Well done Wiz, I was going to put a similar post up. I expect...

Well done Wiz, I was going to put a similar post up.

I expect them to have the new CFO on the end of Feb call, I thought today Peter Pawlowitsch who is the temporary stand-in occasionally stumbled on 1 or 2 of the questions asked. He isn't an accountant by trade so probably understandable.

To add a little to Wiz's comments, the example Steve gave of what he called one of their smaller contract wins, the $1.4M figure is per 12 months. He said they had changed their approach to the contracts they put in place with new customers so that there is a minimum revenue spend regardless of how many subscribers the customer puts on the platform. He said that the way they used to write the contracts they then had an issue around billing and revenue recognition when the carriers took longer than contractually agreed - typically by 2 or 3 months - to make the Dubber platform live on their networks.

Steve reiterated they still believe they will reach break even with their current funding / balance sheet but didn't state a timescale. We can infer towards the end of this year at their current burn rate unless they do some serious cost-control.

I think the end of Feb Ann will provide more detail on where they are at. He said they understand that SH are frustrated with the lack of info given out in this quarterly and apologised but said they are being conservative whilst they work through the revenue recognition issues with Ernst & Young as well as both the new and old auditors.

I look at their customer base and see many of the biggest Telco organisations in the world. They will all have done their due diligence on the Dubber product and would not have partnered with them unless they see significant value in it.

I am happy to continue holding but the LTH need to see clear revenue growth and a reduction in the cash burn as 2023 progresses. They have already said they expect the March quarter to have a similar core expenses figure as the December quarter (21-22M).