Ann: Quarterly Update & Appendix 4C, page-68

The next gen coms industry is about amalgamating, the tech is not generally something that is developed in within individual company silos. The focus of the DUB management is spot on. It would be far less impressive if we received a 4C that advised that they'd hit $1m by chasing subscription from individual telcos as apposed to the one we've got.

Completing the security ISO is significant, lest we forget that regulatory requirements in countries outside Australia require recording and many of these end users that have to record are the Webex customers, the scale up is essential to achieve the exponential growth that will come from the Cisco partnership, the 1% of the Cisco customer base is a underestimation.

The 4C is a clear sign that the management have their eyes on the real prize.

PS, nobody can sensibly value a company on current multiple, you value on future. DUB are setting up for a very bright future.

All in my humble opinion.

GLTAH