Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-34

In response to the cash-flow concerns you have raised:

There were a number of one-off costs incurred to support the establishment of global infrastructure to continue expanding the business.The Company completed integration into the Cipherpoint technology asset purchase and those employees located on the Continent. Additionally, Subsidiary Expansion & Staff Investments occurred. The Company incorporated both a UK and German subsidiary to better serve the European markets for partner community and end- customer sales. The on-boarding for the sales and marketing teams are now complete; making them well equipped to deliver new sales and partner opportunities in the coming quarters.

With low customer churn being maintained, we are well-placed to execute over the remainder of FY22 with strong pipeline growth, key strategic alliances and continued market tailwinds.”

During the quarter, the Company also generated 25 IP Co-sell opportunities alongside Microsoft. The expanded pipeline goes across all three sales regions with specific vertical focus on government defence agencies and global defence and intelligence corporations.

Not my thoughts. This was also stated in the December 2021 Quarterly Report you reference.

IMO, it alleviates the concerns you have raised.

I will leave you all with this.

From the Webinar today:

To quote the CEO, In agreement with Microsoft (NDA's in place?) we will stay away from naming anyone and the following bold statement certainly demonstrated confidence, IMO, "We are cranking up a global machine”

GLAH