They are determined to stay debt free. With 10% of revenue going towards product development the pundits are not liking the bottom line figure. Reality is $50-75m p/a goes towards product development. Don't understand why they didn't raise that capital to cover three years of product development ~$200m and leave revenue alone to feed through EBITDA. Should have done it in February when we were made aware of these results at $8 which would have been 25m shares raised.
Ann: Update on 1H 22 results and FY2022 outlook, page-38
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