Wowww, page-5

Cash receipts since prospectus as follows -

Jun 21 2.59m
Sep 21 2/72m
Dec 21 2.93m
Mar 22 2.83m

Thats flat to marginal cash receipt growth and not very exciting at first glance.

Yet over same period end customers have grown dramatically over the same period.

Jun 21 123k
Sep 21 177k
Dec 21 296k
Mar 22 410k

This comes as they have pursued a transactional fee strategy with independent agents as their target. They say they acquire or form partnerships with these agents which I don't fully understand yet - but it is clear that having acquired these new agents and their end customer network it takes significant time to implement the Gefen system into this new channel, and therefore income and cash isn't yet showing the same growth as the key metrics. When it does the growth will be very significant - probably late 2022 / early 2023 is my guess and then the share price will run big time imo.