Quarterly highlights:
-
- Strengthened board and management restructure
- Commenced the reduction and right sizing of the cost base
- Executed term sheet for the distribution of race meetings
- Q3 FY23 Webinar to be held on Monday
- Closing cash balance of
The quarter marked one of change for the Company as it strengthened its board, reorganised the management team, and commenced the process of normalising its cost base.
As noted in the Q2 FY2023 Quarterly Activities Report, the Company invested heavily during Q1 and Q2 FY2023 on its platforms and international expansion, and during H2 FY2023 the focus would be on reducing and normalising the cost base. This process commenced during Q3 FY2023 as evidenced by the reduction in operational cash outflows, with further operational efficiencies expected to be realised over the coming quarters.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/T5991V35
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