Yes, Rakan did say that. But that's an expection (or hope), kinda like Scott's "very, very conservative estimate of $7 to $7.5M for this FY". Yes we may have $780K so far this quarter, but that's still behind schedule for the $3M to $3.5M we need this quarter to hit that "very, very conservative estimate".
I'm not trying to be Negative Nelly here, just stating what we know from the reporting provided by the company to far.
For example.
Last FY, the legacy subscription business had a revenue of $4.8M, so lets average that to $1.2M per quarter. Digital Humans division returned $547K for the year, which is only $137K per quarter.
To get to cash flow positive, we need at least $2M per quarter revenue (I'm assumeing we're not getting that R&D grant every quarter).
Assuming the legacy business can continue at $1M per quarter (which I question WTF happened in this most recent quarter??), and the growth that is going to get us going, is expected to come from the DH division.
ie. We need to get that to at least $1M per quarter. Turning, say $150K to $1M is 600-700% growth to do that.
So these amazing returns we're hoping for, is exactly what we really need if we're going to get into the black before we exhaust our loan facility. Hopefully we sell some of our AudioStack shares to help us here.
On the plus side, today's webinar showed us (again), that the tech Unith has produced, has what it takes for us to realise this potential.
But until we crack the market, and Unith becomes a known name, it doesn't matter how good your product is, companies have to know about you, before they can sign up. Nowadays, its close to impossible to just cold call a company and get to talk to who you would need to, to sell your wares.
This is where the skill and connections of the BOD should come into play.
These are the people that we need to use their connections, so that the sales team can at least get a foot in the door of some big enterprise clients. Does Scott, Sytze & Antony have what it takes?
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