Well My estimate is 1HFY18 Revenue $22M Deferred $17M COGS $15M...

Well My estimate is 1HFY18

Revenue $22M

Deferred $17M

COGS $15M

OH $5M

Profit $2M

She all hits the bottom line from here. When you annualise it Dec Qtr 2 we are probably looking at $8-$10m per year. This is just Pillar 1.

Business is growing 50% Qtr
Tipsly App on boarding and further $12M in revenue
Pillar 2 Ramp up over the next 12 Months

You need to be looking ahead 12 Months is assessing fair value IMO, not looking through the rear mirror

THINK BIG