Ann: Appendix 4C - Quarter ended 30 June 2017, page-7

From what I can see they have 2.56m still available as backup working funding from Lanstad.

Credit to management for making progress on bringing down overheads. Best result for a while in this regard.

My main concerns are that the new Chinese operations still only made approx 200k revenue in the past 2 months which suggests cash position is still likely to struggle for a fair bit of time yet just keeping up with base costs. After all this is the business driving the premium share value.

Whilst they have a good platform, I find it hard to justify any major near term jump in sp as market cap value is already at a premium in my view at 27m for how I anticipate them to perform over the next 12 months unless growth picks up massively and profit is somehow foreseeable. So many shares issued at 2.7 billion makes a multi bagger more challenging but SMA has a history of keeping traders happy with spikes.

I hope they prove me wrong and I still enjoy watching this little company evolve

Good luck to all and potential they can rise again sometime with patience and some proven results of positive cash