Hi mate, thanks for your comments. I think all investors should...

Hi mate, thanks for your comments. I think all investors should read the 4C in conjunction with the presentation, but provide some of my thoughts/comments as follows.

-cherry picking Financial metrics...again. FY22Q4 total revenue is actually down vs same last yearI think management has been reasonably consistent in their presentations, focussing on licence growth and explicitly noting their intent to "opportunistically" align services-based revenue streams. I assume this means when the opportunity to sell services arise, they'll use it if it means there's a potential to increase licence growth.

I've noted numerous times though as a shareholder, I'd prefer to see a warts and all representation of numbers. A consistent approach in referencing either the previous quarter, or the prior corresponding period is preferred. Regarding the prior corresponding period, if my understanding is correct, there's a rational explanation for that, being the tail end of service related fees associated with the initial $4.2m "landmark" deal. No reason management can't note this and explain it.

-$7m deal is an on prem install (so customer house the hardware) - how much of the $3.6m is hardware and how much services ? 50:50 ? These are one off revenues and i doubt they'd be making much off the hardware sales. Also assuming 3.6m includes support, with $3.3m being recieved in FY 23 - this would be install and setup. so the remainder ($300k) is support for FY 24. is that ongoing ???

I'd suggest you read the announcement specifically relating to this. Most of your queries will be answered in that.

-the additional customer for the Qtr + annual renewals of large customers is great news... but how much is it actually worth ? Whens the money coming in? if its already in... well it wasnt muchA question worthwhile asking management, however, if my understanding is correct and they generally get paid upfront, with terms up to 45 days for payment, I'd hazard a guess and indicate it's worth between $2m and $2.5m based on receipts for the quarter and the circa $2m received shortly after close. Happy to be corrected and hear alternative views.

-continued MS expansion - all well and good but when will we see some conversions ? This includes the thales, raytheon partnerships. We've seen these big names being touted about for years. will something happen this FY? ??

I'm sure everyone has their own opinions, but quite frankly, not something anybody can answer, without being privy to inside information.

-Growth strategy seems flawed; How can you innovate a software product if you also cut monthly opex by half ? Not saying it cant be done but IMO sales + marketing would be more important to keep at this expansion stage... so what gets cut ? Development ?

I think you may have misinterpreted the slide. It doesn't say opex will be cut in half. It says "cash burn expected to halve". This infers they expect receipts to at least double. This is explicitly stated in the 4C.