The 4C is out for the quarter.

Notes to self the following:

Zameen has been impacted by the national instability. House selling is down ~50%, however car buy/sell PakWheels was steady, even a little up. I guess people have FUD in Pakistan like they do here and won't move on large sales, but will on smaller ones when experiencing FUD.

Interestingly, iMyanmarHouse bounced back >100%, which shows how quickly these types of businesses bounce back once the instability settles down. I am expecting the same once Pakistan calms the farm.

I remain skeptical of the "maiden quarter of cash-flow positivity". In this CF+ environment, you'd be crazy to work up the accounting tricky and FX voodoo to conjure up CF+ results. But at the same time, it fits with the narrative that Shaun has always told.

Finally, the cap raise was mentioned; the institutional placement for $13Mil was successful. I haven't participated in the SPP and wasn't going to. I was going to accept the dilution, but with the price of shares now around the price I first bought in at...well this little red dog is going to live on instant noodles for a week and buy a small top up parcel on market for $0 brokerage.

^ screen grab from the 4C.