Ann: Half Yearly Report and Accounts, page-12

Never ceases to amaze how many people willfully ignore the fact that if you're growing your outgoings faster than your incomings your literally going backwards.

Going Concern

The financial statements have been prepared on the going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the normal course of business. As disclosed in the review report for the half year ended 31 December 2018 the Group recorded a loss of $3,794,152 and had net cash outflows from operating activities of $2,615,332 for the period ended 31 December 2018.

These conditions indicate the existence of a material uncertainty that may cast significant doubt about the Group’s ability to continue as a going concern. The ability of the entity to continue as a going concern is dependent on securing additional funding through capital raising activities and securing of material revenue generating contracts to continue its operational and marketing activities.

The directors are satisfied they will be able to raise additional working capital as required and thus it is appropriate to prepare the financial statements on a going concern basis. In arriving at this position, the

Directors have considered the following:

The completion of a placement to professional and sophisticated investors in December 2018 to raise $1.11m (before costs);

Continued growth of revenue products; and

Prudent cost management.

Better find a way to raise funds or have those deals finally start paying off or you're literally going to have to shut the doors and have a yard sale before the next half yearly.