Solid quarterly update, revenue metrics headed in right direction. 

Continued growth in ARR and SaaS revs.

Cash balances have increased reducing potential capital raising overhang/risk 

Investment in growth intiatives globally. World Golf Handicap system implementation should add to rev growth.

Interesting that compnay notes similar technology buisnesses trade at more than 7x SaaS rev, whereas MPW currently trading at ~2x 

https://www.asx.com.au/asxpdf/20190430/pdf/444pdthytgg4zc.pdf

Continued investment in technology/platform and evolution of product per press release link below. Increasingly of the view the market has overpenalised the company for some underperformance last half year and potential cash concerns based on 1st qtr, noting that with ARR of ~$17m and market cap of ~$29m, looks cheap at ~1.7x revenue.

https://mpowermsl.com/msl-gives-their-customers-the-big-picture-with-the-launch-of-ascend-their-real-time-business-analytics-platform/

Progress on execution of global golf/world handicap intiative with addition of Swiss Golf Federation, good achievement and a building block for a key MPW intiative. Press release link below. Revenue impact may not be material as not released to ASX.

https://mpowermsl.com/global-momentum-continues-for-mpower-msls-golf-platform-to-deliver-the-world-handicap-system-in-2020-with-signing-of-the-swiss-golf-federation/