Ann: Optus Statement of Works near-doubles to over $2 million, page-23

From a revenue perspective it wont be that interesting. We know what 3 Crowns brings in revenue. We were only told what EBITDA for 3 Crowns was and not profit/loss. Probably for good reason. I expect this C4 to have zero surprises and in fact would not be surprised to see a drop in EBITDA for the combined group.

I put it to the SP3 bulls again. WHEN is the next capital raise? If the same capital is required to grow 3 Crowns revenue as was applied to SP3 revenue AND SP3 is still years off making a profit... when do investors expect the next capital raising to be. Until then, I expect no meaningful rise in the share price.

I hope I am wrong. I want Dyson to succeed. But he is going to have to get a lot better return on invested capital in terms of turning it into much faster revenue growth.