The Investor Presentation is just out, but from a quick look it...

The Investor Presentation is just out, but from a quick look it is a miss. The company is still investing at a heavy rate, and we believe the cash-flow breakeven target (which is first breakeven month this financial year) appears unlikely. The company may be excluding funding costs as part of this cash flow breakeven target, which is different to what our expectations are.

NPAT of - $14.6m, versus -$7.6m estimate.

We need more time to work through the result and wait for the presentation, although initial though is it is disappointing outcome.

More out later.

Its a sell for me...............SOLD.