Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-6

Not bad quarterly - maybe their first since 2012. some of you may be getting tired of my skepticism on this company.... but here goes.

I still have a few questions:

- why is it that when i talk to my clients who work for their customers, they have never heard of felix? I'm talking to people at high level procurement roles.
- I have only managed to talk to one client that used the contractor platform (CIMIC) and hated it and said almost no one in the business used it?
- Why have they spent so much $ and time building all these features over the years to now say the "lite" version will be the one that drives growth?
- How does a 'lite' version have a moat or protection from one of the other marketplaces entering this space?
- Why are they 'deliberately' driving down vendor revenue which is their biggest revenue pillar? Perhaps running a public marketplace is receiving too much pressure from competitors?
- If they're driving down one large revenue pillar and growing the other, how are they going to get revenue growth and close the cash burn gap?
- how are they going to be able to deliver 6 onboarding projects at once?
- i see a cap raise and dilution on the horizon. if they don't put 2 more good quarters on the trot, that could be a dilution shit bath.