Research as a Service coverage of CL8, page-4

Here is the link to the coffee catch up from last week, good presentation and some reassurance of progress.

Couple of key points :

"Expect to make some announcements very shortly relating to asset finance"

Average subscription times went out to 7 months recently but dropped away as the older vehicles in the fleet were retired. That number is now growing again as the fleet expands and less customers are turned away due to lack of supply.

Both the asset light and heavy model continue to work side by side with new finance expected shortly and just last month a new dealer was signed up and they had 15 cars listed in one day.

New finance being announced, a record quarter coming up plus any other new supply from the asset light stream place us for potential growth short term. If these announcements finance then record quarter etc come in a short time frame the growth and interest could be nicely sustained.

With a MC of $4m there is plenty of room to move and the 6 cent options could well come into play next year providing some further cash for growth.