Looking forward, page-81

Its not 60% per quarter, it was 52% for the last quarter

first full quarter trading as IAM
Q4 2016 - $139K receipts
Q1 2017 - $126K receipts -> 9% decline QoQ
Q2 2017 - $192K receipts -> 52% increase QoQ

Lets call it $200K and 50% increase QoQ continues and quarterly expenditure is a little better than predicted at $600K. How long to M1 being $1 million NPAT?

Q3 2017 - $300K receipts - $600K expenses = $300K loss
Q4 2017 - $450K receipts - $600K expenses = $150K loss
Q1 2018 - $675K receipts - $600K expenses = $75K gain
Q2 2018 - $1000K receipts - $600K expenses = $400K gain
Q3 2018 - $1500K receipts - $600K expenses = $900K gain

At 50% QoQ growth can therefore expect M1 to be achieved after tax in just over 12 months time

Lets say amazing 50% QoQ continues

Q4 2018 - $2250K receipts - $600K expenses = $1650K gain
Q1 2019 - $3375K receipts - $600K expenses = $3175K gain

so at 50% QoQ growth M2 is best possible result
no pressure on next 4C !