Positive cashflow and profitabilty looking good has run a bit...

Positive cashflow and profitabilty looking good has run a bit already but buyers coming from offscreen on friday taking the few shares on offer doesnt appear to be many sellers despite the cr

L\334767868.1ASX RELEASE28April2020ASX: SW1MARCH QUARTER RESULTS AND4C CASH REPORT
New Contract Wins–Worth Over$3.2m Streamlining Swift-$8m Annualised Savings 
Oversubscribed Equity Capital Raise to Fund Growth-$3.3mcommittedSwift Media Limited (“Swift Media”, “the Company”) (ASX:SW1) provides the following business update and 4C Cash Report for the quarter ended March 31st2020.Summary-Strategy to transition Swift to a more streamlined digital communications and entertainment system provider is generating encouraging early results-Five new contract wins worth over $3.2m announced in early April -Around $8m of annualised cost savings achieved in late March –ensures Swift can generate positive cash flows and profitability through even a protracted downturn-$3.3m equity capital raise oversubscribed –supported by founder, Chair, financier and new institutional investors-COVID-19 creating challenges and opportunities; temporary disruptions to site access with social isolation in mining villages, quarantine camps and aged care facilities creating new demand for Swift’s digital communication and entertainment solutionsPippa Leary, CEO said, “2020 is a transition year for Swift. We are developing new fit for purpose product, upgrading our talent and capabilities, focusing our resources on key verticals and strengthening our balance sheet to fund our growth strategy.