Buckland, I was trying to analyse the trajectory of the nearmap...

Buckland, I was trying to analyse the trajectory of the nearmap business itself. For the overall result there are other revenues and costs associated with the other parts of the comapny such as the IP business.

The problem with the IP business is that both revenue and costs are lumpy and take quite a considerable time to play out.

Contrary to what Bacci has stated, I don't think that nearmap is a disaster. If they can keep the revenue growing at the same rate of 94% or somewhere close to it but still keep the costs growing at a much lower 11 or so percent then it looks like a winner.

And the report also states that they expect the nearmap business to become cashflow positive during this year. However they did leave a bit of wigggle room as it wasn't made clear whether it was financial or calendar year.

You could contribute to the conversation by going over the results and having a go at determining what are the drivers behind the 9.4% increased loss. Was it due to the nearmap business or the lumpy nature of the IP business, or whatever?

Cheers

U.Plodder