priority one, page-68

jefferies2 it was more for simplistic calculations and giving GCN the benefit of the doubt.

It also highlights that even if all that revenue was from Flinders, even extrapolating those figures out to Century and Jam Factory (which is generous), GCN's current cash and cash equivalents will come close.

GCN's cash at end of quarter was $3,405
+ $250,000 from option conversion
+ unused loan facilities of $829,331
Total cash at call $1,082,736

Their outflows for the quarter were -$547,972.

Based on those figures alone(not accounting for revenue), there is 2 quarters left of capital. Even if you pick a midpoint between last quarters outflows of -$313,332 and this ones, it still comes close to 2 quarters.

Assuming that their quarterly outflows will remain somewhere in the $350,000 - $550,000 region per quarter, they are significantly going to have to ramp up revenue to cover costs.

IMO, 2 quarters is not long enough for them to go from $23,657 in revenue to over $500,000.

Anyone predicting revenue of $500,000 per quarter within 6 months would be assuming that Flinders, Century and Jam Factory were all up and running and earning approximately $150,000 per quarter each. On Flinders alone, that is an increase of over 100% annualized.

Again, no one is disputing the business model, nor saying that money cannot be made from WIFI in Australia. There are $100M+ companies doing it overseas. The issue is as a result of ASIC's ruling, they cannot raise funds as they previously had - this is the arguement that I don't think many have clued onto. This is the issue.

They have to make their current cash last and by the time it runs out, either have revenue at a level to support the company or come up with a way to inject cash.

If the ASIC ruling is overturned and they can raise cash, then happy days.