This quarter 2020, page-2

CB this quarter's results are full of mystery.

As you say there is no calendar guidance and I think this is because the director's are not prepared to take on that responsibility of making forecasts.

This does not necessarily mean that the business is not performing well, but that directors have to protect themselves in this litigious society we live in.

The good news from the last quarters report were that was Chinese revenue was up 89% compared with the Q3 2020. However this did not reconcile with the cash being banked. The market responded accordingly.

You can take a number of different points of view as to why this was ranging from the directors are liars are being selective with the truth and son on.
My theory is that with the occurrence of Chinese Year within this quarter much of the revenue generated may not have been banked before quarter end. This is not uncommon in business for there to be a delay between the receipt of income and it being banked especially where there has been a disruption to normal business trading.

For these reasons I expect revenue to grow this year from the previous quarter, but not massively.

I refer back to Petev's comments earlier in the year who I think was as much in the know as any one.

He believed sometime ago it would take 12 months to breakeven, but he expected some evidence of recurring revenue in this quarter, but probably more so in the September quarter.

That's all I have to go on, but expecting progressive revenue growth over the coming quarters.