Ann: Investor Update, page-9

revenue is currently not growing

$26.2m Q4 FY22 closing cash balance $87.6m
$23.8m Q1 FY23 closing cash balance $64m

Todd needs to stop the cash burn including company acquisitions and "performance payments" and consolidate the current business he has. I'd start with cutting the staff costs which have now blown out to $17m after all the spending.

I agree it's a five year plan...the "fixed odds story" in the US will take some time......Todd did mention this last year.

We all know the betr launch was a train wreck...ask any cabbie on the east coast.

HOLD