Client receipt back to same level as per December quarterly- it...

Client receipt back to same level as per December quarterly- it is clearly that the SaaS is the only source of income they get apart from the non-recurrent advertisement payment. Hence I think the postcoder.com.au is not generating much revenue at all.

Finally seeing a positive trend of merchant recruitment- up 78 (1.5%) from last quarter. It is very good to see some explanation of what they are doing for this with their new recruitment model in place.

They have continuation of uptrend of membership number and check-ins and now have nearly 3m member & quaterly 3m check-ins (now I think the check-ins figure is accumulated).

However, no more cash left for next quarter hence a CR is imminent. At this current price I am not sure how successful this is going to be- maybe Mr. deep pocket is going to rescue the business again. There is not much excitement from the quarterly apart from the part for merchant recruitment- since it is implemented in June (with a 1.5m price tag) & it apparently brought about a marginal 1.5 % SaaS we need to see if it does provide a change of trend of the SaaS revenue flow.

Overall an OK ann and I think it is probably better for RXH to go private since Ruwan is funding the business from his own pocket anyway.