Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-31

Key themes from here:

CCR are effectively fully profitable from here on - no more cap raises (unless acquisitions) - no more dipping into $12 mill cash reserve - possibility of dividends...

CCR have limited meaningful competition in Australia - CCP are the big dog in debt collection in Australia - but focus on debt purchasing - and DP is 'on the nose' - so CCR find themselves in a very nice spot - 6 from 6 in last 6 tenders...

Lag is starting to show - the June month may be the inflection point we have all been waiting on - and the new baseline...

I am prepared to position CCR as a 'decent' growth company - 10% growth in revenue per quarter - and on track to achieve $60 mill rev per annum well within 2 years

From there I think international becomes an obvious next step...