Good morning. My name is Jane Morgan, and thank you for joining the Bigtincan Holdings Limited annual general meeting. To ask a question during the meeting today, please write your question for the board using the Q&A icon, which can be found at the bottom of your screen. I will now hand you over to Independent Non-Executive Chairman, Tom Amos. Thank you, Jane. Welcome, ladies and gentlemen, to this virtual and in-person annual general meeting of Bigtincan Holdings for 2023. My name is Tom Amos. I'm the Chair of Bigtincan. Thank you for joining this 2023 AGM meeting. I am advised by the company secretary there is a quorum present, so I'm pleased to declare the 2023 AGM open. The notice of meeting has been sent to all shareholders, and I'll now table that notice of meeting. The notice of meeting, general meeting, annual report, and the minutes for the 2022 AGM are available for review on the Bigtincan website. The directors, Viv, the next slide, thanks. With me in Sydney are my fellow directors, Wayne Stevenson, Inese Kingsmill, and David Keane. We also have here the company secretary, I think, Mark Ohlsson, and a representative from our auditors, BDO, Gareth Ferrou. Also joining us today are members of the management team, which includes Cyril De Souza, global head of finance, Vivian Stewart, COO, and Patrick Welch, President of BTC Mobility USA. Welcome. We'll first conduct a formal view of, the formal business of the meeting before handing over to the CEO and Co-founder, David Keane, who will provide a review of the company and progress over the year and some comments on the company's outlook. Next slide, thanks. Right. In 2023, it's been a challenging year for Bigtincan, and the board and the company has had to meet some of those challenges, which include repositioning the business, running a corporate advisory process and change of control process at the same time, and executing our strategic agenda to move the company forward. The year also has been a pivotal year, and it's characterized by increasingly difficult markets in both our major markets, while seeing subdued business conditions. High inflation, rising interest rates, uncertainty with wars, have all impacted the general business confidence and the investment appetite. In such environments, some U.S. companies have also been slow or seeking to reduce the costs of reuse, and they have remained subdued in that process, and our CEO will talk more about that in his address. Anticipating the increasing difficulties in the market, responding to changes in the investment and investment sentiment during the year, at the beginning of the year, particularly, the board took an early decision to rotate the business away from investing ahead of the growth and to essentially seek the business towards cash flow positive and EBITDA positive. This requires significant restructuring of the management team and some resources, but this was achieved in less than one cycle when the typical sales engagement in the business is over nine months. So quite a challenge, and we saw those results in the last quarter of the financial year, which continues on today. Earlier changes have been further changes have been made early in this, the last few months, and the current changes underwrite the more positive outcome and outlook for the current financial year. The change of control process and advisory process commenced over 12 months ago and has significantly affected the business by reducing management focus and time available to run the business. The board received a number of cascading, non-binding bids for the business as a whole and is still, in a still falling market over the whole period, and it's still falling. Despite the board's best efforts and ongoing interest from multiple bidders, no offers were received which satisfied the board's requirements as to the value for all the shareholders and the certainty of an execution. While under NBIOs, the board has been constrained in its ability to respond and is hence required to act in accordance with what is permissible under the Takeovers Code Guidelines, the Corporations Act, and the ASX rules. As you'll be aware, the board recently announced that it had ceased the advisory and change of control processes and will continue to pursue the company's strategic agenda. During the year, the executive team has shown great leadership. They have responded to the uncertainty caused by the corporate advisory processes, the significant additional demands that were required on them, and the multiple numbers of due diligences that had to be performed in a tough economic environment, whilst we still pivoted the business to a valued position. On behalf of the board, I'd like to comment, commend them on all the hard work and the dedication they've shown. Now to the formal proceedings. Viv, next slide. This is essentially how to participate, and you will have been given some cards if you're here, physical card, to vote on, or if you're online, you essentially can log in and you can vote, right? Voting can be completed in person or online, and it's essentially it's via a virtual Computershare platform. The links are shown on this screen, and you should have them when you actually log in. Right. I now declare the voting on all the items of business open. For our online attendees, voting will be via a tab that will now soon appear, so please submit your votes at any time. I will give you a warning before I move to close the voting. I advise that the company has received a total of 302,550,465 proxy votes, equal to 49.8% of the ordinary voting shares. After discussion of each resolution, I will advise you of the proxy votes for that resolution. I intend to vote all the open proxies for the chair in favor of the resolutions. Online voting can be processed during and after the completion of the meeting. The final results of the resolutions will be announced to the ASX following the meeting. Questions. To ask a question throughout the meeting, please use the Q&A function within the Zoom at the bottom of your screen, or please raise your hand if you are here in the room. The questions will be then read out and, answered as appropriate by the appropriate person. Okay, our business today is to consider the resolution to set out in the notice of meeting. One, financial statements reports. The first item of business is to receive the financial report for the company, the year ended 30 June 2023, and the reports by the directors and auditors thereon. A representative of the BDO is present here today, Gareth Ferrou. No resolution is required, relating to the financial report, but shareholders now have the opportunity to ask questions if they may have in relation to the financial statements. Are there any questions or comments? No? Thank you very much. I move to the resolution one, formal approval of the remuneration report. The next item of business is to consider and if thought fit, to pass the following advisory resolution. That for the purposes of Section 250R of the Corporations Act, and for all other purposes, shareholders approve the remuneration report for the year ending 30 June 2023. Before I put the motion, I'll advise you of the proxy votes received, which are as follows: For, 61,189,781. Against, 240,817,537. Open, 543,147. Excluded, 2,087,102. Abstain, 412,395. I now move that the resolution be put to the meeting. Could I please ask the shareholder to second that motion? Still Wayne. Are there any questions or comments? Right. Thank you. Please ensure that you submit your vote for this resolution. The results will be announced on the ASX following the meeting. Resolution two, re-election of director, Mr. Wayne Stevenson. The next item of business is to consider and if thought fit, to pass the following resolution. That for all purposes, Mr. Wayne Stevenson, who retires by rotation, being eligible, offers himself re-election, is re-elected as a director. Before I put the motion, I will advise that the proxies, which are as follows: For, 200,618,409. Against, 103,402,443. Open, 517,361. Abstain, 431,799. I now move that the resolution be put to the meeting. Could I please have a shareholder seconder? David. Are there any comments or questions? Please ensure you submit your vote for this resolution. Results will be announced at the ASX following the meeting. Resolution 3, approval of the Bigtincan Employee Share Trust. The next item of business is to consider and if thought fit, to pass the following resolution. That for the purposes of Listing Rule 7.2, Exception 13B, section 260C of the Corporations Act, and for all other purposes, approval is given for the Bigtincan Employee Share Trust, and for the issue of securities to the trustee of the Bigtincan Employee Share Trust, as an exception to Listing Rule 7.1. In accordance with the terms and conditions set out in the explanatory statement. Before I put the motion, I will advise that the proxy votes received, which are as follows: For, 173,370,832. Against, 125,925,617. Open, 517,361. Abstained, 4,887,351. Excluded, 348,851. I move that the resolution be put to the meeting. Could I please ask for a shareholder to second the motion? David. Are there any questions or comments? Right. Please ensure you submit your vote for this resolution. The results will be announced at the ASX following the meeting. Resolution number 4, approval of the issue of shares for the Bigtincan Employee Share Trust. The next item of business is to consider, and if thought fit, pass the following ordinary resolution. That for purposes Listing Rule 7.4, and then for all other purposes, shareholders approve the allotment and issue of 3.25 million shares for, to Solium Nominees Australia Pty Limited, a trustee for the Bigtincan Employee Share Trust, on the terms and conditions set out in the explanatory statement. Before I put the motion, I would advise that the proxy votes received, which are as follows: For, 178,032,770. Against, 125,942,517. Open, 519,361. Abstain, 207,213. Excluded, 348,851. I now move the resolution be put to the meeting. Could I please ask for a shareholder to second the motion? No. Are there any questions or comments? Right, please ensure that your vote for this resolution, please submit your vote for this resolution. The results will be announced to the ASX following the meeting. Resolution number 5: Approval for the granting of rights to the director, Mr. David Keane, Managing Director and CEO. Next item is just to consider and thought fit to pass the following resolution for the, that approval is given for the purposes of ASX Listing Rule 10.14, and all other purposes, for the reissue of 9.749304 million shares. Performance share appreciation rights, or PSARs, in relation to the final year 2023, long-term variable remuneration to the Chief Executive Officer and Executive Director, Mr. David Keane, under Bigtincan Holdings Limited Rights Plan, the rights plan, and the terms and conditions as described in explanatory notes to this notice of meeting. Before I put the motion, I would advise you of the proxies received, which are as follows: For, 191,474,790. Against, 111,733,022. Open, 522,014. Abstain, 202,290. Excluded, 1.117896 million. I now move that the resolution be put to the meeting. May I please ask for a shareholder to second the motion? Right. Are there any comments or questions? No. Please ensure that you submit your vote for this resolution. The results will be announced on the ASX following the meeting. Resolution number 6: Approval of the Employee Share Option Plan. The next item of business is to consider and if thought fit, to pass the following resolution. That for the purposes of Listing Rule 7.2, Exception 13B, and for all other purposes, approval is given for the company's Employee Share Option Plan, ESOP, for the issue of securities under the ESOP as an exception to the Listing Rule 7.1, in accordance with the terms and conditions set out in the explanatory statement. Before I put this motion, I'll advise that the proxies received, which are as follows: For, 195,958,286. Against, 103,645,094. Open, 561,111, and abstain, 488,525,521. I now move that this resolution be put to the meeting. Can I have please, a shareholder second that motion? Fine. Are there any questions or comments? Please ensure you submit your vote for this resolution. Results will be announced to the ASX following the meeting. Resolution number 7: Approval of the Bigtincan Holdings Limited Rights Plan. The next item of business is to consider, and if thought fit, to pass the following resolution. That for the purpose of Listing Rule 7.2, Exception 13B, and for all other purposes, approval is given to the company's rights plan for the issue of securities under the rights plan as an exception to Listing Rule 7.1, in accordance with the terms and conditions set out in the explanatory statement. Before I put the motion, I'll advise the proxy votes received, which are as follows: For, 200,488,935. Against, 112,696,784. Open, 1,249,716. And Abstain, 331,557. I now move that the resolution be put to the meeting. Could I have, please, a shareholder second the motion? Right. Fine. Please ensure that you submit your vote. Are there any questions before that, and comments? Right. Please ensure that you submit your vote for this resolution. The results will be announced on the ASX following the meeting. Resolution 8: Approval of the rights issue, rights issue of Regal options. Next item of business is to consider, and if thought fit, to pass the following resolution. Now, for the purposes of Listing Rule 7.4, and for all other purposes, shareholders approved the allotment of issues of 24 million options to the custodian of Regal Tactical Credit Opportunities Fund, Regal, on the terms and conditions set out in the explanatory statement. Before I put the motion, I'll advise you of the proxy votes, which are as follows: For, 128,267,674. Against, 103 million, four hundred and forty-five thousand, five hundred and thirty-seven. For, 530 thousand, four hundred and eighty-six. And abstain, 72 million, eight hundred and eleven thousand, three hundred and fifteen. I now move that the resolution be put to the meeting. Could I have a shareholder second the motion? Steve? Are there any comments or questions? Please submit your votes for this resolution. The results will be announced to the ASX following the meeting. Resolution number nine: Appointment of an auditor. The next item of business to consider and if thought fit, to pass the following resolution. Pursuant to and in accordance with Section 327B(1) of the Corporations Act 2001, and for all other purposes, BDO Auditors Limited, having been nominated by the shareholder and having consented in writing to act in the capacity of auditor, to be appointed the auditor of the company on the terms and conditions set out in the explanatory statement. Before I put the motion, I advise the following proxies have been received, which are as follows: For, 228,699,816. Against, 75,769,229. Open, 517,361. Abstain, 63,806. I now move that the resolution be put to the meeting. We ask for a shareholder to second the place. All right. Wayne. Are there any comments or questions? Please ensure you submit your vote for this resolution. The results will be announced to the ASX following the meeting. For shareholders in attendance in Sydney, please ensure that your voting card is in the ballot box and collected the representative Computershare at the end. All right. That completes the formal part of the meeting. The poll will remain open for a further five minutes from now. It's my pleasure now to hand over to Bigtincan's CEO, David Keane, to share some more results and some strategy outlooks. Thank you, David. You're welcome. Thanks. Hello, everybody. Thank you for attending, both in person and online. Let me start by acknowledging that the past year has been a difficult and challenging one for Bigtincan. The company has faced challenges that have impacted our business and have resulted in a significant drop in the share price. I want to acknowledge that and tell you that I have met with many of our investors in person or online, and have corresponded with retail investors via our investor line. As a board and a management team, we have listened and heard that uncomfortable feedback. We acknowledge we need to do better and provide more data and insights to shareholders on the progression of the company. So today, in addition to briefly recapping FY 2023, what I wanted to do is spend a few minutes sharing Bigtincan's go-forward strategy and the actions the company is taking to adjust the business to ensure it can deliver for shareholders, customers, and our global team in this financial year and beyond. You will note we recently released our outlook for FY 2024, which projects the results of that strategy with significant upswings in EBITDA and free cash flow results. These are significant changes from previous periods, and the company has put in place the programs needed to achieve these outcomes. Now, as we have made these adjustments, the company has executed well in a number of areas. Bigtincan continues to be a leader in sales enablement, as has been recognized by market analysts. To help shareholders and investors understand the market that Bigtincan operates in, today, we're pleased to have Jim Lundy, the founder of Aragon Research, attend to talk to shareholders a bit about Bigtincan's market and why we believe in the future of that space. You'll also see today that 67% of our revenue is in contract to the, through the end of FY 2024, and we have... We'll have more on that, of course, in the first half results, including what I expect to be an increase in the contract length of our largest customers. While doing that, we have been delivering more technology faster than ever. I do want to take this opportunity to thank the team at Bigtincan, who have done an excellent job of executing on the company strategy and building the technology to, to deliver a long-term future. And that's happened while we have made significant cost adjustments to the business. Now, also, there have been external factors that have impacted the company in calendar 2023, including challenges in the macro environments with a slowdown in enterprise spending, unification of the market needs in our space into a complete platform required for sales enablement, and now, of course, the incredible rise of AI technology. These are things that Bigtincan has adjusted its business to address. And yes, there has been that potential change of control process that Tom talked about that was ongoing throughout 2023. That has been a challenge, but now that is behind the business, and the company is 100% focused on delivering the FY 2024 outlook. Lastly, I want to share with you, before I go through some slides, why I believe in this market that we operate in and the strength of the core product and our team. I recently met with 3M Corporation, one of our leading customers, who told me that Bigtincan technology is not just a nice-to-have software tool, it's a truly must-have, driving their revenue line, and they are now generating $ millions of revenue through the Bigtincan platform annually. You'll see today that strategy come to life and how the company is executing on that strategy while achieving those significant changes in its financial performance we just talked about. Let's jump to the slides and go through where Bigtincan is. I think before we go through FY 2023 and FY 2024, it's important to remind ourselves that the clear strategy Bigtincan has to establish itself as a globally competitive, profitable, and scaled leader in sales enablement. Firstly, we are committed to building the software products that directly contribute to the revenue line of our customers. These solutions become connected to the success of our global customers. That revenue line focus is all about improving the buying experience for our customers' customers. Secondly, our strategy is based on delivering a complete platform through an end-to-end software architecture that we call the Bigtincan Intelligent Enablement Platform or the IEP. This provides improved insights for our customers and lower operating costs and improved cross-sell opportunities for Bigtincan. Our third pillar is innovation, to grow our existing revenue and win new customers. This is not just about adding features, it's about expanding our offerings and growing existing customers while winning new logo deals. This is how we build trust and minimize churn. Finally, operational efficiency remains a key pillar of our business. The synergies that we have achieved from growth, both through M&A and our organic growth programs, contribute here.... So So these pillars are designed to support and grow shareholder value and the business as a whole. Now, if we look at slide 9, this is a bit of a view back to next slide, thank you. A bit of a view back to our FY 2023 results. As Tom talked about, overall, in FY 2023, Bigtincan navigated a very complex landscape, where overall technology growth has been more constrained than in previous financial years. Despite that, the company achieved growth in both its annualized recurring revenue, growing by 8%, and its overall revenue by 13%. Importantly, Bigtincan maintained a gross margin of 88%, demonstrating that we continue to operate efficiently. This margin is a result of careful planning and a conservative approach to our operations. Through that, I'm pleased to report an increase in our adjusted EBITDA for FY 2023 over FY 2022 of 103% to AUD 8.3 million, and achieving cash flow break even for the fourth quarter. Now, we go to the next slide. That's slide 10 of the deck. Let's talk about some of the non-financial progress in FY 2023. There are a number of achievements of this company worth covering. As I spoke about, Bigtincan completed the industry's first highly scalable, intelligent enablement platform for enterprise organizations. This important milestone will underpin Bigtincan's progress for years to come. We launched Genie AI, Bigtincan's proprietary large language model-based AI system. By integrating AI, we're seeing opportunities for upsell to our existing customers and opportunities for improved win rates for new logos. The acquisitions of SalesDirector.ai and Modus have brought over 100 new customers into our business, along with leading-edge technology that complements our existing products. And recognition of our innovation has come from none other than Fast Company magazine, which named Bigtincan as the number 8 most innovative company in enterprise in 2023. It's a real honor that underscores how others view Bigtincan and our ability to lead the market. Despite macroeconomic challenges, the new customer logo and expansion wins were pivotal in offsetting those headwinds. Those new wins are a clear indication of the market's confidence in our value proposition and our team's ability to succeed. Lastly, we achieved a significant financial milestone again, with that transition to cash flow break-even in May and June 2023, and EBITDA positive results for the second half of 2023. On slide 11, it's important to talk about the team that makes Bigtincan successful. It's the people here that are our strength, and we continue to invest in building an efficient and skilled team. Looking at diversity and inclusion, we're proud to say that 30% of Bigtincan employees at the end of FY 2023 identify as female, which is well aligned to the tech industry benchmarks. We're not stopping there. Our recruitment processes are actively in place to attract more female and neurodiverse candidates, demonstrating the commitment we have to building a diverse and inclusive workforce. For FY 2024, our focus will be on nurturing our team's well-being, with an emphasis on mental health for all employees globally. We understand that our team's mental health is paramount, and we're dedicated to providing the resources and support they need. In terms of communication, we're improving our channels throughout the organization. This includes global town halls and a consistent cadence of leadership strategy sessions. We're tracking retention by gender, relationships, and diversity, with a goal to be recognized as a leader in our industry for workforce practices. On slide 12, let's now talk a bit about that outlook for FY 2024 I spoke about before. This section gives us a chance to talk about the progression so far this year and the outlook for the rest of FY 2024 and beyond. On slide 13 of the deck, as we look forward into FY 2024, Bigtincan is executing on that core strategy we spoke about in the 4 key pillars. Firstly, we are building our strong core. The migration of customers to that IEP, Intelligent Enablement Platform, is ongoing and will continue into FY 2024, setting a strong base for FY 2025 and beyond. This foundation is crucial as we aim to elevate our market position and enhance our service delivery. In regards to EBITDA growth and free cash flow, we will be continuing to adapt to changing macroeconomic forces with an emphasis on strategic cost management and concentrating on our most profitable products. While Bigtincan continues to have a seasonal business with strong quarters for closing deals in Q2 and Q4, and less strong quarters in Q1 and Q3, with corresponding cash flow impacts. Given that process of adjustments, the company is in place to achieve free cash flow positive results for full year FY 2024, with a strong second half based on the cost changes we implemented in the first half. To address the macro climate, we are implementing churn protection programs. These programs, which will include comprehensive data analysis, customer success programs, and product development initiatives, are designed to support our customer base and build expansion. As committed to building an enterprise-efficient leader in a globally significant market, in FY 2024, we'll focus on operational performance and deliver the market agility to get there. Let's look on slide 14 to talk a bit about revenue progression so far this year. Bigtincan is building on a solid foundation for FY 2024. In terms of progress so far, we've had more than 30 new logo customers and over 100 expansion customers to date in the first half of FY 2024. The right-hand side of that slide gives you some of the names of new logos and expansion customers that continue to work with Bigtincan to empower their revenue line. As of today, we have 67% of our revenue in contract through the end of FY 2024. Let's talk a little bit about churn. Addressing customer and dollar churn is one of our highest priorities at Bigtincan. To this end, we've established the Bigtincan Retention Task Force, with a clear mandate to tackle the factors contributing to churn and enhance our customer retention rates. The task force is structured around 5 key initiatives. Firstly, we're doubling down on data analysis and insight gathering. By leveraging our data, we aim to understand and identify patterns that can help us preemptively address customer concerns. Second is impact awareness. We're making sure that every team member understands the impact of churn and is aligned on the importance of customer retention. Our third initiative is the implementation of comprehensive customer success strategies. This means proactive engagement and support at every stage of the customer journey. Fourth, we're aligning product development closely with customer feedback. We want to ensure that our product roadmap reflects the needs and wants of our users, making our solutions indispensable to their business operations. And lastly, we're instituting regular reviews and adaptation processes. So these reviews enable us to ensure our strategies are working, so we can adapt quickly to serve our customers better. Now, on slide 15, in relation to costs, in May 2022, Bigtincan announced the target cost spend for the business per quarter was to adjust to between $31 million and $33 million in FY 2023. The business executed on that transition, reducing operating spend from $36 million in Q1 FY 2023 to $31 million in Q4 FY 2023. That's an annualized spend reduction of $20 million. In Q1 and Q2 FY 2024, Bigtincan has continued to adjust its operating spend, with anticipated quarterly operating spend for second half FY 2024 being around $25 million per quarter. That's in total more than $40 million in reduced annualized expenses. As part of this, Bigtincan has significantly reduced investments in areas that it sees as not critical to its immediate ability to be able to deliver for our customers and build the products for the future. We see further opportunities for improvements in cost of sales, and we're already seeing that leading to increases in gross margin. Now, on slide 16, let's look at how those two things, the revenue progression and the cost adjustments, impact Bigtincan's EBITDA. Looking at our EBITDA, we've seen a significant improvement from FY 2022 to FY 2023, moving from a loss of AUD 10.2 million to a loss of AUD 4.1 million. For FY 2024, we're projecting a positive EBITDA between AUD 10 million-AUD12 million, which makes a substantial turnaround and speaks to the health and potential profitability ongoing of our company. In terms of EBITDA as a percentage of revenue, FY 2024, we're setting a target of 8%-9%, as you can see there. In terms of adjusted EBITDA, that's also shown a history of growth, from AUD 4.1 million in FY 2022 to AUD 8.2 million in FY 2023, and FY 2024, we're setting a goal of AUD 15 million or more. These results are reflective of Bigtincan's strategy and the operational improvements and other initiatives we're implementing. You can see how Bigtincan has decreased operating expenses, expenses as a percentage of operating revenue from 102% in FY 2022 to 93% in FY 2023. For FY 2024, we're targeting further reduction to between 82% and 87%. But Bigtincan has done that while being able to achieve significant progress in its technology. Bigtincan is a technology company at its heart, and its ability to attract and retain customers through innovative technology is part of the DNA of this business. Bigtincan engineering teams in FY 2024 continue to add value to our existing products, making our products more valuable to our current customers and offering abilities for us to upsell. A couple of areas I want to speak about today. Initially, of course, Genie AI is the brand we're bringing to describe Bigtincan's range of generative AI technologies that will go across all of Bigtincan's customer base, offering opportunities for incremental revenue per seat. Bigtincan is a pioneer and a leader in voice analytics that can be used to inform and predict and recommend what you say and how you say it. Bigtincan is pioneering intelligent role play, creating simulated customer engagements mapped against existing business processes. And we're also pioneering in spatial compute, investments and developments in XR, VR, and AR. Let's go to the next one. Thank you. So what's our outlook for FY 2024? The strategy we spoke about before, delivering the financial results we're predicting in our outlook for FY 2024. Let's build on, again, those principles, building a strong core to this business, delivering the EBITDA growth, addressing macroclimate challenges with churn protection programs, and building efficiently that... You can see our outlook of revenue between AUD 123 million and AUD 130 million, EBITDA AUD 10 million-AUD 12 million, and adjusted EBITDA of AUD 15 million. Plus, as I spoke about for the full year, free cash flow positive in FY 2024. I do want to spend a minute, though, as I mentioned, about providing more detail to investors. I thought as well as looking at FY 2024, we'd look a bit further out into FY 2025. I think it's important for investors to understand the trajectory the business is on and the opportunities it has in front of us. Creating the buying journeys of the future for a global customer base presents unique opportunities for Bigtincan, and our focus in FY 2025 is going to be continuing to build on the organic growth focus of the company, but doing so from a quality customer cohort and a strong product development execution program. Our target EBITDA margin for FY 2025 is in excess of 10%, and we expect our multi-hub business to hit 50% of total revenue as AI technologies become mainstream. Overall, I know the board and the management team, the Bigtincan, is well placed to create that buying experience of the future, putting increased global customer base in a profitable and sustainable position with a North Star focused on shareholder value. I think that's it for the materials. Yes, indeed. Indeed. We have received some questions. We'll get to those questions. We are very fortunate to have Jim Lundy to come and present to the investor base about the market that Bigtincan operates in. We've been asked to talk and provide more detail, more background on the company. I think Jim's ability to give investors a view of the marketplace overall will be very helpful. I invite Jim Lundy to come up and just spend a couple of minutes talking about that. Thank you, Jim. We'll come back to that last slide, please. Okay, thank you. My name is Jim Lundy. I flew in from Silicon Valley, where I live, and I'm going to give you a quick flyby with just a few slides about the market and where the market is going. So if we go to the next slide. I'm the founder and CEO of Aragon Research. I spent a lot of years at a much bigger firm that you probably know here in Australia, Gartner. We're 12 years old. We have a growing client base. We do cover a number of markets that I'll show you. We've done a lot of work early, starting in 2016 on AI, and most of our employees are in the California region. Go to the next slide. I've been an operator, so one of the reasons I did leave the big G, as we call it, is a number of clients said, "You know, go-to-market, a lot of your analysts are great, but they don't... They know tech, but they don't know go-to-market." So we basically, decided to found the company. I was at Xerox for many years, did work in sales enablement, ran sales enablement for 5,000 sales reps. So I have experience in the role that a lot of the customers that are buying from Bigtincan, what they do, and, I have many friends that are in the roles. I did spend 12 years at Gartner, was general manager at Saba, had a $25 million, run rate revenue, that I did overachieve. And, Aragon, like I said, we're privately held, and we have no debt, and we have a growing client base. Go ahead to the next. So let's talk about some of the things that are, I think, important, and this is a topic landscape of the topics we cover and write about and give advice to clients. And I just want to point out three really quickly. Sales enablement, that we're going to talk about, but a related area of work hubs, which is more of a horizontal, think of office productivity suites, and think of sales enablement as more of a focused set of tools for salespeople. I also would point out that in marketing, the marketing, and in particular, CRM, that's kind of like a system of record. So one of the reasons I mention that is in most business units, in most companies, there's a growing discussion about the rise of the tech stack that's going to support that function or that role. So it's been for a few years, you've probably heard that the idea of the Marketing Tech Stack, that's been growing. And even, you know, we have many clients where we talk to them about their tech stack and how it's going to evolve. But the new discussion is about the sales tech stack and are sales teams and revenue or organizations equipped with the right stuff so they can sell in both a virtual and a physical environment? So we'll touch on that a little bit as well. Let's go to the next slide. So we started covering sales enablement back in 2015 when companies like Bigtincan and some of their competitors were, you know, only a couple million dollars ago. We did a forecast then. We have a current forecast. So we have a view of what sales enablement platforms are. We have a market forecast, and, we are, you know, we published it in 2021. We're updating the, the, forecast, and I think the year we first came out, we said it was only a $5 billion market. We're saying now it's going to be a $16 billion market with about a 20.6% CAGR, for this time period, which is 2023-2029. Just key assumptions. The interest are that SEPs are work platforms for sales reps, that these are role-focused versus horizontal tools, that an SEP offering is complementary to CRM. I'm going to talk about AI playing a larger role in automation, and that market consolidation is going to happen based on what we call AI pressure. Let's go to the next slide. So let me say: What is sales enablement? We try to. W e, we get a lot of those questions from people that don't have sales enablement. By the way, there's many sales teams that still are using Office or Google G Suite, and they're finding that they're not really equipped as well. They don't have information. They can't tell when a prospect's looking at the proposal that was sent to them. And with sales enablement platforms, you can. With horizontal work tools or productivity suites, you cannot. And so there's a vast difference in what these things do, versus, you know, Google or Microsoft. And we have many clients that were having problems beating their competition because they had not invested in their sales tech stack, and once they did, generally, those teams started to perform better. Let's go to the next slide. But there is a change happening, and the change that's happening is the rise of intelligent assistants, whether you want to call them copilots, which is something Microsoft is using, or duets that Google's using, or we're just calling them intelligent assistants. And, you know, since we do cover a lot of different facets of AI, what I would tell you at a base level is that half of AI is about automation. It's not about intelligence. It's about automating processes. Again, salespeople have to do an awful lot of manual things to get a deal done. It's crazy how much things they have to do, looking for content, trying to find content. So if we go to the next slide, we have a new report coming out, well, right now, but it will publish in early January, and we're predicting the rise of intelligent sales assistants that kind of basically become a front end for a salesperson or sales manager to work with a sales platform like Bigtincan, but start to perform functions for that individual. Doesn't necessarily replace that individual, but it's going to help them like, you know, pull this deck and add, these slides from this other presentation. Prepare emails for me. If you haven't seen some of the demos from Bigtincan's Genie, they've got some compelling abilities to generate really compelling email messages that, you know, in our opinion, exceeds what, you know, the tools we've used from Google or Microsoft or even OpenAI. This is a change. All markets are going to have intelligent assistants. There's a fundamental change in the market. It's AI is not a big market. AI comes into every market, and it's coming into sales enablement, so it's kind of almost a reinvention of the market. Let's go to the next slide. We do have reports that we write on markets. We do globes, which are similar to what you would think of a Magic Quadrant. They evaluate both the innovation and the execution of a set of providers. We did a brand-new report this year on enterprise coaching, which is the ability to coach sales reps or contact center reps on skills or deals in the case of sales coaching, and Bigtincan performed well. I think this is the sixth report in 2023. We have a new one for 2024. There's kind of a battle in a lot of the major enterprises between, you know, Seismic, Highspot, and Bigtincan. You know, we would say Showpad is kind of fading, but we have these reports. If there's people that want access to them, Bigtincan has them. We spend about six months doing evaluation each year on these things. These are highly regarded reports. Many providers leverage these reports with their buyers, and, you know, because we are viewed as independent, they carry a lot of weight with buyers. There is about a 30% replacement market today. People get tired of some of the products they've had. We do use products at Aragon, and we've used some of these major products over the years, and I don't make those decisions anymore. My growth team does, and they decide what's going to help them and what isn't. But there's a clear difference between what CRM does and what these sales enabled platforms do. Last slide. So in summary, we think sales enabled is part of the modern sales tech stack. You're going to hear more and more in buyer communities about, Hey, I need to enhance my sales tech stack. Intelligent assistants are emerging, and we think consolidation is going to speed up as AI investments prove too much for many of the smaller providers. Certainly more to talk about, but that's my overview of the market. Thank you very much. What we might do, Tom, is pop to the party. There's some questions I'd like to get and view that have come up from folks that have come, that have come online. We're just going to take these questions. I think there's no particular order, and we hope to get to all of them. Just if we don't get to any of your questions, we'll do our very best to follow up with everybody's questions. There is a question here about company cash balance and, you know, where the company is in terms of its position. I think it's important to remind folks, this is the AGM presentation, and we don't typically disclose the cash positions in the interim periods, but I think it's important to provide data today. We had AUD 33 million at June thirtieth, and we subsequently completed the two small acquisitions, and then we conducted the significant cost out program we announced to the market in September, with additional inflows from the local facility. I want to be clear that we're confident we have sufficient cash reserves for all our projected operations of the business, and this is in line with our view to be cash flow positive for the full year, FY 2024. There are, of course, the seasonal perspective and further cost reductions that are continuing in the first half of FY 2024, and we expect all of these to be, I think, really showcased in the full year results for FY 2024. There's another question about... There are a lot of other questions, of course, about the change of control process. I think I might get Tom to answer some of those. Tom, do you want to have a go at some of these first ones? There is a question about the takeover process. You know, there's a whole lot of detail worth there. How would you like to approach this? Well, I think, I think it's just a summary situation. The company has received several NBIOs over the last period, in fact, over seven. A lot of them are cascading from a similar, but same bidder with, different partners. They've all been in NBIOs, none involving in big losses. There's been no hard firm offer. There's been no rejections because of that. Mm-hmm. But, the process was essentially following the market trend down, so it was all about timing and effectively continuous questions and more due diligence. Mm-hmm. And so at some point, the board had to call it off. But remember, we have an advisor called Morgan Stanley, who's been assisting us. Mm-hmm. At some point, we came to a view that this was going to continue on to the market bottom, so we turned the process off effectively. There are very similar questions about that. There's a question about the Regal loan shareholders voted today on the issue of Regal options. I think it's worth covering that. Yeah. I think a lot of detail was provided to the market when the loan was drawn. The repayment is due in 2024, in September 2024, and the company has a range of options there, whether to extend, replace, excuse me, extend, replace, or repay at that time and give the company's forecast for its cash, its cash structure position. I think the company is well covered with options there. It says the question here about whether the company is engaged with Morgan Stanley, have they considered this instead of the ASX to unlock better value for shareholders? I think the last year has been really focused on making the transition. I think that's the thing I would suggest to shareholders. Then there are different, you know, valuations that may be applied in the market, but I think that, you know, that's important. Bigtincan has only just recently got to a point where it's over that $100 million size, which I think is important for company to move in the U.S. markets. But, you know, certainly the job of the board, look at all the options for shareholders. I think, there's a question here about the cost reduction program. Yeah, I think the cost reduction program obviously was delivering the value of the technology. We continue to invest, do invest and continue to invest in employing some of the world's leaders in building the technology that you, if you follow Bigtincan, will hear about, and you saw Jim talk about, that enables Bigtincan to be at that top right-hand quadrant of, the Aragon Globe. We believe those investments are important. This is a growth market ordinarily. We express the challenges the company's had in FY 2023, but we believe in the growth of this technology space, and it's important for Bigtincan to be in that consideration set for some of our customers globally. Okay, I think that covers most of the questions. Are there any more questions here in the room or online? Please feel free to ask. Oh, yes, interesting. If AI investment will prove too much for small providers, given BTH's limited access to capital, can BTH compete to succeed? Well, that's one of the reasons for the Regal facility. If you read our release regarding the Regal facility, that was the key purpose of that facility, was to make sure that we could invest in... I don't want to make this meeting all about AI stuff, because there's a lot more to our business than AI. We wanted to make sure that we were not going to be behind, because I think John's question is right, is that if you end up behind in this market, and I think Jim talked about that as well, you end up being in a very difficult place to catch up. Right. All right. Thank you very much, everybody. I appreciate that. Do we- I'm going to close it now. Yep. Do you want to do that? Right. Thank you very much for attending the meeting. We look forward to the new year, and we look forward to achieving our results 2024. Thanks, Jane. Back to you. Thank you everyone again for joining the Bigtincan Holdings Limited annual general meeting. As David mentioned, if we have missed any of your questions, please feel free to reach out via the contact details on the bottom of our ASX releases, but we look forward to hosting you again next time.