Ann: Trading Halt, page-60

I had a look at the Annual Report to which you alluded, and this is what I came up with. No guarantees for accuracy though.

On 30 June 2023, JP and PS agreed to a reduction in Fixed Remuneration to:

JP $576,000
PS $677,000

This included statutory superannuation.

They also agreed to a further temporary reduction in remuneration of:

JP 30% i.e. Remuneration now $403,000 PA
PS 40% i.e. Remuneration now $406,000 PA

Total $809,000 PA. i.e. approx. $200,000 per quarter.

During this period a majority of employees forgave 30% of salary in lieu of options.

So back to 30 December Quarterly.

Cash for others: Staff costs of $507,000 Less JP and PS = $307,000.

Number of additional employees would have been approximately $307,000/$17,000 = 18 + (JP +PS) = 20.

Should be a lot less this quarter, or the coffers will suffer greatly. Available cash of $847,000 at start of quarter.

Now run your ruler across this. All IMO.