QoQ revenue growth was not fantastic, happy to admit that. In...

QoQ revenue growth was not fantastic, happy to admit that.

In regards to the points you gave...

1.) - agreed, Pentanets fixed wireless is a very good product, I use it myself and its by far the best internet I have ever experienced in Perth. I disagree with you calling it "cheap" though, its also about $20-$50 per month more expensive than the NBN with the same specifications (yes I realize Perth NBN is garbage hence why I changed, however there are a lot of suburbs whose NBN is reliable enough for them not to seek alternatives especially if the alternative is more expensive).

2.) - They do/did have first mover advantage in the fixed wireless broadband but they certainly have competition now (Swoop, Acvtiv8, etc). What they do have first mover advantage in, and have exclusive rights to, is the cloud gg gaming platform. Nobody else in Australia can provide this service with NVIDIA atleast for 12 months. Being in relations with NVIDIA is huge for Pentanet, since they also seem to be fairly friendly with Meta (terragraph service). This would make you ask why Pentanet stands out in order for NVIDIA and Meta to enter agreements with such a small Perth based company. Sure, NVIDIA has made their money by selling the processing units to Pentanet already, however it benefits NVIDIA also for the technology to be executed and marketed correctly (so 5GG orders more units ongoingly), which they obviously believed Pentanet had a good road map into doing. So far, I believe its successful. When you say 58,000 users all use it for free, they HAVE used it for free, but it is not free any longer as far as I am aware. It costs $19.99 per month to pay monthly or $17.99 to pay a yearly account. Assuming only 10% of trial users convert to being paying subscribers, that still equates to roughly $120,000 per MONTH of revenue (6,000 users x $20 per month), which is VERY significant. Thats also assuming ONLY a 10% adoption rate. Initially we may see less than this, but in my opinion this technology is groundbreaking for many reasons and should hopefully see more than 6,000 monthly users. As you say they have first mover advantage with this and there literally cannot be any competition unless Pentanet fail to order more GPU's in 12 months (yes, always potential for that to occur).

3.) - They've built the user base (58,000 people TRIALED the technology, that's a pretty fair user base for a trial as far as I am concerned) and they also addressed another of your concerns by offering this product over east and increasing brand awareness and exposure. Having existing users of a cheap service (cloud gg $20 p/month) over east, in my opinion is a very clever way to access clients prior to even offering the product. Get the foot in the door to say 2,000 users of cloud gg over east (very pessimistic figure), then use the data collected to analyse the most optimal tower locations to service those people with fast fixed wireless internet. Build towers, expand, offer cross promotions with fixed wireless and could gg gaming etc etc etc. Atleast thats how I see it being a good starting point for expanding over east. Fixed wireless is attractive mainly to gamers, so by pentanet gaining the information of who and where gamers are on the east coast via cloud gg, I can see that as beneficial information going forwards.

I believe in Stephen. He is incredibly switched on and on the pulse of gaming in Australia, which not many other CEO's are. His awards cabinet at home must be getting full by now with all the accolades related to Pentanet

But yes, I will be going crazy once those little white dishes are all you can see when landing in Sydney or Melbourne.

Goodluck all, this is my opinion only and not advice