You are talking bags! This is 101 Maths!
If you had revenue of 1mil first year and then it was 2mil the next year that is 100% growth... not 200% growth!
so 2.8m rev to 5.6m is 100% growth, if it was 8.4mil that would be 200% growth, if 11.2m that is 300% growth... 12.2 mate is not 400% growth i can tell you that.. and cheeky that they include grants which are 1 off's.. should always talk customer receipts.
The reason I sold this company years ago was because they included CONVERTED OPTIONS in their commentary as receipts!
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-22
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