Hi B5350H, great comments mate.

I like the concept of Jaxsta, but I haven't been able to get my head around the cashburn rate - $1.3 and $1.5 million last two quarters alone, with said cashburn increasing by a whopping 20% in 4Q. They have around 3 million in cash reserves. What are your thoughts on this? 

It looks like they are starting to market pretty aggressively. There has been reasonably steady to slow growth in users from Q to Q in FY21 (organic), so marketing sounds necessary to really try and drive more membership. 3 million won't go very far in this regard I wouldn't think, so I imagine capital raising/s will occur in the near future? 

My last concern - I am going to keep a very close eye on membership numbers following the company rolling out their premium pricing (was obviously previously free for these members). This will provide insight into how many of those members value the platform - putting their money where their mouth is so to speak. It is yet to be seen if member numbers, including growth, can be replicated once the company starts charging users. 

This risk, in addition to how quickly the company are burning through cash, make me want to sit on the sidelines and see how some of these risks are addressed. The risk/reward is not in my favour in my opinion, as it stands.