Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-39

Here's the problem with the revenue recognition.

"The 'certificate of practical completion' relating to the Immo Agreement dated 25 July 2018 states that 'all work required' under that Agreement 'have [sic] been satisfactorily completed by the 30th June 2018'"

OK, so Gibi supposedly finished all work for Immo by 30 June 2018. If they did not complete this work by 30 June 2018, ISX can not declare the revenue, and JK does not receive performance shares. This is important. 30 June. If it isn't completed, performance milestones were not met.

"In relation to the Immo Agreement:
a. the Gibi Agreement was signed by Gibi on 26 July 2018 and by Authenticate BV on 27 July 2018...
b. the invoices issued to Authenticate BV by Gibi... are dated 17 August 2018, 18 September 2018, 20 November 2018 and 11 December 2018"

So the contract to do the Immo work was signed on 26 July 2018 and backdated to 6 June. Gibi then issued progress invoices to ISX in August 2018, September 2018, November 2018 and December 2018. This is fairly standard practice - you bill as you hit milestones. But supposedly the work was completed by 30 June 2018. The certificate of practical completion was copied from the FCorp Certificate. It even listed the FCorp agreement date, not the Immi one. So was the work done before or after 30 June?