Ann: Placement and SPP to raise up to $3.5 million, page-46

Very early investor as well. My current, not entirely insignificant, position is free-carried. So, each to their own, horses for courses. No-one to blame but yourself if you rode it all the way down. Observation, not criticism, and a lesson I've learned the hard way as birdman so kindly recently reminded me.

My basic premise is, having taking a long time to reach this point, longer than we all hoped, maybe at last the time is right for the growth we've all been waiting for. And not the retail hype-based SP appreciation we saw in 20 - 21 - that always ends in tears, as it did especially when accompanied by a general market malaise - but fundamentally-driven SP appreciation that can be sustained in the med-long term by ongoing customer acquisition the result of acknowledged technical expertise thus providing momentum for continued growth. The product in 2020 was in the very early stages of development and simply was not good enough to do what customers and the market expected. We are light years from that now and starting to see the results. Other than a macro event, there is no good reason why that shouldn't continue.

Speaking of risk, last year's AR had this to say:

Outlook & Focus Areas for FY23

As we move further into FY23 the Company remains laser-focused on balancing our ambitions to deliver exceptional organisational and financial growth with a disciplined approach to financial management.

Success will likely result if we are able to focus on the biggest drag on growth – identifying, onboarding, nurturing and retaining exceptional people. The absolute irony of scaling a cloud platform business is a magnified reliance on the need for exceptional people to conceive, build and sell digital twin solutions to our customers and prospects across the Company’s key target market sectors.

Recent Placement/SPP

Funds raised under the Placement and SPP will primarily be applied to:

Accelerate the recruitment of senior business development resources in the Company’s key US market, targeting the recent surge in domestic investment in civil infrastructure assets across the power, water, road and rail sectors, which is driving the rapid adoption of digital twin solutions like Pointerrs3D.