Ann: Half Yearly Report and Accounts, page-8

Hi Brett

Pick up on the disparity between the Customer Receipts number declared in the HY Report versus that reported in the 4c ? AUD 425 K difference and yet the closing Bank / Call Account comparison reveals only a AUD 23 K difference.

Would not necessarily change the Revenue declaration in the HY result, but may beg the question about the standards on disclosure. I am not an Accountant but have called for a second opinion on the Receipts disparity. My logic says if the Result (closing Cash Balance) remains essentially unchanged, a reduction of AUD 425 K in inflows has to be replaced with another similarly sized inflow or a similarly sized reduction in outflows. That said, a Customer Receipt is a Customer Receipt and should never be subjected to, let's call it, creative accounting.

As things stand, a highly disappointing result for the first six months of FY22.
i
Rokewa