I agree, the performance bar is set very low - too lowRecurring...

I agree, the performance bar is set very low - too low

• Recurring revenue of just over $4M and total revenue of just under $8.7M for year 30th June grants 50%. I wouldf have expected a total revenue figure of at least $10M with at minumum 60% of that being recuring.
• Positive net cash flow by 30th June grants 30%. I think min cash flow+ve of at least $0.5M
• Gross margin >= 60% (which was achieved last year) sets no incentive to perform.

Add to that granting AR9O16 - Unlisted Options ($0.0792, expiring 3 years from date of issue). That's about 8c conversion price in 3 years. Well I certainly hope that in 3 years the share price is well above 8c. The conversion price should have been set at 50c given the 3 years. I would expect share price in 2026 to be over $1.

This is a very soft performance bonus package.

It's a "NO" from me for Resolution 4.