Ann: Response to ASX Price Query, page-215

Welcome to a humorous jaunt through the world of key arguments and presentations.
Let's dive into the absurdity together, shall we?

The MCap vs. PS Ratio Tug of War: Ah, the endless debate between market capitalization and price-to-sales ratio. To those passionately arguing MCap against PS ratio, take a peek at TradingView or similar screeners. You'll find a plethora of companies with market caps over $100 million and PS ratios less than 1. So, before dismissing it as completely ludicrous, remember, some poor souls actually look for net assets and growth capability. Bless their hearts.

The APX Rollercoaster Ride: Hold on tight as we ride the APX rollercoaster. Despite a whopping 30% loss in FY 2023, they somehow managed to lose it all over again with another 30% in the following year—say goodbye to approximately $82 million of Google business. But fear not, for the stock price soared once more, and the PS ratio is cozying up to 1. Not bad for a meme (again) stock, right?

The HY Presso : Let's dissect the latest half-yearly presentation, shall we?

Resized cost base? Sounds like a fancy way to say they're trimming expenses in a company most of us expect to explode in sales. Clearly, someone in the C-suite has a different vision.Ah, the miraculous $13.5 million cost "saving." Losing a big customer isn't a loss; it's a "saving." Who needs AI when you've got accounting magic?"

China achieved record Q4 revenue growth." Hold your horses and flip to pages 7 and 16 together. China had those numbers pre-COVID and is just now getting back on track. But let's not let facts get in the way of a good story.

Generative AI-related growth of 410%? Impressive... or is it? 410% from a base of $100K , $1mil or $10 mil ?

The Graphs That Make You Go "Hmm": Ah, the adorable graphs on pages 12 and 13. New Market consistently in negative EBIT as a percentage of sales? The bigger they grow, the harder they fall...

The Pages of Intrigue: Pages 7 and 21, where Generative AI revenue globally is skyrocketing at 42% CAGR. Meanwhile, APPEN seems to be doing the opposite, growing its revenue at a negative 30%. But fear not, dear friends, we're optimistic. It's going to be a rocket ride from here on out!

The Cryptic Numbers: Page 17, where we celebrate 89 customer wins. Deal size increased to $147K? A 5% jump from last year means an average size per enterprise customer deal increased by $7K... massive! Ignore inflation; it's still a win. we might just need another 10K such wins.

The Mystical Pages: Finally, pages 32-33. Do they hold the secrets to future success? Or are they just toying with our emotions?

Remember, dear investor(punter)s, the market can remain irrelevant longer than you can remain solvent! So, keep your sense of humor intact, and may your portfolios be evergreen.