Ann: Strategic Review Progress, Business Update and FY23 Guidance, page-70

Good luck to all remaining holders. I am out of this - today - painfully! luckily it wasn't a large % of my portfolio but yet another lesson learned.

I am out based on past experience on how this goes - tends to be a slow death with a domino effect on confidence. I am not willing to roll the dice on this.

It may recover but it may not. If it does recover, it might be a couple of years away. My capital is better placed elsewhere at this time.

Whilst the board has flagged it is okay from a cashflow perspective in light of its capital structure, I am a little concerned a capital raise is forthcoming to shore up its balance sheet. That would perpetuate still more selling.

Any more bad news would also make matters worse. Look at Appen, EOS, EML etc as recent examples.

Also of note in the announcement yesterday is three legacy contracts winding down this year that would hit FY2024 revenue - on this basis it doesn't seem like FY2024 will be a great year either. They also mention they don't "believe" any other contracts are at risk but do we "believe" what they "believe" at this point? Economic situations like today may cause clients to not renew contracts.