Ann: Response to ASX Query Letter, page-30

Madau, a forensic auditor has looked at the release dated 21 Dec 2020.

1. A number of Cashflow business were to be acquired.
2. Red5, St Barbara were customers.
3. Asra was not a customer.
4. There is no disclosure stating asra contributed to the 1m pre purchase Cashflow.
5. The assumption is 1m was the Cashflow post sale without no 4 disclosed.
6. The Cashflow was good enough to debt fund the aquasitions pre sale.
7. No Cashflow exists to debt fund post sale. Refer financials.
8. Cashflow fell without asr receipts once acquired.

It could be thought revenue was down generically, but yesterday's response to the asx, explained it was because asr contributed to Cashflow pre purchase.

It was never going to be 1m Cashflow due to that fact.