Good to see an increased payments growth target from 5M to 7.5M...

Good to see an increased payments growth target from 5M to 7.5M per month. Interesting to see there is no lending target for September qtr, perhaps management learnt a lesson there. Finalise License fee only for DSD with Capricorn (CAPCharge - which incorporates Pay-Statement-By-Link, Payment widget & Spenda inside sale capabilities) Anyones guess what the software license fee will be, hopefully substantially more than the current agreement with Capricorn as capabilities & usage will substantially increase.

No mention as yet for potential of lending or POS/B2C with Capricorn which is what I’m most interested in. Carpet Court currently in pilot with Spenda Point of Sale & other various products/services. Learnings from the pilot will help the potential roll out of SpendaPOS into Capricorns 26,000 members. (Massive task if it comes to fruition)

Cash receipts starting to look healthier but realistically we are miles off +CF, educated guess perhaps another 1-2 qtrs if costs remaining consistent and rev grows similar to this qtr(too many unknowns to try make an accurate revenue forecast for the next couple qtrs)