Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-15

Given we more or less land on the number of shares issued, and I like to work to a revenue multiple of 4x.

Q1: 4.1M
Q2: 3.05M
Q3: 4.12M
Q4: 3M B2B for October

so all up 14.27 with November and December to come which are typically good months. I will assume an extra 4 M for the quarter so we land at 18.27M USD - which is just under 25M AUD. At 4x we get to the 100M sale price. Of course if they get a better multiple than this, it dramatically changes things but I would rather be conservative

they need to continue to demonstrate strong growth without further dilution to get this back into the 20’s IMO. For me the challenge is not diluting further.