Ann: Quarterly Activities Report and Appendix 4C, page-3

I disagree.

Recession resilience requires capital sustainability. This company remains dependent on the market appetite for funding it. Management need to seriously begin to moving toward break even and not just targeting it near term (like they have since 2017).

They also massively overpaid for the large acquisition, and these result show it.

The appeal has always been its innovative approach to solving serious problems and this has been recognised by its rapid growth, however that's evidently tempering, while the cost of that growth has steadily been rising.

Management have a lot of work to do here.