Ann: Withdrawal of Cleansing Notice, page-161

You're right Streetie we should be including the word unaudited.

Using December 9 guidance, ISX is running a monthly (unaudited) EBIT of $2m as at October.
FY2019 unaudited EBIT is a forecast $6.5m.

Using that as a base, assuming $0 for Jan and Feb while transitioning to the TARGET2 SWIFT framework, and moderating revenue growth to 300% (from 425%) I get a FY2020 EBIT target of $42m.

This excludes margin improvement from TARGET2 membership and any EBIT contribution from the recently announced BaaS business. This is a personal back of the envelope calc and is unaudited.

It may be unaudited but it still looks like a profit to me.