Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-12

Terragraph and fixed wireless go hand in hand. Terragraph allows them to scale their fixed wireless business significantly at low cost - that's the investment case for 5GG.

Like most tech companies, I suspect the valuation is higher than current revenue based off the YoY growth they've had and their future earning prospects if they deliver on the plan outlined in the IPO prospectus, and the plan to expand nationally.

I like the gaming push for its ability to provide passive income once the tech is set-up, it's also a significant marketing advantage to an active audience with a clearly linked sell to them on the advantage of their main offering (fixed wireless) that other ISP's can't offer.

It's super early days and ISP's have big capital burn when they are creating infrastructure, so I expected there'd be these worries early. Investors shouldn't expect a quick return on this, it's a multi-year strategy they've outlined. As the MD said, Perth is only the beta test.