I think the stock at current level is worth a punt. US growth...

I think the stock at current level is worth a punt. US growth story is playing out nicely and the business is de-risked quite a bit from 6 months ago. Based on $8/student (per the Nov Investor Presentation) and 615,000 student licenses, currently at a revenue run rate of $4,920,000 from student licenses alone. Add in R&D of ~$2-3M p/a, and revenue from hardware/direct/wholesale channels and you'd be looking at somewhere close to $9-10M in revenue per annum. Pretty steep jump from the $4.2M from FY2019.

That being said, agreed with @jlo2012 - Not too reassuring that the proper metrics have been left out in announcement. Although contracted revenue growth looks great, statutory/reported revenue will almost certainly be less than that for the 1H period given the subscription nature of the business (revenue can only be booked when earned, which requires the full subscription period to pass before full recognition of contracted revenue).

My main concern is continued dilution due to cash burn, and the need to raise additional capital. Hopefully cash is collected sufficiently upfront on these contracts but we will see when the official Half Yearly Report comes out.