.5 m for the FY and OPEX to reach $ 6 m +. The R&D rebates + any other Grants could be the kicker to achieve some sort of equilibrium between Income and Expenses.

Final point.. I do believe that as this business evolves, the 'jobbing' component will increase to a material level and therefore whilst ACV will remain as a lead indicator of growth, momentum will also be supported to an increasing extent by that not deemed as ACV.

My two cents worth. Not long to wait now.

Rokewa