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

I had a closer look at previously quarterlies. This is probably the cleanest for sometime as Brian and team have been tidying up over the last couple.

When compared to the last 2 quarterlies, revenue from customers was up $1m at $5.7m compared to $4.7m and $4.68m.

Next quarter should beat this quarter as they have over $1.1m per month of ongoing revenue and $2.9m of projects (assuming delivered & paid in 1QFY23). That gives at least $6.2m.

Ongoing costs were up on previous quarters but it less than the increase in income, giving an operating profit of $450k for quarter. When stripping out the R&D and other benefits from the other 2 quarters they were op profits of $100k & $150k .

Investment expenses were up but this included the final payment for the casting technology. There was a reference to more set top box expenditure which means gearing up to generate more ongoing revenue.

Now they have the new Swift Access fully operational in a couple of mining camps. I think they are about to rev up the benefits to mining workers.

The positive cashflow means they can look to reduce the debt.

Nothing on board movements but I believe there will be some action on or before the AGM (reduce costs).

Now that Regal has gone, the only thing we are missing is some active buyers. As Makarauk said $10m market cap. Ridiculous!!!