Ann: Annual Report to shareholders, page-25

This report is pretty much what I was expecting... plenty of cash on hand and our cash burn rate looks okay. My only query is the stated revenue in the annual report. Last quarter's 4c stated the following:

"During the quarter and leading up to the Appendix 4C the Company received a combined $544,000 consisting of cash and near-term commitments from commercial customers and grantors. This includes $325,000 (USD$268,000) in purchase orders for FR chemistry.
This quarter marks the third consecutive quarter-over-quarter growth, following two previous quarters of $100,000 and $111,000."

This doesn't add up with the annual report. $400k in receipts has been stated in the annual report, but it still doesn't add up. The 4c does state 'leading up to the 4c', so I would expect that could be receipts that were signed in the month of July.

Either way, any assistance is appreciated,