Ann: September Quarter Appendix 4C, page-8

Out of interest @Hindsight2011, are you aware that of the ($7.7m) outgoings, ($5.5m) is payments to merchants? Do you know what that becomes?

”The $5,517,000 merchant payout figure combined with the Company’s Net Transaction Revenues is effectively now BNPL receivables to be reflected as cash receipts in future months excluding any non-performing loans (NPL’s). To date the Company has no non-performing loans.”

As a rule I always read the 4C first and make my first impressions on the numbers, not the narrative fluff, but occasionally some figures need contextual explanation.

Clearly that’s the case here.