Ann: September 2018 Quarterly Report & Appendix 4C, page-11

I am really worried about the quarterly cash burn of 700K vs the cash position of 1.5M. First of all, 700K is a huge cash burn, given that mass production hasn't really started yet. There are relatively large staff costs and "staff R&D" costs in addition. I feel with cash left for only two quarters, the SP won't fly, as no big players will touch this at this point in time. Even if we get another (even large) order, producing at larger scales will require either partnering with an established battery manufacturer, or large costs => cap raise.

A company like this needs enough cash for at least 8 quarters to give investors a reassuring feeling.

I am still holding (bought in at 3.2 cents), but like many others: won't be topping up because of the cash position so I cannot imagine the SP taking off unless the cash position gets rectified.