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Unusual incremental information for an interim report as it's the first financials including the new Pearl Diver product. The Pearl Diver revenue has been reported each month but it Is the first time the gross margin has been reported. I was modeling that at a slight increase from the old product at 52.5% but gross margin actually increased from 46% to 67%. That is a big boost to economics. Monthly churn was also below expectations at 3.3%. The stock is constrained by the fact that there is no natural buyer of NZ micro caps, combined with two capital raises in short succession, but that should be the end of the capital raises with cash flow positive guided later next year. It may require a little patience with the technical backdrop, but BPG looks like obvious multi bagger if it can maintain anything near the current monthly revenue growth rate of c$500k with Pearl Diver.
