Ann: H1 FY24 Business Update, page-5

The two recent announcements were both sold into by holders looking to exit.
You could argue the SaaS figures were positive, but why didn't they provide a similar update at the AGM?
Can anyone explain why their ARR is $10.9m, but their MRR is $0.7m, the two don't add up.
I've seen a SaaS divided by staff numbers metric and Xref are one of the worst on the ASX.
Maybe those metrics improve with the staff cuts, but numbers don't lie.
And at the AGM, they were investing for growth, only to have redundancies and reduced marketing spend.
What a car crash and disaster of an AGM!! But wait for them to award bonuses all around.
They have $3.7m in cash at bank, but have drawn $4.6m of debt, so in a negative cash position.
And the debt is getting charged at a 16.5% interest rate, ouch!!
They are still cash flow negative and clearly haven't cut enough costs.
This only gets worse and the tax loss selling is going to be brutal given lack of buyer interest.