Following on from the previous two straws by CamSmedts34, there has been no improvement. Indeed, the FY20 loss has been followed with another in FY21 with accumulated losses now over 44M.
Cash holdings are less than 2M, although this will be/ has been improved by ~4M with the sales of non core asset Skoolbag. Receivables has also grown considerably to 12.5M, with 2.3M of that aged.
The annual report alludes to staff churn which has two resulting impacts. One in recruitment fees, and the second is market expectations for new hire salaries increasing. Neither help a business where staff costs are a significant proportion of expenditure.
What also concerns me is the dollars some of the management team are paying themselves. All received large increases in the last 12 months of between 20-45%. That and only one of them is on an incentive based salary, and that recipient is not the dude heading sales.