Ann: Q4 FY2020 Business Update and Appendix 4C, page-27

@ madamswer - agree with this 100%.

The business is investing in staff / R & D etc for growth & for the future - but the market cap is probably pretty fair for the current level of growth / cash flow position / profitability.

It was a good result to get to cash flow positive this quarter, but total outgoings have increased from $5,558k in the same quarter last year - to $7,381k in this quarter.

Same quarter last year generated a $566k CFP number (versus $252k this year).

And April to June appears to be a pretty strong historical quarter for cash receipts.

Therefore the business needs to significantly grow it's cash receipts / revenues going forward - to maintain a cash flow positive position, and to then (hopefully) get to profitability.

I also agree with one of the other comments - the reporting structure could do with some work IMO.

Understand that all companies want to highlight what they perceive as positives, but % comparisons versus the PCP & versus the previous quarter would assist all investors to understand the result better IMO.

Will continue to hold, and see how the next 6 to 12 months play out - and hopefully they can crank up further sales & gain even more traction in their target markets (whilst maintaining strong control over their margins / expenses / total outgoings).