Ann: Half Yearly Report and Accounts, page-10

Revenue projections remain to be seen, but they are in the right space and the right place, so expectations of a significant lift in performance is not unreasonable.

Considering the effects of COVID on direct marketing (most over there won't close business without face to face), and that the Sportshero business was acquired late in the reporting period ending Dec 2020, the reported results are hardly relevant to what has happened since or going forward.

The Balance Sheet is also just a snapshot in time and you will not see the cash on hand - over 1.3m unless you look through the notes to the accounts and work out the numbers. They are now cashed up enough and primed ready to go and build the subscribers.

The revenue model will be about boosting subscriptions to the point where they are able to leverage revenue from the numbers from third parties.To focus on the distant past (most of the positive action has happened since then), is very short sighted and doesn't make a lot of sense.

Almost every small cap on the ASX burns 100's of thousands of dollars per year and never have, or will generate revenue or make a profit. This small cap is one of a very few that will be and will be growing it into the future - show me another and I will buy the stock to make bags as it grows.